Bank OZK (NASDAQ:OZK) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Bank OZK (NASDAQ:OZK – Get Rating) in a report issued on Thursday morning. The brokerage issued a hold rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods decreased their target price on shares of Bank OZK from $45.00 to $40.00 and set a market perform rating for the company in a research report on Wednesday, January 4th. Truist Financial increased their target price on shares of Bank OZK from $45.00 to $50.00 and gave the company a hold rating in a research report on Monday, January 23rd. UBS Group raised shares of Bank OZK from a neutral rating to a buy rating and decreased their target price for the company from $48.00 to $47.00 in a research report on Wednesday. Finally, Morgan Stanley increased their target price on shares of Bank OZK from $48.00 to $51.00 and gave the company an equal weight rating in a research report on Monday, January 23rd. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $47.44.

Bank OZK Price Performance

Shares of OZK opened at $35.64 on Thursday. The company has a 50 day moving average price of $43.66 and a 200-day moving average price of $42.71. Bank OZK has a fifty-two week low of $31.89 and a fifty-two week high of $49.52. The stock has a market capitalization of $4.47 billion, a PE ratio of 7.85 and a beta of 1.42. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.00 and a current ratio of 1.00.

Bank OZK (NASDAQ:OZK – Get Rating) last announced its quarterly earnings results on Thursday, January 19th. The company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. Bank OZK had a net margin of 40.86% and a return on equity of 13.13%. The firm had revenue of $360.03 million during the quarter, compared to analysts’ expectations of $338.35 million. Equities analysts predict that Bank OZK will post 5.89 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 24th. Shareholders of record on Tuesday, January 17th were paid a dividend of $0.34 per share. This is a positive change from Bank OZK’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, January 13th. This represents a $1.36 dividend on an annualized basis and a yield of 3.82%. Bank OZK’s dividend payout ratio is presently 29.96%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. State Street Corp increased its stake in shares of Bank OZK by 14.4% in the second quarter. State Street Corp now owns 12,251,944 shares of the company’s stock worth $459,815,000 after acquiring an additional 1,539,531 shares during the period. Norges Bank acquired a new stake in shares of Bank OZK in the fourth quarter worth $46,878,000. Millennium Management LLC increased its stake in shares of Bank OZK by 204.2% in the fourth quarter. Millennium Management LLC now owns 1,409,391 shares of the company’s stock worth $56,460,000 after acquiring an additional 946,106 shares during the period. Wedge Capital Management L L P NC acquired a new stake in shares of Bank OZK in the fourth quarter worth $31,275,000. Finally, AQR Capital Management LLC increased its stake in shares of Bank OZK by 75.5% in the second quarter. AQR Capital Management LLC now owns 548,600 shares of the company’s stock worth $20,040,000 after acquiring an additional 236,021 shares during the period. Institutional investors and hedge funds own 76.17% of the company’s stock.

About Bank OZK

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Bank OZK engages in the provision of community banking services. The firm offers deposit services such as checking, savings, money market, time deposit, and individual retirement accounts. It also provides loan services including types of real estate, consumer, commercial, industrial, and agricultural loans.