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

Bank OZK (NASDAQ:OZK) had its price objective raised by equities researchers at Wells Fargo & Company from $35.00 to $40.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential downside of 16.65% from the company’s previous close.

Several other equities analysts also recently commented on OZK. Piper Sandler upped their price target 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. Morgan Stanley increased their target price on shares of Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Raymond James downgraded shares of Bank OZK from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. Truist Financial reduced their price target on Bank OZK from $48.00 to $46.00 and set a “hold” rating on the stock in a research report on Monday, October 21st. Finally, Stephens lifted their price objective on Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $49.13.

Bank OZK Price Performance

Shares of NASDAQ OZK opened at $47.99 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. The business has a 50-day moving average of $45.60 and a 200-day moving average of $43.32. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of 7.89 and a beta of 1.18. Bank OZK has a fifty-two week low of $37.43 and a fifty-two week high of $52.36.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings results on Thursday, October 17th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.02. Bank OZK had a return on equity of 14.15% and a net margin of 26.07%. The business had revenue of $423.00 million during the quarter, compared to the consensus estimate of $419.08 million. As a group, sell-side analysts predict that Bank OZK will post 6.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bank OZK

Institutional investors and hedge funds have recently bought and sold shares of the company. PSI Advisors LLC boosted its stake in shares of Bank OZK by 20,933.3% in the 2nd quarter. PSI Advisors LLC now owns 631 shares of the company’s stock valued at $26,000 after purchasing an additional 628 shares during the last quarter. Assetmark Inc. boosted its position in Bank OZK by 73.8% during the third quarter. Assetmark Inc. now owns 968 shares of the company’s stock valued at $42,000 after acquiring an additional 411 shares during the last quarter. American National Bank & Trust bought a new stake in Bank OZK during the third quarter valued at $44,000. Innealta Capital LLC acquired a new stake in Bank OZK during the 2nd quarter worth about $46,000. Finally, Abich Financial Wealth Management LLC bought a new position in shares of Bank OZK in the 2nd quarter worth about $49,000. Institutional investors and hedge funds 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.