Analysts Set Bank OZK (NASDAQ:OZK) PT at $47.38

Bank OZK (NASDAQ:OZK) has received a consensus rating of “Hold” from the eight research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $47.38.

Several analysts have recently commented on the stock. Citigroup decreased their price target on shares of Bank OZK from $62.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. StockNews.com cut shares of Bank OZK from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Truist Financial increased their price target on shares of Bank OZK from $38.00 to $55.00 and gave the company a “hold” rating in a research note on Friday, December 15th. Raymond James raised shares of Bank OZK from a “market perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a research note on Friday, January 5th. Finally, UBS Group lowered shares of Bank OZK from a “buy” rating to a “neutral” rating in a report on Monday, January 8th.

Bank OZK Price Performance

Shares of Bank OZK stock opened at $45.55 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of 7.76 and a beta of 1.26. Bank OZK has a 1-year low of $30.72 and a 1-year high of $52.36. The firm’s 50-day moving average price is $44.02 and its two-hundred day moving average price is $42.48.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings data on Friday, January 19th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.04. Bank OZK had a net margin of 30.69% and a return on equity of 15.13%. The firm had revenue of $407.58 million for the quarter, compared to analysts’ expectations of $396.54 million. During the same period in the prior year, the firm earned $1.34 earnings per share. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. On average, equities analysts predict that Bank OZK will post 5.93 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 23rd. Investors of record on Tuesday, January 16th were issued a $0.38 dividend. This is a positive change from Bank OZK’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a yield of 3.34%. The ex-dividend date was Friday, January 12th. Bank OZK’s dividend payout ratio is currently 25.89%.

Institutional Investors Weigh In On Bank OZK

Several hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its position in shares of Bank OZK by 1,508.4% during the second quarter. Goldman Sachs Group Inc. now owns 4,313,676 shares of the company’s stock worth $173,237,000 after purchasing an additional 4,045,472 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Bank OZK by 105.3% during the second quarter. Royal Bank of Canada now owns 75,615 shares of the company’s stock worth $3,037,000 after purchasing an additional 1,502,923 shares in the last quarter. State Street Corp boosted its position in shares of Bank OZK by 10.7% during the first quarter. State Street Corp now owns 12,791,703 shares of the company’s stock worth $437,476,000 after purchasing an additional 1,235,144 shares in the last quarter. Norges Bank bought a new position in shares of Bank OZK during the fourth quarter worth $46,878,000. Finally, Millennium Management LLC boosted its position in shares of Bank OZK by 204.2% during the fourth quarter. Millennium Management LLC now owns 1,409,391 shares of the company’s stock worth $56,460,000 after purchasing an additional 946,106 shares in the last quarter. 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.