Analysts Set Bank OZK (NASDAQ:OZK) Target Price at $48.14

Bank OZK (NASDAQ:OZK) has been given an average recommendation of “Hold” by the seven brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $48.14.

A number of brokerages have weighed in on OZK. Raymond James raised shares of Bank OZK from a “market perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a research report on Friday, January 5th. Citigroup lowered their price target on Bank OZK from $62.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Truist Financial reduced their price objective on Bank OZK from $52.00 to $48.00 and set a “hold” rating on the stock in a research note on Monday, April 1st. UBS Group lowered Bank OZK from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. Finally, Wells Fargo & Company decreased their price target on Bank OZK from $41.00 to $39.00 and set an “underweight” rating for the company in a report on Thursday, February 1st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Arcus Capital Partners LLC boosted its stake in Bank OZK by 23.0% in the 1st quarter. Arcus Capital Partners LLC now owns 6,641 shares of the company’s stock worth $302,000 after purchasing an additional 1,242 shares during the period. Norden Group LLC purchased a new position in shares of Bank OZK during the first quarter valued at $225,000. Redmont Wealth Advisors LLC grew its holdings in shares of Bank OZK by 7.4% during the first quarter. Redmont Wealth Advisors LLC now owns 17,759 shares of the company’s stock valued at $807,000 after buying an additional 1,217 shares in the last quarter. Naviter Wealth LLC raised its position in Bank OZK by 50.2% during the first quarter. Naviter Wealth LLC now owns 51,457 shares of the company’s stock valued at $2,339,000 after buying an additional 17,192 shares during the period. Finally, State of Michigan Retirement System lifted its stake in Bank OZK by 2.4% in the 1st quarter. State of Michigan Retirement System now owns 25,812 shares of the company’s stock worth $1,173,000 after acquiring an additional 600 shares in the last quarter. 86.18% of the stock is currently owned by institutional investors and hedge funds.

Bank OZK Stock Performance

Shares of OZK opened at $44.94 on Wednesday. Bank OZK has a 1 year low of $30.72 and a 1 year high of $52.36. The company’s 50 day simple moving average is $43.37 and its 200 day simple moving average is $43.15. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 7.53 and a beta of 1.27. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.03 and a current ratio of 1.03.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings data on Thursday, April 18th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.07. The business had revenue of $406.02 million for the quarter, compared to analyst estimates of $396.81 million. Bank OZK had a net margin of 28.54% and a return on equity of 15.10%. During the same period in the prior year, the firm posted $1.41 EPS. On average, sell-side analysts predict that Bank OZK will post 5.87 EPS for the current year.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 12th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.47%. This is a boost from Bank OZK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, April 11th. Bank OZK’s payout ratio is presently 26.13%.

Bank OZK Company Profile

Bank OZK provides various retail and commercial banking services for individuals and businesses in the United States. The company offers deposit services, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time and reciprocal deposits.