FY2024 EPS Estimates for Bank OZK Raised by Zacks Research

Bank OZK (NASDAQ:OZK - Free Report) - Analysts at Zacks Research boosted their FY2024 EPS estimates for Bank OZK in a report released on Wednesday, November 20th. Zacks Research analyst R. Department now expects that the company will post earnings of $6.00 per share for the year, up from their previous estimate of $5.97. The consensus estimate for Bank OZK's current full-year earnings is $6.03 per share. Zacks Research also issued estimates for Bank OZK's Q4 2024 earnings at $1.42 EPS, Q2 2025 earnings at $1.41 EPS, Q4 2025 earnings at $1.63 EPS, FY2025 earnings at $5.93 EPS, Q2 2026 earnings at $1.57 EPS, Q3 2026 earnings at $1.67 EPS and FY2026 earnings at $6.52 EPS.

Bank OZK (NASDAQ:OZK - Get Free Report) last posted its quarterly earnings results on Thursday, October 17th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.02. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. The firm had revenue of $423.00 million for the quarter, compared to analyst estimates of $419.08 million.

Other research analysts also recently issued research reports about the stock. Stephens raised their price target on shares of Bank OZK from $48.00 to $51.00 and gave the company an "equal weight" rating in a report on Monday, October 21st. Truist Financial reduced their target price on Bank OZK from $48.00 to $46.00 and set a "hold" rating for the company in a research report on Monday, October 21st. Morgan Stanley raised their price objective on shares of Bank OZK from $48.00 to $51.00 and gave the stock an "equal weight" rating in a report on Monday, August 5th. Raymond James cut shares of Bank OZK from an "outperform" rating to a "market perform" rating in a research note on Tuesday, September 17th. Finally, Piper Sandler raised their target price on Bank OZK from $58.00 to $63.00 and gave the stock an "overweight" rating in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Bank OZK currently has an average rating of "Hold" and a consensus target price of $48.50.

Bank OZK Stock Up 2.0 %

Shares of NASDAQ:OZK traded up $0.96 during trading on Friday, reaching $49.31. 667,678 shares of the company traded hands, compared to its average volume of 1,276,799. The firm has a market cap of $5.59 billion, a P/E ratio of 8.08 and a beta of 1.16. The firm has a fifty day simple moving average of $44.30 and a 200 day simple moving average of $43.26. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12. Bank OZK has a 1-year low of $37.43 and a 1-year high of $52.36.

Institutional Investors Weigh In On Bank OZK

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp increased its holdings in Bank OZK by 7.3% in the third quarter. State Street Corp now owns 7,106,907 shares of the company's stock valued at $305,526,000 after purchasing an additional 485,172 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Bank OZK by 32.7% in the third quarter. Wellington Management Group LLP now owns 4,223,452 shares of the company's stock worth $181,566,000 after acquiring an additional 1,041,198 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Bank OZK by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,941,431 shares of the company's stock worth $169,442,000 after purchasing an additional 112,648 shares during the period. AQR Capital Management LLC raised its position in shares of Bank OZK by 291.5% during the second quarter. AQR Capital Management LLC now owns 2,371,892 shares of the company's stock worth $95,848,000 after purchasing an additional 1,765,974 shares during the period. Finally, Van Berkom & Associates Inc. grew its position in shares of Bank OZK by 2.0% in the 2nd quarter. Van Berkom & Associates Inc. now owns 2,024,130 shares of the company's stock valued at $82,989,000 after purchasing an additional 40,356 shares during the period. Institutional investors own 86.18% of the company's stock.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 11th were paid a $0.41 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.64 dividend on an annualized basis and a yield of 3.33%. This is a positive change from Bank OZK's previous quarterly dividend of $0.40. Bank OZK's payout ratio is currently 26.97%.

About Bank OZK

Bank OZK provides various retail and commercial banking services for individuals and businesses in the United States. The company offers deposit services, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time and reciprocal deposits.