Bank OZK’s (OZK) Equal Weight Rating Reiterated at Stephens

Stephens reaffirmed their equal weight rating on shares of Bank OZK (NASDAQ:OZK) in a report issued on Friday morning,Benzinga reports. The brokerage currently has a $53.00 target price on the stock.

Several other research analysts have also commented on OZK. UBS Group assumed coverage on shares of Bank OZK in a research note on Tuesday, December 17th. They set a “neutral” rating and a $51.00 price objective for the company. Wells Fargo & Company upped their price target on Bank OZK from $35.00 to $40.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 3rd. Piper Sandler raised their price objective on Bank OZK from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, Truist Financial reduced their target price 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. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $48.50.

Bank OZK Stock Performance

Shares of NASDAQ:OZK opened at $49.74 on Friday. The firm has a 50 day moving average of $46.42 and a 200 day moving average of $44.24. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $5.64 billion, a price-to-earnings ratio of 8.18 and a beta of 1.20. Bank OZK has a 52 week low of $37.43 and a 52 week high of $51.50.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings results on Thursday, January 16th. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.12. The business had revenue of $412.34 million for the quarter, compared to the consensus estimate of $407.19 million. Bank OZK had a return on equity of 14.15% and a net margin of 26.07%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $1.50 EPS. On average, sell-side analysts predict that Bank OZK will post 6.03 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 14th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.38%. The ex-dividend date is Tuesday, January 14th. This is an increase from Bank OZK’s previous quarterly dividend of $0.41. Bank OZK’s payout ratio is presently 26.97%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OZK. State Street Corp lifted its position in Bank OZK by 7.3% during the third quarter. State Street Corp now owns 7,106,907 shares of the company’s stock valued at $305,526,000 after purchasing an additional 485,172 shares during the period. Wellington Management Group LLP raised its stake in shares of Bank OZK by 32.7% during the 3rd quarter. Wellington Management Group LLP now owns 4,223,452 shares of the company’s stock valued at $181,566,000 after buying an additional 1,041,198 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Bank OZK by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,941,431 shares of the company’s stock valued at $169,442,000 after buying an additional 112,648 shares during the period. AQR Capital Management LLC boosted its stake in shares of Bank OZK by 291.5% in the second quarter. AQR Capital Management LLC now owns 2,371,892 shares of the company’s stock worth $95,848,000 after buying an additional 1,765,974 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Bank OZK by 6.7% during the third quarter. Geode Capital Management LLC now owns 2,022,979 shares of the company’s stock worth $86,989,000 after acquiring an additional 126,352 shares during the period. 86.18% of the stock is currently 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.