Analysts Set Bank OZK (NASDAQ:OZK) Price Target at $46.29

Shares of Bank OZK (NASDAQ:OZK) have been given a consensus recommendation of “Reduce” by the eight research firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $46.29.

OZK has been the subject of a number of recent research reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $48.00 price objective on shares of Bank OZK in a research report on Monday, April 22nd. Citigroup cut Bank OZK from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $57.00 to $37.00 in a research report on Wednesday, May 29th. StockNews.com raised Bank OZK from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Stephens reissued an “equal weight” rating and issued a $50.00 price target on shares of Bank OZK in a report on Thursday, July 18th. Finally, Truist Financial raised their price target on Bank OZK from $41.00 to $49.00 and gave the company a “hold” rating in a report on Monday, July 22nd.

Bank OZK Trading Down 4.5 %

NASDAQ:OZK opened at $44.79 on Friday. The stock’s 50 day moving average price is $41.95 and its 200 day moving average price is $43.84. The company has a market capitalization of $5.08 billion, a PE ratio of 7.50 and a beta of 1.20. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.17. Bank OZK has a 52-week low of $34.76 and a 52-week high of $52.36.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $1.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.52. Bank OZK had a return on equity of 14.50% and a net margin of 27.04%. The company had revenue of $416.78 million during the quarter, compared to analysts’ expectations of $414.39 million. During the same period last year, the firm earned $1.47 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, research analysts anticipate that Bank OZK will post 6.05 EPS for the current year.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 12th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, July 12th. This is a boost from Bank OZK’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 3.57%. Bank OZK’s payout ratio is currently 26.80%.

Hedge Funds Weigh In On Bank OZK

Several hedge funds and other institutional investors have recently bought and sold shares of OZK. Norges Bank acquired a new position in Bank OZK during the fourth quarter worth $56,293,000. Vanguard Group Inc. raised its holdings in Bank OZK by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 12,028,779 shares of the company’s stock worth $599,394,000 after purchasing an additional 502,005 shares during the last quarter. Wellington Management Group LLP raised its holdings in Bank OZK by 18.8% during the fourth quarter. Wellington Management Group LLP now owns 1,897,696 shares of the company’s stock worth $94,562,000 after purchasing an additional 300,025 shares during the last quarter. Epoch Investment Partners Inc. acquired a new position in Bank OZK during the fourth quarter worth $10,624,000. Finally, Goldman Sachs Group Inc. increased its position in Bank OZK by 136.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 359,814 shares of the company’s stock worth $17,930,000 after buying an additional 207,341 shares in the last quarter. 86.18% of the stock is owned by institutional investors and hedge funds.

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.