TD Cowen Has Lowered Expectations for Bank OZK (NASDAQ:OZK) Stock Price

Bank OZK (NASDAQ:OZK) had its price target decreased by equities researchers at TD Cowen from $53.00 to $52.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “hold” rating on the stock. TD Cowen’s price target points to a potential upside of 3.56% from the stock’s previous close.

OZK has been the topic of a number of other research reports. Wells Fargo & Company raised their target price on Bank OZK from $50.00 to $52.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Weiss Ratings raised Bank OZK from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. Wall Street Zen raised shares of Bank OZK from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Morgan Stanley boosted their price objective on shares of Bank OZK from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $61.00 target price on shares of Bank OZK in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Bank OZK presently has an average rating of “Hold” and a consensus target price of $56.00.

Bank OZK Trading Up 0.2%

Shares of OZK stock traded up $0.09 during trading hours on Friday, reaching $50.21. The company had a trading volume of 408,573 shares, compared to its average volume of 1,280,835. Bank OZK has a 1-year low of $42.37 and a 1-year high of $53.66. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.97 and a quick ratio of 1.00. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 8.30 and a beta of 0.89. The company has a 50 day moving average of $49.93 and a 200 day moving average of $48.27.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. The business had revenue of $430.02 million during the quarter, compared to analysts’ expectations of $436.42 million. Bank OZK had a return on equity of 11.87% and a net margin of 24.95%.The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.47 earnings per share. On average, equities research analysts anticipate that Bank OZK will post 5.98 EPS for the current year.

Bank OZK announced that its board has initiated a share repurchase program on Monday, June 29th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of OZK. Quadrant Capital Group LLC boosted its holdings in shares of Bank OZK by 4.2% in the fourth quarter. Quadrant Capital Group LLC now owns 5,446 shares of the company’s stock valued at $251,000 after buying an additional 218 shares during the period. Kera Capital Partners Inc. raised its holdings in shares of Bank OZK by 2.1% during the fourth quarter. Kera Capital Partners Inc. now owns 11,336 shares of the company’s stock worth $539,000 after acquiring an additional 236 shares during the period. Cardinal Capital Management lifted its position in Bank OZK by 0.6% in the 4th quarter. Cardinal Capital Management now owns 48,979 shares of the company’s stock valued at $2,254,000 after acquiring an additional 277 shares in the last quarter. Cornerstone Wealth Management LLC lifted its position in Bank OZK by 4.5% in the 4th quarter. Cornerstone Wealth Management LLC now owns 6,403 shares of the company’s stock valued at $295,000 after acquiring an additional 278 shares in the last quarter. Finally, Illinois Municipal Retirement Fund boosted its stake in Bank OZK by 0.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 38,261 shares of the company’s stock worth $1,761,000 after purchasing an additional 317 shares during the period. Institutional investors own 86.18% of the company’s stock.

About Bank OZK

Bank OZK, formerly known as Bank of the Ozarks, is a regional commercial bank headquartered in Little Rock, Arkansas. Established in 1903, the bank offers a full suite of banking products and services to both individual and corporate clients. Through a combination of organic growth and targeted acquisitions, Bank OZK has built a diversified lending portfolio and a strong deposit franchise.

The bank’s core operations focus on commercial real estate lending, including acquisition, development and construction financing.