Bank OZK (NASDAQ:OZK) Reports Strong Quarterly Earnings

Bank OZK (NASDAQ:OZK) released its quarterly earnings results on Thursday, demonstrating robust performance. The company reported earnings per share (EPS) of $1.56 for the quarter, which surpassed the consensus estimates of $1.44 by $0.12. Additionally, Bank OZK achieved revenue of $412.34 million in the quarter, outpacing analysts' expectations of $407.19 million.

The bank boasted a net margin of 26.07% and a return on equity of 14.15%. Comparing this quarter's results with the same quarter last year, the revenue experienced a slight increase of 1.2%. Last year during this period, the firm reported earnings of $1.50 per share.

Bank OZK Stock Performance

During trading on Thursday, shares of Bank OZK increased by $0.12, reaching a price of $45.34. Approximately 1,473,926 shares changed hands, which is lower than the average trading volume of 1,551,636. The company indicates a debt-to-equity ratio of 0.12, with a current ratio and quick ratio both at 1.02. Bank OZK has a market capitalization of $5.14 billion, a price-to-earnings ratio of 7.46, and a beta of 1.20. The stock's fifty-day moving average stands at $46.40, while its two-hundred-day moving average is $44.13. Over the past fifty-two weeks, the stock has seen a low of $37.43 and a high of $51.50.

Dividend Announcement

In addition to its earnings report, Bank OZK announced an increase in its quarterly dividend, which is set to be paid on Tuesday, January 21st. Shareholders who are on record by January 14th will receive a dividend of $0.42 per share, an increase from the previous $0.41. This translates to an annualized dividend of $1.68 and a dividend yield of 3.71%. Currently, the company's payout ratio stands at 26.97%.

Analysts' Views on Bank OZK

Various equities analysts have provided insights on Bank OZK's performance. Stephens raised their price target from $48.00 to $51.00 while maintaining an "equal weight" rating. Piper Sandler increased their target from $58.00 to $63.00, giving the stock an "overweight" rating. In contrast, Truist Financial lowered their target from $48.00 to $46.00, rating the stock as a hold. Wells Fargo also adjusted their target upward from $35.00 to $40.00 with an "underweight" rating. UBS Group initiated coverage and assigned a "neutral" rating with a price target of $51.00. Overall, two analysts have rated Bank OZK as a sell, seven as hold, and one as a buy. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $48.25.

About Bank OZK

Bank OZK provides a wide range of retail and commercial banking services for individuals and businesses throughout the United States. Their offerings include various deposit services—non-interest bearing checking, interest-bearing accounts, savings accounts, and more, catering to both personal and business banking needs.

Earnings, Bank, Finance