Bank Ozk Stock Price, News & Analysis

Bank OZK (Nasdaq: OZK) announced it will report its third quarter 2022 earnings after market close on October 20, 2022. A related management commentary will also be released at that time. A conference call for investors is scheduled for October 21, 2022, at 10:00 a.m. CT, accessible via webcast or telephone registration. As of June 30, 2022, Bank OZK recorded total assets of $25.92 billion and operates over 240 offices across eight states. Additional details are available on the Bank’s investor relations website.

Lionheart Strategic Management has secured $67.6 million in mezzanine loans and preferred equity for 601W Companies, which is redeveloping an office building at 801 South Canal Street, Chicago. This financing complements a $147.5 million senior loan from Bank OZK and aims to transform the site into a modern 700,000 sq. ft. office space. The project is part of a broader initiative in the area, which includes a nearby $1 billion renovation of the Old Post Office. Lionheart and Bank OZK also partnered on a $150 million funding project in Miami.

Bank OZK (Nasdaq: OZK) has released its second quarter 2022 management comments, now accessible on their investor relations website. As of June 30, 2022, the bank reported total assets of $25.92 billion and operates over 240 offices across eight states, including Arkansas, Georgia, and Florida. The bank specializes in innovative financial solutions and aims for excellence in its services. Investors can find further details through the Bank’s website or contact their investor relations team for inquiries.

Bank OZK (OZK) reported a net income of $132.4 million for Q2 2022, down 12.1% from $150.5 million in Q2 2021. Diluted earnings per share were $1.10, a decrease of 5.2%. For the first half of 2022, net income was $260.4 million, a 12.9% drop. The provision for credit losses rose to $7.0 million, contrasting with a negative provision of $30.9 million in Q2 2021. Despite challenges, pre-tax pre-provision net revenue increased 10.9% to $182.8 million. Loan growth was positive, with total loans at $18.74 billion, up 2.6%. The Bank repurchased 3.7 million shares at an average price of $39.93 during the quarter.

Bank OZK (Nasdaq: OZK) has declared a quarterly cash dividend of $0.32 per share, reflecting a 3.23% increase from the previous quarter. This marks the 48th consecutive quarter of dividend increases, showcasing the bank’s strong financial performance. The dividend is payable on July 22, 2022 to shareholders as of July 15, 2022. Additionally, a dividend of $0.28906 per share on its Series A Preferred Stock is scheduled for August 15, 2022. Bank OZK has been part of the S&P High Yield Dividend Aristocrats index since January 2018.

Bank OZK (Nasdaq: OZK) plans to report its second quarter 2022 earnings on July 21, 2022, after market close. A conference call to discuss the earnings will take place on July 22, 2022, at 10:00 a.m. CT. The call will be accessible via webcast and telephone for registered participants. As of March 31, 2022, the Bank has total assets of $26.56 billion and operates over 240 offices across eight states. Investors can find more information on the results and the conference call on the Bank's investor relations website.

Lionheart Strategic Management has announced a $150 million funding deal with Bank OZK and Two Roads Development for a new residential project in Miami. This includes a $45 million mezzanine loan from Lionheart, supported by a $105 million senior mortgage loan from Bank OZK. The funds will aid in demolishing an existing condominium to develop an ultra-luxury residential facility in Edgewater, known for its prime waterfront views and proximity to major attractions. The project aims to enhance the area's luxury market.

Bank OZK has completed its 4.8-megawatt solar power plant in Stuttgart, Arkansas, which will generate electricity for its new corporate headquarters and up to 40 locations in central Arkansas. This facility, featuring 11,265 solar panels, is one of Arkansas's largest commercial solar projects for a private sector client. The initiative aims to reduce the bank's carbon footprint by an estimated 160,000 tons of CO2 over the next 30 years. Tim Hicks, Chief Credit and Administrative Officer, emphasized the bank's commitment to sustainability and leadership in the financial sector.