Wells Fargo & Company Cuts Bank OZK (NASDAQ:OZK) Price Target to $40.00

Bank OZK (NASDAQ:OZK) had its price objective cut by equities researchers at Wells Fargo & Company from $48.00 to $40.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 6.30% from the company’s previous close.

Several other research analysts have also issued reports on OZK. Morgan Stanley dropped their price target on shares of Bank OZK from $58.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Stephens raised their target price on Bank OZK from $53.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Finally, UBS Group assumed coverage on Bank OZK in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $49.38.

Bank OZK Price Performance

Shares of OZK stock opened at $37.63 on Wednesday. Bank OZK has a 12 month low of $35.71 and a 12 month high of $53.64. The company has a market capitalization of $4.27 billion, a P/E ratio of 6.13 and a beta of 1.05. The stock has a 50 day moving average of $45.84 and a two-hundred day moving average of $45.92. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.16.

Bank OZK (NASDAQ:OZK) last issued its earnings results on Thursday, January 16th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.44 by $0.12. The firm had revenue of $412.34 million during the quarter, compared to analysts’ expectations of $407.19 million. Bank OZK had a return on equity of 13.90% and a net margin of 25.83%. Bank OZK’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business earned $1.50 earnings per share. As a group, equities analysts expect that Bank OZK will post 6.02 EPS for the current year.

Institutional Investors Weigh In On Bank OZK

A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in shares of Bank OZK by 7.3% in the 3rd quarter. State Street Corp now owns 7,106,907 shares of the company’s stock valued at $305,526,000 after buying an additional 485,172 shares during the period. Wasatch Advisors LP boosted its holdings in Bank OZK by 19.3% in the fourth quarter. Wasatch Advisors LP now owns 7,102,657 shares of the company’s stock valued at $316,281,000 after acquiring an additional 1,149,880 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Bank OZK by 4.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,130,006 shares of the company’s stock worth $183,909,000 after purchasing an additional 188,575 shares during the period. First Trust Advisors LP raised its holdings in Bank OZK by 30.4% during the 4th quarter. First Trust Advisors LP now owns 2,945,480 shares of the company’s stock worth $131,162,000 after purchasing an additional 686,775 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in Bank OZK by 12.6% during the 4th quarter. AQR Capital Management LLC now owns 2,811,354 shares of the company’s stock valued at $125,190,000 after purchasing an additional 314,488 shares during the period. 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.