Bank OZK's Q2 net income falls 8.7% yr/yr

Overview

• US regional bank's Q2 net income fell 8.7% yr/yr

• Diluted EPS for Q2 declined 5.7% from prior year

• Company cited higher book value, capital ratios, and loan portfolio diversification

Outlook

• Bank OZK did not provide specific guidance for the current or future periods

Result Drivers

• LOAN PORTFOLIO DIVERSIFICATION - Co said it continued to make progress diversifying its loan portfolio

• CAPITAL RATIOS - Co reported meaningful increases in capital ratios

Company press release: ID:nGNX4rVVjx

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 6 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "buy."

• Wall Street's median 12-month price target for Bank Ozk is $53.00, about 3.1% above its July 20 closing price of $51.43

• The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago

Reuters Recommended Reads

• July 20 - ServisFirst Bancshares Q2 EPS rises 40% on loan growth, higher net interest margin

• July 21 - KeyCorp quarterly profit rises on interest income strength

• July 21 - FFB Bancorp's Q2 net income falls on interest margin pressure

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)