Bank OZK (NASDAQ:OZK) Posts Quarterly Earnings Results

Bank OZK (NASDAQ:OZK) issued its earnings results on Tuesday. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.43 by $0.07, Zacks reports. Bank OZK had a net margin of 24.95% and a return on equity of 11.87%. The company had revenue of $391.48 million during the quarter, compared to analysts’ expectations of $434.83 million. During the same quarter in the previous year, the company posted $1.59 EPS.

Bank OZK Stock Up 2.1%

Shares of Bank OZK stock opened at $46.16 on Wednesday. The company has a market capitalization of $5.16 billion, a P/E ratio of 7.47 and a beta of 0.92. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.97 and a quick ratio of 0.97. The business has a 50-day moving average of $47.96 and a two-hundred day moving average of $48.94. Bank OZK has a 1 year low of $42.37 and a 1 year high of $53.39.

Bank OZK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 20th. Shareholders of record on Tuesday, October 13th were paid a $0.49 dividend. The ex-dividend date of this dividend was Tuesday, October 13th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.48. This represents a $1.96 dividend on an annualized basis and a yield of 4.2%. Bank OZK’s payout ratio is presently 32.40%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings lowered Bank OZK from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 2nd. TD Cowen cut their price target on shares of Bank OZK from $52.00 to $50.00 and set a “hold” rating on the stock in a research report on Monday, October 5th. Wall Street Zen raised shares of Bank OZK from a “sell” rating to a “hold” rating in a research note on Sunday, September 27th. Wells Fargo & Company reduced their price objective on shares of Bank OZK from $56.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 29th. Finally, Raymond James Financial initiated coverage on shares of Bank OZK in a report on Tuesday, September 1st. They set a “market perform” rating for the company. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $55.33.

Bank OZK announced that its Board of Directors has initiated a stock repurchase program on Monday, June 29th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to purchase up to 3.4% of its shares through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

About Bank OZK

Bank OZK (NASDAQ:OZK) is a regional financial institution headquartered in Little Rock, Arkansas. The company provides banking services to individuals, businesses and institutions, including deposit accounts, commercial and consumer loans, mortgage lending, treasury management and online and mobile banking.

Bank OZK also operates specialized lending businesses, including its Real Estate Specialties Group, which provides financing for commercial real estate development and other complex real estate projects.