Brokerages Set Bank OZK (NASDAQ:OZK) Target Price at $49.33

Bank OZK (NASDAQ:OZK) has been assigned an average rating of “Reduce” from the nine analysts that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $49.33.

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Bank OZK from $35.00 to $40.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 3rd. Truist Financial reduced their target price on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating on the stock in a report on Monday, October 21st. UBS Group began coverage on shares of Bank OZK in a research report on Tuesday, December 17th. They set a “neutral” rating and a $51.00 target price on the stock. Raymond James lowered Bank OZK from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. Finally, Stephens upped their price objective on Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st.

Bank OZK Stock Up 0.7 %

OZK opened at $44.70 on Monday. The company has a market capitalization of $5.07 billion, a PE ratio of 7.35 and a beta of 1.18. The firm has a 50-day simple moving average of $46.61 and a two-hundred day simple moving average of $43.60. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12. Bank OZK has a 52 week low of $37.43 and a 52 week high of $51.50.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings results on Thursday, October 17th. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.02. The business had revenue of $423.00 million during the quarter, compared to analysts’ expectations of $419.08 million. Bank OZK had a return on equity of 14.15% and a net margin of 26.07%. Analysts forecast that Bank OZK will post 6.03 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 11th were paid a $0.41 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.64 annualized dividend and a yield of 3.67%. This is an increase from Bank OZK’s previous quarterly dividend of $0.40. Bank OZK’s dividend payout ratio (DPR) is presently 26.97%.

Hedge Funds Weigh In On Bank OZK

Large investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Bank OZK by 8.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,734 shares of the company’s stock valued at $1,014,000 after buying an additional 1,830 shares in the last quarter. Panagora Asset Management Inc. purchased a new position in shares of Bank OZK during the second quarter worth approximately $262,000. F M Investments LLC bought a new stake in shares of Bank OZK during the second quarter valued at approximately $8,165,000. Innealta Capital LLC purchased a new stake in shares of Bank OZK in the second quarter valued at approximately $46,000. Finally, Van ECK Associates Corp grew its stake in Bank OZK by 13.6% in the second quarter. Van ECK Associates Corp now owns 44,841 shares of the company’s stock worth $1,838,000 after purchasing an additional 5,381 shares in the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.

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.