Bank Ozk Stock Price, News & Analysis

Bank OZK (Nasdaq: OZK) is set to announce its second quarter 2021 earnings on July 22, 2021, after market close. Management will provide insights during a conference call scheduled for July 23, 2021, at 10:00 a.m. CT. The bank operates across 250 locations in eight states with total assets amounting to $27.28 billion as of March 31, 2021. Investors can access the earnings report and the conference call via the Bank's investor relations website.

Bank OZK (Nasdaq: OZK) has commenced construction of a $6 million solar power plant in Arkansas, marking a significant step in its sustainable energy initiative. The 4.8-megawatt facility will supply power to the Bank's new headquarters and 40 locations across the state, positioning it as the largest renewable investment by a financial services firm in Arkansas. Expected to generate over 8.1 million kilowatt-hours annually, this project aims to reduce the Bank's carbon footprint by 160,000 tons over the next 30 years.

Bank OZK reported a record net income of $148.4 million for Q1 2021, up from $11.9 million in Q1 2020. Diluted EPS rose to $1.14 from $0.09. The bank experienced a $31.6 million negative provision for credit losses, lowering its total allowance to $342.3 million. Total loans increased by 2.7% year-over-year to $18.72 billion, while deposits grew 13.2% to $21.30 billion. Annualized returns on equity metrics significantly improved compared to last year, affirming the bank's strong performance and outlook.

Bank OZK (Nasdaq: OZK) has released its management comments for the first quarter of 2021, now available on their investor relations website. The bank, headquartered in Little Rock, Arkansas, operates over 250 branches across several states, providing innovative financial solutions. Investors can access annual, quarterly, and current reports required by the Securities Exchange Act of 1934 on the FDIC's website or Bank OZK's investor relations page. For more details, stakeholders may contact Investor Relations.

Shopoff Realty Investments has secured a $105 million construction loan from Bank OZK for the I-10 Logistics Center project in Riverside County. This joint venture, alongside Artemis Real Estate Partners, will develop over 1.8 million square feet of state-of-the-art logistics space on 155 acres. Construction is set to start in April 2021, with completion expected by summer 2022. The project aims to meet the growing demand for logistics facilities in Southern California, featuring high cube warehouses designed for LEED Silver Certification.

Bank OZK (Nasdaq: OZK) has declared a quarterly cash dividend of $0.28 per share, payable on April 19, 2021, to shareholders on record as of April 12, 2021. This represents a 0.90% increase from the previous quarter's dividend, marking 43 consecutive quarters of dividend growth. Bank OZK has been part of the S&P High Yield Dividend Aristocrats index since January 2018, showcasing its commitment to increasing shareholder returns over time.

Bank OZK (Nasdaq: OZK) will report its first quarter 2021 earnings on April 22, 2021, after market close. A conference call for analysts and investors is scheduled for April 23, 2021, at 10:00 a.m. CT. The call can be accessed by phone or online. Bank OZK, established in 1903, operates more than 250 offices across eight states and had total assets of $27.16 billion as of December 31, 2020. Management's comments and the earnings report will be available on the Bank's investor relations website.

Bank OZK has received approval from the Arkansas Public Service Commission and the FDIC to build a solar power plant, which will be the third-largest commercial solar facility for a private sector client in Arkansas. The $6 million initiative aims to generate 4.8 megawatts of electricity, enough to power the Bank's headquarters and 40 additional offices. The plant, developed by Scenic Hill Solar, will utilize over 11,000 solar panels and reduce carbon emissions by approximately 160,000 tons over 30 years, reflecting the Bank's commitment to sustainability.

Bank OZK reported a 19.5% increase in net income to $120.5 million for Q4 2020, compared to $100.8 million in Q4 2019. Diluted EPS rose 19.2% to $0.93. However, full-year net income fell 31.5% to $291.9 million, and diluted EPS decreased 31.5% to $2.26. Total loans increased 9.6% year over year to $19.21 billion, while total assets grew 15.3% to $27.16 billion. Despite challenges from COVID-19, the bank maintained strong capital and liquidity positions.