Bank OZK (NASDAQ:OZK) Given Average Recommendation of “Hold” by Brokerages

Bank OZK (NASDAQ:OZK – Get Free Report) has been given a consensus recommendation of “Hold” by the ten analysts that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $56.8750.

Several equities research analysts recently issued reports on the company. Weiss Ratings upgraded Bank OZK from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. UBS Group raised their price objective on Bank OZK from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th. Wall Street Zen raised Bank OZK from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. TD Cowen cut their target price on Bank OZK from $53.00 to $52.00 and set a “hold” rating for the company in a research report on Friday, July 24th. Finally, Piper Sandler reiterated an “overweight” rating and set a $61.00 target price on shares of Bank OZK in a research report on Wednesday, July 22nd.

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Hedge Funds Weigh In On Bank OZK

Several hedge funds have recently bought and sold shares of OZK. Northwestern Mutual Wealth Management Co. raised its position in shares of Bank OZK by 2.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,305 shares of the company’s stock valued at $537,000 after buying an additional 212 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Bank OZK by 4.2% in the fourth quarter. Quadrant Capital Group LLC now owns 5,446 shares of the company’s stock valued at $251,000 after acquiring an additional 218 shares during the last quarter. Kera Capital Partners Inc. increased its stake in Bank OZK by 2.1% in the fourth quarter. Kera Capital Partners Inc. now owns 11,336 shares of the company’s stock valued at $539,000 after acquiring an additional 236 shares during the last quarter. Cardinal Capital Management raised its position in Bank OZK by 0.6% during the fourth quarter. Cardinal Capital Management now owns 48,979 shares of the company’s stock valued at $2,254,000 after purchasing an additional 277 shares in the last quarter. Finally, Cornerstone Wealth Management LLC raised its position in Bank OZK by 4.5% during the fourth quarter. Cornerstone Wealth Management LLC now owns 6,403 shares of the company’s stock valued at $295,000 after purchasing an additional 278 shares in the last quarter. 86.18% of the stock is owned by institutional investors.

Bank OZK Price Performance

Shares of Bank OZK stock opened at $49.48 on Friday. 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 stock has a market capitalization of $5.54 billion, a price-to-earnings ratio of 8.18 and a beta of 0.89. Bank OZK has a twelve month low of $42.37 and a twelve month high of $53.66. The company has a 50-day simple moving average of $51.03 and a two-hundred day simple moving average of $48.80.

Bank OZK (NASDAQ:OZK – Get Free Report) last announced its earnings results on Tuesday, July 21st. The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. Bank OZK had a net margin of 24.95% and a return on equity of 11.87%. The firm had revenue of $430.02 million for the quarter, compared to analyst estimates of $436.42 million. During the same quarter in the prior year, the business posted $1.47 EPS. The business’s revenue was up .5% compared to the same quarter last year. Analysts forecast that Bank OZK will post 5.85 EPS for the current year.

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

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Monday, July 13th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.9%. This is a boost from Bank OZK’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Monday, July 13th. Bank OZK’s payout ratio is presently 31.74%.

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.

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