Stephens raises Bank OZK (NASDAQ:OZK) price target to $45.00

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OZK Bank (NASDAQ:OZK – Get a Rating) had its price target raised by Stephens to $45.00 in a report on Tuesday, Stock Target Advisor reports.

Several other brokerages have also weighed in on OZK recently. Raymond James downgraded Bank OZK from an Outperform rating to a Market Performance rating in a Thursday, July 7 research note. Piper Sandler reduced her target price on Bank OZK to $54.00 in a Friday July 22 research note. StockNews.com launched coverage on Bank OZK in a research note on Thursday, March 31. They set a holding rating for the company. Citigroup reduced its target price on Bank OZK from $50.00 to $45.00 in a Wednesday, April 27 research note. Finally, Wells Fargo & Company downgraded Bank OZK from an overweight rating to an equal weight rating and reduced its target price for the stock from $58.00 to $42.00 in a Thursday 7 research note. July. Five investment analysts gave the stock a hold rating and one gave the stock a buy rating. According to MarketBeat.com, Bank OZK has an average Hold rating and a consensus price target of $48.00.

OZK Bank is trading down 1.6%

Shares of NASDAQ:OZK opened at $38.58 on Tuesday. OZK Bank has a 12-month low of $34.79 and a 12-month high of $51.39. The company has a market capitalization of $4.84 billion, a PE ratio of 8.99 and a beta of 1.49. The company has a 50-day moving average of $38.41 and a two-hundred-day moving average of $42.19. The company has a current ratio of 0.98, a quick ratio of 0.99 and a debt ratio of 0.23.

Bank OZK (NASDAQ:OZK – Get Rating) last announced its quarterly results on Thursday, July 21. The company reported earnings per share (EPS) of $1.10 for the quarter, beating consensus analyst estimates of $1.03 by $0.07. OZK Bank achieved a return on equity of 12.42% and a net margin of 45.73%. In the same period a year earlier, the company earned earnings per share of $1.16. As a group, analysts expect Bank OZK to post EPS of 4.23 for the current year.

OZK Bank increases its dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 22. Investors of record on Friday, July 15 received a dividend of $0.32 per share. This represents an annualized dividend of $1.28 and a dividend yield of 3.32%. This is a boost from Bank OZK’s previous quarterly dividend of $0.31. The ex-dividend date was Thursday, July 14. OZK Bank’s payout ratio is currently 29.84%.

OZK Bank Institutional Trading

Several large investors have recently changed their positions in OZK. Van ECK Associates Corp increased its stake in Bank OZK by 9.9% in the fourth quarter. Van ECK Associates Corp now owns 2,492 shares of the company valued at $116,000 after buying an additional 224 shares last quarter. Shell Asset Management Co. increased its holdings in Bank OZK by 6.0% in the fourth quarter. Shell Asset Management Co. now owns 4,763 shares of the company valued at $222,000 after buying 268 more shares last quarter. Janney Montgomery Scott LLC increased its stake in Bank OZK by 4.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 6,863 shares of the company valued at $319,000 after buying 306 additional shares last quarter. Dubuque Bank & Trust Co. increased its holdings in Bank OZK by 4.9% in the second quarter. Dubuque Bank & Trust Co. now owns 6,670 shares of the company valued at $250,000 after buying 311 additional shares last quarter. Finally, Covestor Ltd increased its stake in Bank OZK by 56.6% in the 1st quarter. Covestor Ltd now owns 896 shares of the company valued at $38,000 after buying 324 more shares last quarter. 80.35% of the shares are currently held by hedge funds and other institutional investors.

Bank OZK company profile

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Bank OZK provides various retail and commercial banking services. It accepts various deposit products, including non-interest bearing checks, interest bearing transactions, commercial sweep, savings, money market, individual retirement and other accounts, as well as term deposits. The company also offers home, consumer and business, indirect RV and marine, commercial and industrial, government guaranteed, agricultural, small business, builder and affordable housing loans; business aviation and subscription financing services; and mortgages and other lending products.

See also

Analyst Recommendations for Bank OZK (NASDAQ:OZK)



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