Brokerages Set Bank OZK (NASDAQ:OZK) Price Target at $56.25

Shares of Bank OZK (NASDAQ:OZKGet Free Report) have been assigned an average rating of “Hold” from the ten analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $56.1250.

OZK has been the subject of a number of research reports. Weiss Ratings raised Bank OZK from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 23rd. Morgan Stanley lifted their price objective on Bank OZK from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Wells Fargo & Company boosted their target price on Bank OZK from $50.00 to $52.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Piper Sandler reissued an “overweight” rating and set a $61.00 target price on shares of Bank OZK in a research report on Wednesday. Finally, UBS Group assumed coverage on shares of Bank OZK in a research report on Tuesday, April 7th. They set a “neutral” rating and a $48.00 target price for the company.

Get Our Latest Research Report on Bank OZK

Hedge Funds Weigh In On Bank OZK

A number of hedge funds have recently made changes to their positions in the business. Wasatch Advisors LP boosted its position in Bank OZK by 34.9% during the 3rd quarter. Wasatch Advisors LP now owns 7,437,646 shares of the company’s stock worth $379,171,000 after purchasing an additional 1,924,387 shares during the period. Dimensional Fund Advisors LP raised its position in Bank OZK by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 6,625,660 shares of the company’s stock valued at $304,045,000 after purchasing an additional 38,592 shares during the period. State Street Corp raised its position in Bank OZK by 9.1% in the fourth quarter. State Street Corp now owns 6,556,105 shares of the company’s stock valued at $301,712,000 after purchasing an additional 546,785 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Bank OZK by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,554,014 shares of the company’s stock worth $209,576,000 after purchasing an additional 73,920 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Bank OZK by 4.6% during the first quarter. First Trust Advisors LP now owns 3,036,101 shares of the company’s stock worth $139,327,000 after purchasing an additional 134,490 shares in the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.

More Bank OZK News

Here are the key news stories impacting Bank OZK this week:

Bank OZK Stock Down 1.7%

Shares of NASDAQ OZK opened at $50.12 on Tuesday. The stock has a market capitalization of $5.61 billion, a PE ratio of 8.28 and a beta of 0.89. The company has a quick ratio of 1.00, a current ratio of 0.97 and a debt-to-equity ratio of 0.08. The firm has a fifty day moving average of $49.93 and a 200-day moving average of $48.27. Bank OZK has a 52-week low of $42.37 and a 52-week high of $53.66.

Bank OZK (NASDAQ:OZKGet Free Report) last issued its earnings results on Tuesday, July 21st. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.01. Bank OZK had a return on equity of 11.87% and a net margin of 24.95%.The business had revenue of $430.02 million for the quarter, compared to analyst estimates of $436.42 million. During the same period last year, the company posted $1.47 EPS. The business’s quarterly revenue was up .5% on a year-over-year basis. On average, analysts anticipate that Bank OZK will post 5.98 EPS for the current year.

Bank OZK announced that its board has initiated a stock repurchase program on Monday, June 29th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to reacquire up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Monday, July 13th were paid a dividend of $0.48 per share. This is an increase from Bank OZK’s previous quarterly dividend of $0.47. This represents a $1.92 annualized dividend and a yield of 3.8%. The ex-dividend date was Monday, July 13th. Bank OZK’s payout ratio is presently 31.27%.

Bank OZK Company Profile

(Get Free Report)

Bank OZK, formerly known as Bank of the Ozarks, is a regional commercial bank headquartered in Little Rock, Arkansas. Established in 1903, the bank offers a full suite of banking products and services to both individual and corporate clients. Through a combination of organic growth and targeted acquisitions, Bank OZK has built a diversified lending portfolio and a strong deposit franchise.

The bank’s core operations focus on commercial real estate lending, including acquisition, development and construction financing.

See Also

Analyst Recommendations for Bank OZK (NASDAQ:OZK)

Receive News & Ratings for Bank OZK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank OZK and related companies with MarketBeat.com's FREE daily email newsletter.