Tuesday, May 07, 2024 9:09:46 PM
https://finance.yahoo.com/news/bank-ozk-ozk-great-momentum-160009239.html
Zacks Equity Research
Mon, May 6, 2024 at 11:00 AM CDT·4 min read
In this article:
OZK
-0.59%
Watchlist
Watchlist
Patternyahoo finance plus locked badge
Neutral
trade type U
Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at Bank OZK (OZK), which currently has a Momentum Style Score of B. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. Bank OZK currently has a Zacks Rank of #2 (Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of A or B outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market?
In order to see if OZK is a promising momentum pick, let's examine some Momentum Style elements to see if this bank holds up.
A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.
For OZK, shares are up 1.59% over the past week while the Zacks Banks - Northeast industry is up 1.59% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 5.82% compares favorably with the industry's 0.59% performance as well.
Considering longer term price metrics, like performance over the last three months or year, can be advantageous as well. Over the past quarter, shares of Bank OZK have risen 9.87%, and are up 40.22% in the last year. In comparison, the S&P 500 has only moved 3.78% and 27.1%, respectively.
Investors should also take note of OZK's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. Right now, OZK is averaging 1,199,850 shares for the last 20 days.
Earnings Outlook
The Zacks Momentum Style Score also takes into account trends in estimate revisions, in addition to price changes. Please note that estimate revision trends remain at the core of Zacks Rank as well. A nice path here can help show promise, and we have recently been seeing that with OZK.
Over the past two months, 4 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost OZK's consensus estimate, increasing from $5.93 to $6.04 in the past 60 days. Looking at the next fiscal year, 5 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom Line
Taking into account all of these elements, it should come as no surprise that OZK is a #2 (Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep Bank OZK on your short list.
Recent OZK News
- Bank OZK Announces Record First Quarter 2024 Earnings • GlobeNewswire Inc. • 04/17/2024 08:01:52 PM
- Bank OZK First Quarter 2024 Management Comments • GlobeNewswire Inc. • 04/17/2024 08:01:38 PM
- US Index Futures See Gains, Oil Prices Dip • IH Market News • 04/17/2024 10:59:02 AM
- Bank OZK Announces Increase to Quarterly Common Stock Dividend and Announces Preferred Stock Dividend • GlobeNewswire Inc. • 04/01/2024 08:09:02 PM
- Bank OZK Announces Date for First Quarter 2024 Earnings Release and Conference Call • GlobeNewswire Inc. • 03/28/2024 08:01:00 PM
- Bank OZK Fourth Quarter and Full Year 2023 Management Comments • GlobeNewswire Inc. • 01/18/2024 09:01:52 PM
- Bank OZK Announces Record Fourth Quarter and Full Year 2023 Earnings • GlobeNewswire Inc. • 01/18/2024 09:01:47 PM
- Bank OZK Announces Increase to Quarterly Common Stock Dividend and Announces Preferred Stock Dividend • GlobeNewswire Inc. • 01/02/2024 09:01:00 PM
- Bank OZK Announces Date for Fourth Quarter and Full Year 2023 Earnings Release and Conference Call • GlobeNewswire Inc. • 12/28/2023 09:01:00 PM
- Randall Bond Joins Bank OZK as Regional Director for Trust and Wealth Group in Arkansas and Texas • GlobeNewswire Inc. • 11/14/2023 09:01:00 PM
- Toll Brothers Apartment Living and Canyon Partners Real Estate Announce New Joint Venture to Develop 400-Unit Luxury Rental Community in Mesa, Arizona • GlobeNewswire Inc. • 11/01/2023 08:30:00 PM
- Bank OZK Third Quarter and First Nine Months 2023 Management Comments • GlobeNewswire Inc. • 10/19/2023 08:01:53 PM
- Bank OZK Announces Record Third Quarter 2023 Earnings • GlobeNewswire Inc. • 10/19/2023 08:01:36 PM
- Bank OZK Announces Increase to Quarterly Common Stock Dividend and Announces Preferred Stock Dividend • GlobeNewswire Inc. • 10/02/2023 08:01:00 PM
- Bank OZK Announces Date for Third Quarter 2023 Earnings Release and Conference Call • GlobeNewswire Inc. • 09/29/2023 08:01:00 PM
- Bank OZK Second Quarter and First Six Months 2023 Management Comments • GlobeNewswire Inc. • 07/20/2023 08:10:44 PM
- Bank OZK Announces Record Second Quarter 2023 Earnings • GlobeNewswire Inc. • 07/20/2023 08:10:27 PM
- Bank OZK Announces Increase to Quarterly Common Stock Dividend and Announces Preferred Stock Dividend • GlobeNewswire Inc. • 07/03/2023 05:01:00 PM
- Bank OZK Announces Date for Second Quarter 2023 Earnings Release and Conference Call • GlobeNewswire Inc. • 06/29/2023 08:01:00 PM
- Belpointe OZ Secures $130 Million Construction Loan from Bank OZK for Sarasota Development Project—Aster & Links • GlobeNewswire Inc. • 06/07/2023 08:01:00 PM
Avant Technologies Engages Wired4Tech to Evaluate the Performance of Next Generation AI Server Technology • AVAI • May 23, 2024 8:00 AM
Branded Legacy, Inc. Unveils Collaboration with Celebrity Tattoo Artist Kat Tat for New Tattoo Aftercare Product • BLEG • May 22, 2024 8:30 AM
"Defo's Morning Briefing" Set to Debut for "GreenliteTV" • GRNL • May 21, 2024 2:28 PM
North Bay Resources Announces 50/50 JV at Fran Gold Project, British Columbia; Initiates NI 43-101 Resources Estimate and Bulk Sample • NBRI • May 21, 2024 9:07 AM
Greenlite Ventures Inks Deal to Acquire No Limit Technology • GRNL • May 17, 2024 3:00 PM
Music Licensing, Inc. (OTC: SONG) Subsidiary Pro Music Rights Secures Final Judgment of $114,081.30 USD, Demonstrating Strength of Licensing Agreements • SONGD • May 17, 2024 11:00 AM