Analysts Set Bank OZK (NASDAQ:OZK) Price Target at $46.71

Bank OZK (NASDAQ:OZK) has been given an average recommendation of “Reduce” by the eight brokerages that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $46.71.

Several research analysts recently issued reports on OZK shares. Truist Financial lifted their target price on Bank OZK from $41.00 to $49.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. Morgan Stanley lifted their target price on Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Raymond James cut Bank OZK from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Stephens reaffirmed an “equal weight” rating and set a $50.00 target price on shares of Bank OZK in a research report on Thursday, July 18th. Finally, Wells Fargo & Company cut their price objective on Bank OZK from $39.00 to $35.00 and set an “underweight” rating on the stock in a research report on Thursday, June 6th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in OZK. AQR Capital Management LLC lifted its position in shares of Bank OZK by 291.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,371,892 shares of the company’s stock valued at $95,848,000 after buying an additional 1,765,974 shares during the last quarter. Norges Bank bought a new stake in shares of Bank OZK during the 4th quarter valued at $56,293,000. Millennium Management LLC raised its stake in shares of Bank OZK by 196.4% during the 2nd quarter. Millennium Management LLC now owns 1,365,393 shares of the company’s stock valued at $55,981,000 after purchasing an additional 904,782 shares during the period. Victory Capital Management Inc. raised its stake in shares of Bank OZK by 483.9% during the 2nd quarter. Victory Capital Management Inc. now owns 980,358 shares of the company’s stock valued at $40,195,000 after purchasing an additional 812,464 shares during the period. Finally, Berkley W R Corp bought a new stake in shares of Bank OZK during the 2nd quarter valued at $24,600,000. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Bank OZK Trading Up 1.2 %

NASDAQ OZK opened at $42.61 on Friday. The company has a market cap of $4.83 billion, a price-to-earnings ratio of 7.14 and a beta of 1.17. Bank OZK has a 52 week low of $34.76 and a 52 week high of $52.36. The business has a 50 day moving average price of $42.90 and a 200-day moving average price of $43.16. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.17.

Bank OZK (NASDAQ:OZK) last announced its earnings results on Wednesday, July 17th. The company reported $1.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.52. The company had revenue of $416.78 million for the quarter, compared to analysts’ expectations of $414.39 million. Bank OZK had a return on equity of 14.50% and a net margin of 27.04%. Bank OZK’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.47 earnings per share. As a group, equities analysts expect that Bank OZK will post 6.01 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 12th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date was Friday, July 12th. This is a boost from Bank OZK’s previous quarterly dividend of $0.39. Bank OZK’s dividend payout ratio is currently 26.80%.

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.