Bank OZK (NASDAQ:OZK) Stock Price Up 4.3% on Better-Than-Expected Earnings

Bank OZK (NASDAQ:OZK - Get Free Report)'s share price rose 4.3% on Thursday following a stronger than expected earnings report. The stock traded as high as $41.17 and last traded at $41.03. Approximately 717,494 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 1,452,926 shares. The stock had previously closed at $39.34.

The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.05. The company had revenue of $409.23 million for the quarter, compared to analyst estimates of $403.05 million. Bank OZK had a return on equity of 13.90% and a net margin of 25.83%. During the same period in the prior year, the firm posted $1.51 EPS.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 14th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend is Monday, April 14th. This is a positive change from Bank OZK's previous quarterly dividend of $0.42. Bank OZK's dividend payout ratio (DPR) is presently 28.20%.

Analysts Set New Price Targets

Several equities analysts have weighed in on OZK shares. Morgan Stanley cut their target price on Bank OZK from $58.00 to $54.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. Stephens upped their target price on Bank OZK from $53.00 to $57.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 21st. Finally, Wells Fargo & Company reduced their price objective on shares of Bank OZK from $48.00 to $40.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Bank OZK currently has an average rating of "Hold" and a consensus price target of $49.38.

Hedge Funds Weigh In On Bank OZK

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors LP increased its position in shares of Bank OZK by 19.3% during the fourth quarter. Wasatch Advisors LP now owns 7,102,657 shares of the company's stock valued at $316,281,000 after purchasing an additional 1,149,880 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Bank OZK by 4.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,130,006 shares of the company's stock valued at $183,909,000 after buying an additional 188,575 shares during the period. First Trust Advisors LP raised its stake in shares of Bank OZK by 30.4% in the 4th quarter. First Trust Advisors LP now owns 2,945,480 shares of the company's stock valued at $131,162,000 after buying an additional 686,775 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Bank OZK by 12.6% during the 4th quarter. AQR Capital Management LLC now owns 2,811,354 shares of the company's stock worth $125,190,000 after acquiring an additional 314,488 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Bank OZK by 12.3% during the 4th quarter. American Century Companies Inc. now owns 2,176,997 shares of the company's stock valued at $96,942,000 after acquiring an additional 238,810 shares in the last quarter. 86.18% of the stock is currently owned by institutional investors.

Bank OZK Stock Performance

The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.02 and a current ratio of 1.03. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 6.78 and a beta of 1.05. The firm's 50-day moving average price is $44.36 and its two-hundred day moving average price is $45.83.

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.