Bank OZK (NASDAQ:OZK) Given New $57.00 Price Target at Stephens

Bank OZK (NASDAQ:OZK) had its price objective upped by Stephens from $53.00 to $57.00 in a research report released on Tuesday morning,Benzinga reports. Stephens currently has an equal weight rating on the stock.

OZK has been the subject of a number of other research reports. UBS Group began coverage on shares of Bank OZK in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 price objective for the company. Wells Fargo & Company upgraded Bank OZK from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $40.00 to $48.00 in a report on Tuesday. Truist Financial reduced their price objective on Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company in a research note on Monday, October 21st. Finally, 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. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $50.00.

Bank OZK Trading Up 1.6 %

Shares of NASDAQ OZK opened at $50.54 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.16. Bank OZK has a 12 month low of $37.43 and a 12 month high of $51.50. The company has a market cap of $5.73 billion, a price-to-earnings ratio of 8.23 and a beta of 1.20. The business has a fifty day simple moving average of $46.44 and a 200-day simple moving average of $44.31.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings data on Thursday, January 16th. The company reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.12. Bank OZK had a net margin of 25.83% and a return on equity of 13.90%. The company had revenue of $412.34 million during the quarter, compared to analyst estimates of $407.19 million. During the same period in the prior year, the firm earned $1.50 earnings per share. The business’s quarterly revenue was up 1.2% on a year-over-year basis. Sell-side analysts predict that Bank OZK will post 5.96 EPS for the current year.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Tuesday, January 14th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.32%. The ex-dividend date was Tuesday, January 14th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.41. Bank OZK’s dividend payout ratio (DPR) is presently 27.36%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC boosted its holdings in Bank OZK by 28.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,284 shares of the company’s stock worth $545,000 after purchasing an additional 2,968 shares in the last quarter. XTX Topco Ltd lifted its position in shares of Bank OZK by 144.5% in the second quarter. XTX Topco Ltd now owns 13,198 shares of the company’s stock worth $541,000 after buying an additional 7,800 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Bank OZK during the 2nd quarter worth about $963,000. Sei Investments Co. increased its holdings in shares of Bank OZK by 19.9% during the 2nd quarter. Sei Investments Co. now owns 366,075 shares of the company’s stock valued at $15,010,000 after acquiring an additional 60,854 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Bank OZK by 177.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 197,068 shares of the company’s stock valued at $8,080,000 after acquiring an additional 125,938 shares in the last quarter. 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.