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LITTLE ROCK, Ark., March 28, 2024 (GLOBE NEWSWIRE) -- Bank OZK (the “Bank”) (Nasdaq: OZK) expects to report its first quarter 2024 earnings after the market closes on Wednesday, April 17, 2024. Management's comments on the first quarter of 2024 will be released simultaneously with the earnings press release and will be available on the Bank's investor relations website.
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Bank OZK (OZK) have what it takes?
Shares of Bank OZK have fallen around 15% so far this year as investors once again fret about real estate exposure. The bank's strong underwriting record has powered impressive shareholder returns and profitability through multiple economic cycles. Despite the market's wider concerns, there is little evidence to suggest a meaningful deterioration in credit quality here just yet.
Higher rates, Bank OZK's (OZK) loan diversification efforts and organic growth are likely to keep aiding financials. This makes the stock worth investing in.
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Bank OZK (OZK) have what it takes?
The start of February saw a bit of a deja vu for regional bank stocks, with New York Community Bank (NYSE: NYCB ) shares crashing. Capital One (NYSE: COF ) also announced plans to merge with Discover Financials (NYSE: DFS ), underscoring the continued industry consolidation.
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Bank OZK (OZK) have what it takes?
Bank OZK (OZK) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Bank OZK's preferred shares are trading at a discount of over 30% and currently yield just over 7.1%. The bank's Q4 results show that the preferred dividends are well covered by a factor of over 4,000%. Bank OZK's balance sheet and risk management strategies indicate that it is navigating through risks well, particularly in the real estate segment.
Bank OZK (OZK) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.