Bank OZK [NASDAQ: OZK] gained 4.92% or 1.13 points to close at $24.08 with a heavy trading volume of 1581249 shares. The company report on October 23, 2020 that Bank OZK Announces Third Quarter 2020 Earnings.
Bank OZK (the Bank) (Nasdaq: OZK) today announced that net income for the third quarter of 2020 was $109.3 million, a 5.2% increase from $103.9 million for the third quarter of 2019. Diluted earnings per common share for the third quarter of 2020 were $0.84, a 3.7% increase from $0.81 for the third quarter of 2019.
For the nine months ended September 30, 2020, net income was $171.4 million, a 47.3% decrease from $325.1 million for the first nine months of 2019. Diluted earnings per common share for the first nine months of 2020 were $1.32, a 47.6% decrease from $2.52 for the first nine months of 2019.
It opened the trading session at $22.92, the shares rose to $24.22 and dropped to $22.77, the range by which the price of stock traded the whole day. The daily chart for OZK points out that the company has recorded 21.74% gains over the past six months. However, it is still -69.58% lower than its most recent low trading price.
If we look at the average trading volume of 859.71K shares, OZK reached to a volume of 1581249 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Bank OZK [OZK]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OZK shares is $27.90 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OZK stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Raymond James have made an estimate for Bank OZK shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 17, 2020. The new note on the price target was released on June 17, 2020, representing the official price target for Bank OZK stock.
The Average True Range (ATR) for Bank OZK is set at 0.88, with the Price to Sales ratio for OZK stock in the period of the last 12 months amounting to 2.88. The Price to Book ratio for the last quarter was 0.76, with the Price to Cash per share for the same quarter was set at 12.41. Price to Free Cash Flow for OZK in the course of the last twelve months was 12.24.
Trading performance analysis for OZK stock
Bank OZK [OZK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.98. With this latest performance, OZK shares gained by 17.46% in over the last four-week period, additionally plugging by 21.74% over the last 6 months – not to mention a drop of -19.68% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for OZK stock in for the last two-week period is set at 62.93, with the RSI for the last a single of trading hit 69.57, and the three-weeks RSI is set at 58.60 for Bank OZK [OZK]. The present Moving Average for the last 50 days of trading for this stock 22.66, while it was recorded at 22.50 for the last single week of trading, and 23.20 for the last 200 days.
Bank OZK [OZK]: A deeper dive into fundamental analysis
Bank OZK [OZK]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Bank OZK posted 0.81/share EPS, while the average EPS was predicted by analysts to be reported at 0.82/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -1.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for OZK. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Bank OZK go to 12.00%.
An analysis of insider ownership at Bank OZK [OZK]
There are presently around $2,727 million, or 91.20% of OZK stock, in the hands of institutional investors. The top three institutional holders of OZK stocks are: STATE STREET CORP with ownership of 17,926,213, which is approximately 28.833% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 11,605,063 shares of the stock with an approximate value of $279.45 million in OZK stocks shares; and BLACKROCK INC., currently with $258.32 million in OZK stock with ownership of nearly -3.517% of the company’s market capitalization.
146 institutional holders increased their position in Bank OZK [NASDAQ:OZK] by around 15,307,346 shares. Additionally, 151 investors decreased positions by around 9,612,066 shares, while 34 investors held positions by with 88,323,445 shares. The mentioned changes placed institutional holdings at 113,242,857 shares, according to the latest SEC report filing. OZK stock had 49 new institutional investments in for a total of 1,207,177 shares, while 45 institutional investors sold positions of 1,070,690 shares during the same period.