Bank OZK (NASDAQ:OZK) Receives Equal Weight Rating from Stephens

Stephens reaffirmed their equal weight rating on shares of Bank OZK (NASDAQ:OZK) in a research note released on Thursday morning, Benzinga reports. They currently have a $50.00 price objective on the stock.

OZK has been the topic of several other reports. Morgan Stanley reiterated an equal weight rating and issued a $48.00 price target on shares of Bank OZK in a research report on Monday, April 22nd. Keefe, Bruyette & Woods raised their price target on Bank OZK from $45.00 to $47.00 and gave the stock a market perform rating in a research report on Monday, April 22nd. Citigroup cut Bank OZK from a buy rating to a sell rating and cut their price target for the stock from $57.00 to $37.00 in a report on Wednesday, May 29th. Truist Financial decreased their price objective on Bank OZK from $47.00 to $41.00 and set a hold rating on the stock in a research note on Monday, July 8th. Finally, Wells Fargo & Company reduced their target price on shares of Bank OZK from $39.00 to $35.00 and set an underweight rating on the stock in a report on Thursday, June 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $45.14.

Bank OZK Stock Performance

Shares of OZK stock opened at $45.33 on Thursday. The stock has a fifty day moving average price of $42.32 and a 200 day moving average price of $43.94. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.01 and a current ratio of 1.02. The stock has a market cap of $5.14 billion, a PE ratio of 7.59 and a beta of 1.20. Bank OZK has a 1 year low of $34.76 and a 1 year high of $52.36.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $1.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.52. Bank OZK had a return on equity of 14.50% and a net margin of 27.04%. The business had revenue of $416.78 million during the quarter, compared to analysts’ expectations of $414.39 million. During the same quarter last year, the business posted $1.47 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Sell-side analysts forecast that Bank OZK will post 6.07 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 12th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.53%. This is a positive change from Bank OZK’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, July 12th. Bank OZK’s dividend payout ratio (DPR) is presently 26.80%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OZK. Vanguard Group Inc. raised its holdings in Bank OZK by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 12,028,779 shares of the company’s stock valued at $599,394,000 after buying an additional 502,005 shares during the period. Wellington Management Group LLP grew its stake in Bank OZK by 18.8% during the 4th quarter. Wellington Management Group LLP now owns 1,897,696 shares of the company’s stock valued at $94,562,000 after purchasing an additional 300,025 shares in the last quarter. First Trust Advisors LP increased its holdings in Bank OZK by 4.2% during the 4th quarter. First Trust Advisors LP now owns 1,279,876 shares of the company’s stock worth $63,776,000 after purchasing an additional 51,379 shares during the last quarter. Norges Bank acquired a new position in shares of Bank OZK in the 4th quarter valued at approximately $56,293,000. Finally, Captrust Financial Advisors boosted its stake in shares of Bank OZK by 4.8% during the 1st quarter. Captrust Financial Advisors now owns 721,011 shares of the company’s stock valued at $32,777,000 after buying an additional 32,813 shares during the last quarter. Institutional investors and hedge funds own 86.18% of the company’s stock.

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.