Bank Ozk Stock Price, News & Analysis

Bank OZK (Nasdaq: OZK) has made its fourth quarter and full year 2022 management comments available for review on its investor relations website. As of December 31, 2022, the bank reported total assets of $27.66 billion and operates over 240 offices across eight states, including Arkansas and California. Established in 1903, Bank OZK continues its commitment to providing innovative financial solutions through expert banking services. The bank files required reports with the FDIC, which are accessible through its website.

Bank OZK (Nasdaq: OZK) reported a net income of $158.8 million for Q4 2022, up 6.1% from Q4 2021. The diluted earnings per share increased 14.5% to $1.34. For the full year, net income fell 5.4% to $547.5 million, while EPS rose 1.6% to a record $4.54.

Provisions for credit losses were significant, totaling $32.5 million for Q4 2022 and $83.5 million for the year, compared to negative provisions in 2021. Total loans grew 13.5% year-over-year, and deposits increased 6.4%. The Bank repurchased 8.37 million shares at an average cost of $41.80.

A joint venture between Goldman Sachs Asset Management and Lane Partners has successfully completed the recapitalization of Southline Phase I, a prominent life science development in South San Francisco. This project, located near public transit options, will consist of two buildings totaling over 715,000 square feet, offering innovative spaces for life science and technology firms. Construction financing has been secured through Square Mile Capital and Bank OZK. The project aims to enhance tenant growth and is positioned within a key life science cluster, reflecting confidence in the Bay Area market.

Bank OZK (Nasdaq: OZK) has announced its 50th consecutive quarterly cash dividend, declaring a dividend of $0.34 per share, marking a 3.03% increase from the previous quarter. This dividend is due to be paid on January 24, 2023, to shareholders of record as of January 17, 2023. Additionally, the Board declared a dividend of $0.28906 per share on its 4.625% Series A Preferred Stock (Nasdaq: OZKAP) for the period ending February 15, 2023.

Bank OZK has maintained its spot in the S&P High Yield Dividend Aristocrats® index since January 2018, demonstrating a consistent increase in dividends.

Bank OZK (Nasdaq: OZK) will announce its fourth quarter and full year 2022 earnings on January 19, 2023, after market close. The management's commentary will be available alongside the earnings release on the Bank's investor relations website. A conference call for investors is scheduled for January 20, 2023, at 10:00 a.m. CT, accessible via webcast or telephone. As of September 30, 2022, Bank OZK reported total assets of $26.23 billion and operates over 240 offices across eight states.

Bank OZK (Nasdaq: OZK) has appointed Jordan Waldrep as the new Chief Investment Officer for Trust and Wealth. Waldrep, a CFA charterholder with over 20 years of experience in investment management, will lead the team responsible for providing investment and wealth management strategies to clients. His previous roles include CIO at TrueMark Investments and portfolio manager at USA Mutuals. Bank OZK, established in 1903, operates over 240 branches across eight states and reported total assets of $26.23 billion as of September 30, 2022.

Bank OZK (Nasdaq: OZK) announced a new stock repurchase program allowing for the buyback of up to $300 million of its outstanding common stock. This program follows the expiration of a previous repurchase initiative on November 4, 2022, and has received all necessary regulatory approvals. The repurchase may occur until November 9, 2023, or until the total cost of shares reaches $300 million. Management will decide on the timing of repurchases based on various financial and market conditions.

Bank OZK reported a net income of $128.3 million for Q3 2022, down 1.5% from Q3 2021. Diluted EPS increased by 8.0% to $1.08. For the first nine months, net income decreased by 9.4% to $388.7 million. The provision for credit losses rose to $39.8 million in Q3 2022 compared to a negative provision in Q3 2021. Total loans reached $19.51 billion, a 6.6% increase year-over-year. The bank repurchased 1.23 million shares for $47.7 million in Q3. Pre-tax pre-provision net revenue (PPNR) surged 27.2% to $208.1 million.

Bank OZK (Nasdaq: OZK) reported its third quarter 2022 management comments on October 20, 2022, highlighting its financial status as of September 30, 2022, with total assets of $26.23 billion. The bank operates over 240 offices across eight states, including Arkansas and Texas, focusing on innovative financial solutions. Investors can find more details on the bank's investor relations website.