Bank OZK (OZK) Stock Moves -0.96%: What You Should Know
In the latest trading session, Bank OZK (OZK) closed at $42.29, marking a -0.96% move from the previous day. This move was narrower than the S&P 500's daily loss of 2.37%. At the same time, the Dow lost 1.35%, and the tech-heavy Nasdaq lost 0.21%.
Heading into today, shares of the bank had gained 1.93% over the past month, outpacing the Finance sector's loss of 6.57% and the S&P 500's loss of 6.51% in that time.
Wall Street will be looking for positivity from Bank OZK as it approaches its next earnings report date. This is expected to be October 20, 2022. On that day, Bank OZK is projected to report earnings of $1.18 per share, which would represent year-over-year growth of 18%. Our most recent consensus estimate is calling for quarterly revenue of $303.08 million, up 10.64% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.50 per share and revenue of $1.19 billion, which would represent changes of +0.67% and +7.67%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Bank OZK. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.36% higher. Bank OZK is holding a Zacks Rank of #1 (Strong Buy) right now.
In terms of valuation, Bank OZK is currently trading at a Forward P/E ratio of 9.48. For comparison, its industry has an average Forward P/E of 9.66, which means Bank OZK is trading at a discount to the group.
The Banks - Northeast industry is part of the Finance sector. This group has a Zacks Industry Rank of 13, putting it in the top 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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