Bank OZK (NASDAQ:OZK) is reporting second quarter financial results on Thursday 23rd July 2020, after market close.
According to analysts surveyed by Thomson Reuters, OZK is expected to report 2Q20 income of $ 0.33 per share from revenue of $ 233.42 million.
For the full year, analysts anticipate top line of $ 943.84 million, while looking forward to income of $ 1.51 per share bottom line.
Previous Quarter Performance
Bank OZK unfold income for the first quarter of $ 0.09 per share, from the revenue of $ 237.46 million. The quarterly earnings shrunk 89.53 percent while revenues fell 5.84 percent compared with the same quarter last year.
Street analysts expected Bank OZK to report income of $ 0.61 per share on revenue of $ 234.38 million for the first quarter. The bottom line results missed street analysts by $ 0.52 or 85.25 percent, at the same time, top line results outshined analysts by $ 3.08 million or 1.31 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of OZK was $ 23.71, representing a 66.97 % increase from the 52 week low of $ 14.20 and a 25.35 % decrease over the 52 week high of $ 31.76.
The company has a market capital of $ 3.07 billion and is part of the Financial Services sector and Banks – Regional – US industry.
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Recent Analyst recommendations
On 18th June 2020, downgraded by Citigroup to Neutral from Buy rating, with $ 26.00 target price.
On 17th June 2020, upgraded by Raymond James to Outperform from Market Perform rating.
On 8th June 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 28.00 target price.
Bank OZK provides retail and commercial banking services to businesses, individuals, and non-profit and governmental entities. The company accepts non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time deposits. Its loan products include loans secured by residential 1-4 family, non-farm/non-residential, agricultural, construction/land development, multifamily residential properties, and other land loans; small business and consumer loans; indirect consumer marine and RV loans; small business administration, farm service agency, and USDA guaranteed loans; commercial and industrial loans; and loans to businesses or individuals engages in the production of timber, poultry, livestock, or crops.
