Bank OZK (NASDAQ:OZK) Price Target Raised to $57.00

Bank OZK (NASDAQ:OZK) had its price objective increased by Stephens from $53.00 to $57.00 in a research note published on Tuesday morning,Benzinga reports. Stephens currently has an equal weight rating on the stock.

A number of other research analysts also recently commented on the company. Truist Financial dropped their price objective on Bank OZK from $48.00 to $46.00 and set a “hold” rating on the stock in a report on Monday, October 21st. Piper Sandler increased their target price on shares of Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Wells Fargo & Company upgraded shares of Bank OZK from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $40.00 to $48.00 in a research note on Tuesday. Finally, UBS Group started coverage on Bank OZK in a report on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 target price for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $50.00.

Bank OZK Price Performance

OZK stock opened at $50.87 on Tuesday. The business’s 50-day moving average is $46.55 and its two-hundred day moving average is $44.43. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.03 and a quick ratio of 1.02. The firm has a market capitalization of $5.77 billion, a P/E ratio of 8.29 and a beta of 1.20. Bank OZK has a 1 year low of $37.43 and a 1 year high of $51.50.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings results on Thursday, January 16th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.44 by $0.12. The company had revenue of $412.34 million during the quarter, compared to analysts’ expectations of $407.19 million. Bank OZK had a net margin of 25.83% and a return on equity of 13.90%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.50 EPS. Analysts anticipate that Bank OZK will post 5.95 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 14th were paid a $0.42 dividend. This is an increase from Bank OZK’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend was Tuesday, January 14th. Bank OZK’s dividend payout ratio (DPR) is 27.36%.

Institutional Investors Weigh In On Bank OZK

Several hedge funds have recently modified their holdings of OZK. Assetmark Inc. boosted its holdings in shares of Bank OZK by 73.8% in the third quarter. Assetmark Inc. now owns 968 shares of the company’s stock valued at $42,000 after acquiring an additional 411 shares in the last quarter. American National Bank & Trust purchased a new position in Bank OZK in the third quarter worth $44,000. Abich Financial Wealth Management LLC acquired a new stake in Bank OZK in the second quarter valued at $49,000. Capital Performance Advisors LLP acquired a new position in shares of Bank OZK during the 3rd quarter worth $61,000. Finally, Venturi Wealth Management LLC increased its holdings in shares of Bank OZK by 424.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,590 shares of the company’s stock valued at $68,000 after purchasing an additional 1,287 shares in the last quarter. 86.18% of the stock is owned by institutional investors and hedge funds.

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.