Keefe, Bruyette & Woods Boosts Bank OZK (NASDAQ:OZK) Price Target to $47.00

Bank OZK (NASDAQ:OZK) had its price target raised by Keefe, Bruyette & Woods from $45.00 to $47.00 in a report published on Monday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Several other equities research analysts also recently issued reports on OZK. Raymond James raised 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. UBS Group cut shares of Bank OZK from a buy rating to a neutral rating in a research note on Monday, January 8th. Truist Financial lowered their price target on shares of Bank OZK from $48.00 to $47.00 and set a hold rating for the company in a report on Monday. Wells Fargo & Company decreased their price target on shares of Bank OZK from $41.00 to $39.00 and set an underweight rating for the company in a report on Thursday, February 1st. Finally, Citigroup cut their price objective on shares of Bank OZK from $62.00 to $57.00 and set a buy rating on the stock in a research report on Wednesday, March 13th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Bank OZK currently has a consensus rating of Hold and an average price target of $49.14.

Bank OZK Stock Performance

Shares of OZK stock opened at $46.37 on Monday. Bank OZK has a 52 week low of $30.72 and a 52 week high of $52.36. The company has a market cap of $5.25 billion, a PE ratio of 7.77 and a beta of 1.27. The company has a current ratio of 1.01, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14. The company’s fifty day simple moving average is $43.63 and its 200-day simple moving average is $43.47.

Bank OZK (NASDAQ:OZK) last posted its earnings results on Thursday, April 18th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.07. The firm had revenue of $406.02 million during 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 14.84%. During the same period in the previous year, the business posted $1.41 EPS. As a group, equities research analysts anticipate that Bank OZK will post 5.91 EPS for the current year.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 12th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.36%. This is a positive change from Bank OZK’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, April 11th. Bank OZK’s dividend payout ratio (DPR) is 26.13%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. National Bank of Canada FI increased its holdings in shares of Bank OZK by 17.9% in the 3rd quarter. National Bank of Canada FI now owns 4,790 shares of the company’s stock worth $173,000 after buying an additional 727 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Bank OZK by 394.9% during the third quarter. SG Americas Securities LLC now owns 32,621 shares of the company’s stock valued at $1,209,000 after purchasing an additional 26,030 shares during the last quarter. Naples Global Advisors LLC increased its holdings in shares of Bank OZK by 14.9% during the third quarter. Naples Global Advisors LLC now owns 14,635 shares of the company’s stock valued at $543,000 after acquiring an additional 1,900 shares in the last quarter. BTC Capital Management Inc. increased its holdings in shares of Bank OZK by 1.6% during the third quarter. BTC Capital Management Inc. now owns 18,982 shares of the company’s stock valued at $704,000 after acquiring an additional 304 shares in the last quarter. Finally, KG&L Capital Management LLC purchased a new stake in shares of Bank OZK during the third quarter valued at $213,000. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

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.