Bank OZK (NASDAQ:OZK) Price Target Raised to $47.00

Bank OZK (NASDAQ:OZK) had its target price raised by Keefe, Bruyette & Woods from $45.00 to $47.00 in a research note published on Monday morning, Benzinga reports. The brokerage currently has a market perform rating on the stock.

A number of other brokerages have also recently issued reports on OZK. Citigroup lowered their target price on Bank OZK from $62.00 to $57.00 and set a buy rating for the company in a report on Wednesday, March 13th. Raymond James raised shares of Bank OZK from a market perform rating to an outperform rating and set a $58.00 price target for the company in a research note on Friday, January 5th. Truist Financial lowered their price target on shares of Bank OZK from $48.00 to $47.00 and set a hold rating for the company in a report on Monday. UBS Group downgraded Bank OZK from a buy rating to a neutral rating in a report on Monday, January 8th. Finally, StockNews.com downgraded shares of Bank OZK from a hold rating to a sell rating in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Bank OZK currently has a consensus rating of Hold and an average price target of $49.14.

Bank OZK Trading Up 0.6 %

OZK opened at $46.37 on Monday. Bank OZK has a fifty-two week low of $30.72 and a fifty-two week high of $52.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.01 and a quick ratio of 1.03. The company has a market cap of $5.25 billion, a price-to-earnings ratio of 7.77 and a beta of 1.27. The firm has a 50 day simple moving average of $43.63 and a 200 day simple moving average of $43.47.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings data on Thursday, April 18th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.07. The business had revenue of $406.02 million for the quarter, compared to analyst estimates of $396.81 million. Bank OZK had a net margin of 28.54% and a return on equity of 14.84%. During the same quarter in the previous year, the firm posted $1.41 earnings per share. On average, sell-side analysts anticipate that Bank OZK will post 5.91 earnings per share for the current year.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 12th were issued a $0.39 dividend. This is an increase from Bank OZK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $1.56 dividend on an annualized basis and a yield of 3.36%. Bank OZK’s dividend payout ratio is presently 26.13%.

Institutional Trading of Bank OZK

Several hedge funds have recently made changes to their positions in OZK. Sowell Financial Services LLC increased its position in Bank OZK by 2.3% during the fourth quarter. Sowell Financial Services LLC now owns 10,573 shares of the company’s stock worth $527,000 after buying an additional 236 shares during the period. Los Angeles Capital Management LLC lifted its holdings in Bank OZK by 2.2% in the 4th quarter. Los Angeles Capital Management LLC now owns 11,374 shares of the company’s stock valued at $567,000 after purchasing an additional 246 shares in the last quarter. Beacon Pointe Advisors LLC grew its stake in shares of Bank OZK by 4.1% during the 4th quarter. Beacon Pointe Advisors LLC now owns 6,247 shares of the company’s stock valued at $311,000 after buying an additional 247 shares during the period. Cardinal Capital Management increased its position in Bank OZK by 1.0% during the 4th quarter. Cardinal Capital Management now owns 30,704 shares of the company’s stock worth $1,530,000 after purchasing an additional 292 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Bank OZK by 25.5% in the third quarter. Fifth Third Bancorp now owns 1,487 shares of the company’s stock worth $55,000 after acquiring an additional 302 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.