Bank OZK (NASDAQ:OZK) PT Raised to $63.00

Bank OZK (NASDAQ:OZK) had its price objective lifted by research analysts at Piper Sandler from $58.00 to $63.00 in a report released on Friday, MarketBeat reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 41.03% from the stock’s current price.

A number of other research analysts have also recently commented on OZK. Stephens reiterated an “equal weight” rating and issued a $50.00 price objective on shares of Bank OZK in a report on Thursday, July 18th. Raymond James cut Bank OZK from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 17th. Morgan Stanley upped their price target on Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Truist Financial decreased their price target on Bank OZK from $49.00 to $48.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. Finally, StockNews.com upgraded Bank OZK from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $48.63.

Bank OZK Price Performance

NASDAQ:OZK opened at $44.67 on Friday. Bank OZK has a 12 month low of $34.76 and a 12 month high of $52.36. The stock has a 50 day moving average of $42.19 and a two-hundred day moving average of $43.02. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.17. The firm has a market cap of $5.07 billion, a P/E ratio of 7.42 and a beta of 1.17.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $1.52 EPS for the quarter, hitting the consensus estimate of $1.52. The company had revenue of $416.78 million during the quarter, compared to analyst estimates of $414.39 million. Bank OZK had a return on equity of 14.50% and a net margin of 27.04%. Bank OZK’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.47 EPS. On average, analysts expect that Bank OZK will post 6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bank OZK

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its holdings in Bank OZK by 136.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 359,814 shares of the company’s stock valued at $17,930,000 after acquiring an additional 207,341 shares during the last quarter. M&G Plc purchased a new stake in Bank OZK during the 1st quarter worth $8,437,000. State Board of Administration of Florida Retirement System boosted its position in Bank OZK by 27.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 140,492 shares of the company’s stock worth $6,387,000 after purchasing an additional 29,993 shares during the period. SG Americas Securities LLC purchased a new stake in Bank OZK during the 2nd quarter worth $873,000. Finally, BNP Paribas Financial Markets boosted its position in Bank OZK by 211.3% during the 1st quarter. BNP Paribas Financial Markets now owns 61,181 shares of the company’s stock worth $2,781,000 after purchasing an additional 41,527 shares during the period. 86.18% of the stock is currently owned by institutional investors and hedge funds.

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.