Wells Fargo & Company Cuts Bank OZK (NASDAQ:OZK) Price Target to $40.00

Bank OZK (NASDAQ:OZK) had its price target cut by Wells Fargo & Company from $48.00 to $40.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential downside of 2.78% from the company’s previous close.

Several other research firms have also weighed in on OZK. Morgan Stanley reduced their target price on shares of Bank OZK from $58.00 to $54.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. UBS Group started coverage on Bank OZK in a report on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 price objective for the company. Finally, Stephens boosted their price objective on Bank OZK from $53.00 to $57.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Bank OZK presently has a consensus rating of “Hold” and an average target price of $49.38.

Bank OZK Price Performance

OZK stock traded up $3.56 on Wednesday, reaching $41.14. The company had a trading volume of 1,352,672 shares, compared to its average volume of 1,306,806. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.02 and a current ratio of 1.03. The company’s fifty day moving average is $46.49 and its 200 day moving average is $46.00. The company has a market cap of $4.67 billion, a P/E ratio of 6.70 and a beta of 1.05. Bank OZK has a 1 year low of $35.80 and a 1 year high of $53.64.

Bank OZK (NASDAQ:OZK) last announced its earnings results on Thursday, January 16th. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.12. The firm had revenue of $412.34 million during the quarter, compared to the consensus estimate 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 for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.50 EPS. On average, research analysts forecast that Bank OZK will post 6.02 earnings per share for the current year.

Institutional Trading of Bank OZK

Several hedge funds have recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Bank OZK in the 4th quarter valued at $27,000. Kestra Investment Management LLC acquired a new position in shares of Bank OZK in the 4th quarter worth approximately $27,000. Smartleaf Asset Management LLC grew its holdings in shares of Bank OZK by 176.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 761 shares of the company’s stock worth $34,000 after purchasing an additional 486 shares during the last quarter. V Square Quantitative Management LLC raised its stake in shares of Bank OZK by 81.3% in the fourth quarter. V Square Quantitative Management LLC now owns 948 shares of the company’s stock worth $42,000 after acquiring an additional 425 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Bank OZK during the fourth quarter worth approximately $54,000. Institutional investors own 86.18% of the company’s stock.

About Bank OZK

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.