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Why Shares of Bank OZK Blasted Higher Today

TheMotleyFool

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Why Shares of Bank OZK Blasted Higher TodayPhoto, wide shot, wide-angle lens, Hedge fund, neutral atmosphere, photo by Charlie Waite: https://img.theapi.app/temp/95282efd-f725-49c0-be40-aa74627f7ccc.png

Shares of Bank OZK (NASDAQ: OZK) closed nearly 12% higher on Friday, well outpacing both the broader stock market and many fellow banks. This followed the release of the bank's Q1 of fiscal 2020 results, which actually revealed a scary drop in net profit and sinking revenue.

Bank OZK's net income for the quarter was $11.9 million, down almost 90% from Q1 2019. Revenue fell 6% to slightly under $300 million.

Image source: Bank OZK.

Source Fool.com

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