Analysts Set Bank OZK (NASDAQ:OZK) Target Price at $56.88

Shares of Bank OZK (NASDAQ:OZK) have been given a consensus rating of “Hold” by the eleven analysts that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $56.8750.

A number of equities analysts have commented on OZK shares. Morgan Stanley downgraded shares of Bank OZK from an “equal weight” rating to an “underweight” rating and set a $56.00 price objective for the company. in a report on Tuesday, September 8th. Raymond James Financial assumed coverage on shares of Bank OZK in a research report on Tuesday, September 1st. They issued a “market perform” rating on the stock. Wall Street Zen raised shares of Bank OZK from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Piper Sandler reaffirmed an “overweight” rating and set a $61.00 price objective on shares of Bank OZK in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company increased their price objective on shares of Bank OZK from $52.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Monday, August 10th.

Institutional Trading of Bank OZK

Several hedge funds have recently made changes to their positions in the stock. BOKF NA bought a new position in Bank OZK during the 3rd quarter worth $27,000. Eurizon Capital SGR S.p.A. bought a new stake in Bank OZK in the fourth quarter valued at $36,000. Transamerica Financial Advisors LLC boosted its holdings in shares of Bank OZK by 111.2% during the fourth quarter. Transamerica Financial Advisors LLC now owns 830 shares of the company’s stock valued at $38,000 after acquiring an additional 437 shares during the period. IFP Advisors Inc boosted its holdings in shares of Bank OZK by 1,307.5% during the second quarter. IFP Advisors Inc now owns 746 shares of the company’s stock valued at $39,000 after acquiring an additional 693 shares during the period. Finally, Atlas Capital Advisors Inc. acquired a new position in shares of Bank OZK during the fourth quarter valued at $47,000. Institutional investors own 86.18% of the company’s stock.

Bank OZK Stock Performance

NASDAQ:OZK opened at $49.09 on Wednesday. The company has a market cap of $5.49 billion, a PE ratio of 8.11 and a beta of 0.88. The business’s 50 day moving average is $50.53 and its two-hundred day moving average is $48.78. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.08. Bank OZK has a 52 week low of $42.37 and a 52 week high of $53.41.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. The business had revenue of $430.02 million during the quarter, compared to the consensus estimate of $436.42 million. Bank OZK had a return on equity of 11.87% and a net margin of 24.95%.The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the business earned $1.47 EPS. On average, analysts predict that Bank OZK will post 5.83 EPS for the current year.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Monday, July 13th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.9%. This is a boost from Bank OZK’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Monday, July 13th. Bank OZK’s dividend payout ratio is currently 31.74%.

Bank OZK announced that its Board of Directors has authorized a share repurchase program on Monday, June 29th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Bank OZK Company Profile

Bank OZK is a regional financial institution headquartered in Little Rock, Arkansas. The company provides banking services to individuals, businesses and institutions through a network of banking offices concentrated in the Southeastern United States and select markets, including New York and California.

Its products and services include checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, commercial and industrial financing, treasury management and other business banking solutions.