Morgan Stanley Cuts Bank OZK (NASDAQ:OZK) Price Target to $54.00

Bank OZK (NASDAQ:OZK) had its price target reduced by Morgan Stanley from $58.00 to $54.00 in a research note published on Thursday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other equities analysts have also issued reports on the stock. Stephens lifted their price target on shares of Bank OZK from $53.00 to $57.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. UBS Group initiated coverage on shares of Bank OZK in a report on Tuesday, December 17th. They set a “neutral” rating and a $51.00 price objective on the stock. Finally, Wells Fargo & Company raised shares of Bank OZK from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $40.00 to $48.00 in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $50.38.

Bank OZK Stock Performance

Shares of OZK stock opened at $44.19 on Thursday. The company’s 50 day moving average is $48.11 and its 200 day moving average is $45.90. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.16. Bank OZK has a 52-week low of $37.43 and a 52-week high of $53.64. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 7.20 and a beta of 1.23.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings results on Thursday, January 16th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.12. Bank OZK had a net margin of 25.83% and a return on equity of 13.90%. The business had revenue of $412.34 million for the quarter, compared to analyst estimates of $407.19 million. During the same period in the previous year, the company earned $1.50 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, sell-side analysts anticipate that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 14th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.80%. This is a positive change from Bank OZK’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Tuesday, January 14th. Bank OZK’s dividend payout ratio is presently 27.36%.

Institutional Investors Weigh In On Bank OZK

Hedge funds have recently added to or reduced their stakes in the business. Kestra Investment Management LLC acquired a new position in shares of Bank OZK in the fourth quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Bank OZK in the fourth quarter worth about $27,000. Smartleaf Asset Management LLC raised its position in shares of Bank OZK by 176.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 761 shares of the company’s stock worth $34,000 after acquiring an additional 486 shares during the period. V Square Quantitative Management LLC raised its position in shares of Bank OZK by 81.3% in the fourth quarter. V Square Quantitative Management LLC now owns 948 shares of the company’s stock worth $42,000 after acquiring an additional 425 shares during the period. Finally, Assetmark Inc. raised its position in shares of Bank OZK by 73.8% in the third quarter. Assetmark Inc. now owns 968 shares of the company’s stock worth $42,000 after acquiring an additional 411 shares during the period. 86.18% of the stock is owned by hedge funds and other institutional investors.

Bank OZK Company Profile

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.