Regional banking company Bank OZK (NASDAQ: OZK) will be announcing earnings results this Thursday after the bell. Here’s what to expect.
Bank OZK missed analysts’ revenue expectations by 7.2% last quarter, reporting revenues of $392.8 million, up 6.8% year on year. It was a slower quarter for the company, with a significant miss of analysts’ revenue estimates and a narrow beat of analysts’ EPS estimates.
Is Bank OZK a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Bank OZK’s revenue to grow 19.1% year on year to $446.9 million, improving from the 10.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.66 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Bank OZK has missed Wall Street’s revenue estimates twice since going public.
Looking at Bank OZK’s peers in the banks segment, some have already reported their Q3 results, giving us a hint as to what we can expect. FB Financial delivered year-on-year revenue growth of 94.2%, beating analysts’ expectations by 4.2%, and Citigroup reported revenues up 9.3%, topping estimates by 4.6%.
Read our full analysis of FB Financial’s results here and Citigroup’s results here.
Investors in the banks segment have had fairly steady hands going into earnings, with share prices down 1.5% on average over the last month. Bank OZK’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $58.10 (compared to the current share price of $52).
P.S. While everyone's chasing Nvidia, we found a hidden AI semiconductor winner trading at a fraction of the price. See our #1 pick before Wall Street catches on.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
