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Growth in loans and deposits and higher rates support Bank OZK's (OZK) Q3 earnings.
Although the revenue and EPS for Bank OZK (OZK) give a sense of how its business performed in the quarter ended September 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Bank OZK (OZK) came out with quarterly earnings of $1.49 per share, beating the Zacks Consensus Estimate of $1.44 per share. This compares to earnings of $1.08 per share a year ago.
Bank OZK (OZK) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
A weekly summary of dividend activity for Dividend Champions, Contenders, and Challengers. Companies which changed their dividends. Companies with upcoming ex-dividend dates.
Five stocks to watch for their recent dividend hikes are: OZK, MCD, RPM, LMT, AOS.
Bank OZK (OZK) maintains its record of hiking the quarterly dividend. The dividend announcement of 37 cents per share marks the 53rd consecutive quarterly rise in dividend payouts.
LITTLE ROCK, Ark., Sept. 29, 2023 (GLOBE NEWSWIRE) -- Bank OZK (the “Bank”) (Nasdaq: OZK) expects to report third quarter 2023 earnings after the market closes on Thursday, October 19, 2023. Management's comments on the third quarter of 2023 will be released simultaneously with the earnings press release and will be available on the Bank's investor relations website.
Bank OZK's preferred stock has underperformed due to high interest rates and inflation, but this is expected to be temporary. The preferred stock is offering a secure 7.7% dividend and up to 65% upside potential. Bank OZK has exhibited strong business performance, with market-leading net interest margin and earnings growth, making it a resilient and well-managed bank.
Branch consolidation efforts and strong loan balance are likely to support Bank OZK (OZK). However, elevated expenses and huge exposure to real estate loans remain concerns.