Zacks Research Equities Analysts Reduce Earnings Estimates for Bank OZK (NASDAQ:OZK)

Posted by on Sep 8th, 2023

Bank OZK (NASDAQ:OZK – Free Report) – Analysts at Zacks Research reduced their Q3 2024 EPS estimates for Bank OZK in a research report issued to clients and investors on Tuesday, September 5th. Zacks Research analyst S. Shah now anticipates that the company will post earnings per share of $1.39 for the quarter, down from their prior forecast of $1.40. The consensus estimate for Bank OZK’s current full-year earnings is $5.75 per share. Zacks Research also issued estimates for Bank OZK’s Q4 2024 earnings at $1.33 EPS and FY2024 earnings at $5.31 EPS.

Bank OZK (NASDAQ:OZK – Get Free Report) last issued its quarterly earnings results on Friday, July 21st. The company reported $1.47 EPS for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.01). Bank OZK had a net margin of 35.47% and a return on equity of 14.60%. The business had revenue of $388.81 million for the quarter, compared to the consensus estimate of $374.41 million. During the same quarter in the previous year, the business earned $1.10 earnings per share. The firm’s revenue was up 33.1% on a year-over-year basis.

OZK has been the subject of a number of other research reports. StockNews.com began coverage on Bank OZK in a research note on Thursday, August 17th. They set a “sell” rating for the company. Stephens increased their price objective on Bank OZK from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Monday, July 24th. Truist Financial increased their price objective on Bank OZK from $43.00 to $46.00 and gave the company a “hold” rating in a research note on Tuesday, July 25th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $35.00 price target on shares of Bank OZK in a research note on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $40.50.

Check Out Our Latest Stock Report on Bank OZK

Bank OZK Stock Down 1.4 %

Shares of NASDAQ OZK opened at $38.57 on Thursday. The stock has a market capitalization of $4.84 billion, a P/E ratio of 7.28 and a beta of 1.44. Bank OZK has a one year low of $30.72 and a one year high of $49.52. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.02. The firm’s 50 day simple moving average is $41.46 and its two-hundred day simple moving average is $38.60.

Hedge Funds Weigh In On Bank OZK

A number of institutional investors have recently added to or reduced their stakes in OZK. Lazard Asset Management LLC bought a new position in shares of Bank OZK during the first quarter valued at $25,000. Geneos Wealth Management Inc. increased its holdings in Bank OZK by 94.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 776 shares of the company’s stock worth $33,000 after buying an additional 376 shares in the last quarter. Covestor Ltd increased its holdings in Bank OZK by 56.6% in the 1st quarter. Covestor Ltd now owns 896 shares of the company’s stock worth $38,000 after buying an additional 324 shares in the last quarter. Coppell Advisory Solutions Corp. bought a new stake in Bank OZK in the 4th quarter worth about $42,000. Finally, Quarry LP increased its holdings in Bank OZK by 235.2% in the 1st quarter. Quarry LP now owns 1,106 shares of the company’s stock worth $38,000 after buying an additional 776 shares in the last quarter. Institutional investors own 84.84% of the company’s stock.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Shareholders of record on Friday, July 14th were issued a $0.36 dividend. This is an increase from Bank OZK’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $1.44 dividend on an annualized basis and a yield of 3.73%. Bank OZK’s dividend payout ratio is 27.17%.

About Bank OZK

(Get Free Report)

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.

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Earnings History and Estimates for Bank OZK (NASDAQ:OZK)

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