Bank OZK Posts Lower Q1 Profit, Misses EPS Estimate

Overview

• Bank OZK reported first-quarter results Tuesday, posting net income of $159.3 million and earnings of $1.44 per share.
• EPS came in below the $1.46 consensus from six analysts surveyed by Zacks, according to Associated Press reporting.
• Net interest income reached $385.6 million, which rose 3% from a year ago but fell 5.3% from the fourth quarter; this measure reflects interest earned on loans minus interest paid on deposits.
• The bank ended March 31 with nearly $41.7 billion in assets, deposits of $33.8 billion, and loans of almost $33 billion.
• The quarterly dividend was raised to 47 cents per share on April 1 and paid April 20, extending a 63-quarter streak of increases, and management will host a Q&A call at 7:30 a.m. CT on Wednesday.