Bank OZK (NASDAQ:OZK – Get Free Report)’s share price was down 3.8% on Friday following a weaker than expected earnings announcement. The stock traded as low as $42.45 and last traded at $42.85. Approximately 228,750 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 1,644,796 shares. The stock had previously closed at $44.53.
The company reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.01). Bank OZK had a return on equity of 13.95% and a net margin of 38.48%. The business had revenue of $388.81 million during the quarter, compared to analysts’ expectations of $374.41 million. During the same period in the previous year, the business earned $1.10 earnings per share. The business’s quarterly revenue was up 33.1% on a year-over-year basis.
Bank OZK Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, July 21st. Stockholders of record on Friday, July 14th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Thursday, July 13th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.35. Bank OZK’s dividend payout ratio (DPR) is 29.21%.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on OZK. Morgan Stanley lowered their target price on shares of Bank OZK from $51.00 to $37.00 and set an “equal weight” rating for the company in a report on Wednesday, April 5th. Keefe, Bruyette & Woods decreased their price objective on shares of Bank OZK from $40.00 to $35.00 and set a “market perform” rating for the company in a report on Thursday, April 6th. Wells Fargo & Company decreased their price objective on shares of Bank OZK from $45.00 to $37.00 and set an “equal weight” rating for the company in a report on Wednesday, April 5th. StockNews.com started coverage on shares of Bank OZK in a report on Thursday, May 18th. They set a “sell” rating for the company. Finally, Stephens reiterated an “equal weight” rating and set a $45.00 price objective on shares of Bank OZK in a report on Friday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $41.86.
Institutional Trading of Bank OZK
Several large investors have recently bought and sold shares of the stock. 1832 Asset Management L.P. lifted its stake in Bank OZK by 18.0% during the 4th quarter. 1832 Asset Management L.P. now owns 1,460 shares of the company’s stock valued at $58,000 after acquiring an additional 223 shares during the period. Commonwealth Equity Services LLC lifted its stake in Bank OZK by 2.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 11,571 shares of the company’s stock valued at $457,000 after acquiring an additional 228 shares during the period. Profund Advisors LLC lifted its stake in Bank OZK by 4.5% during the 4th quarter. Profund Advisors LLC now owns 5,474 shares of the company’s stock valued at $219,000 after acquiring an additional 237 shares during the period. HB Wealth Management LLC lifted its stake in Bank OZK by 4.6% during the 2nd quarter. HB Wealth Management LLC now owns 6,195 shares of the company’s stock valued at $249,000 after acquiring an additional 274 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of Bank OZK by 8.5% in the 4th quarter. Van ECK Associates Corp now owns 3,623 shares of the company’s stock valued at $145,000 after purchasing an additional 285 shares during the period. Hedge funds and other institutional investors own 82.55% of the company’s stock.
Bank OZK Stock Performance
The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.02. The firm’s 50 day moving average is $38.64 and its 200-day moving average is $39.21. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 8.55 and a beta of 1.40.
About Bank OZK
Bank OZK provides various retail and commercial banking services. The company accepts various deposit products, including non-interest-bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time deposits. It also offers real estate, consumer and business purpose, indirect recreational vehicle and marine, commercial and industrial, government guaranteed, agricultural equipment, small business, lines of credit, homebuilder, and affordable housing loans; business aviation and subscription financing services; and mortgage and other lending products.