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

Bank OZK (NASDAQ:OZK) has received a consensus recommendation of “Reduce” from the nine brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $49.33.

A number of research analysts have recently issued reports on OZK shares. Truist Financial lowered their price target on Bank OZK from $48.00 to $46.00 and set a “hold” rating on the stock in a report on Monday, October 21st. Piper Sandler upped their target price on shares of Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Wells Fargo & Company lifted their price target on shares of Bank OZK from $35.00 to $40.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 3rd. UBS Group assumed coverage on shares of Bank OZK in a report on Tuesday, December 17th. They set a “neutral” rating and a $51.00 price objective for the company. Finally, Raymond James cut shares of Bank OZK from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 17th.

Hedge Funds Weigh In On Bank OZK

Several institutional investors and hedge funds have recently bought and sold shares of OZK. M&T Bank Corp lifted its stake in shares of Bank OZK by 1.9% during the 3rd quarter. M&T Bank Corp now owns 13,432 shares of the company’s stock valued at $578,000 after buying an additional 244 shares in the last quarter. Evergreen Capital Management LLC lifted its position in shares of Bank OZK by 8.3% in the second quarter. Evergreen Capital Management LLC now owns 5,079 shares of the company’s stock valued at $208,000 after acquiring an additional 388 shares in the last quarter. Raymond James Trust N.A. boosted its stake in shares of Bank OZK by 6.0% in the third quarter. Raymond James Trust N.A. now owns 7,184 shares of the company’s stock worth $309,000 after acquiring an additional 407 shares during the period. Assetmark Inc. grew its position in shares of Bank OZK by 73.8% during the third quarter. Assetmark Inc. now owns 968 shares of the company’s stock worth $42,000 after purchasing an additional 411 shares in the last quarter. Finally, Caprock Group LLC raised its stake in Bank OZK by 10.5% during the 3rd quarter. Caprock Group LLC now owns 6,805 shares of the company’s stock valued at $293,000 after purchasing an additional 645 shares during the period. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

Bank OZK Price Performance

Shares of NASDAQ: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 business has a fifty day moving average price of $46.61 and a 200-day moving average price of $43.60. Bank OZK has a 1-year low of $37.43 and a 1-year high of $51.50. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02.

Bank OZK (NASDAQ:OZK) last announced 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. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. The company had revenue of $423.00 million during the quarter, compared to the consensus estimate of $419.08 million. As a group, equities analysts expect that Bank OZK will post 6.03 EPS for the current fiscal year.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 11th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.67%. This is a positive change from Bank OZK’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, October 11th. Bank OZK’s dividend payout ratio is 26.97%.

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.