Bank OZK (NASDAQ:OZK) Price Target Raised to $57.00

Bank OZK (NASDAQ:OZK) had its price target boosted by Morgan Stanley from $56.00 to $57.00 in a research report sent to investors on Monday, MarketBeat Ratings reports. They currently have an underweight rating on the stock.

Several other equities research analysts have also recently weighed in on the stock. Piper Sandler restated an “overweight” rating and issued a $61.00 price target on shares of Bank OZK in a research report on Wednesday, July 22nd. UBS Group increased their price objective on shares of Bank OZK from $50.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. TD Cowen dropped their price objective on shares of Bank OZK from $53.00 to $52.00 and set a “hold” rating for the company in a research note on Friday, July 24th. Zacks Research downgraded shares of Bank OZK from a “hold” rating to a “strong sell” rating in a report on Thursday, August 13th. Finally, Wall Street Zen upgraded shares of Bank OZK from a “sell” rating to a “hold” rating in a research report on Sunday. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $54.86.

Bank OZK Stock Performance

NASDAQ OZK opened at $45.96 on Monday. The stock has a market capitalization of $5.14 billion, a PE ratio of 7.60 and a beta of 0.88. The business has a 50 day simple moving average of $49.61 and a two-hundred day simple moving average of $48.86. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.97 and a quick ratio of 0.97. Bank OZK has a 1-year low of $42.37 and a 1-year high of $53.39.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.01. The business had revenue of $430.02 million for 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 company’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.47 EPS. On average, research analysts predict that Bank OZK will post 5.82 EPS for the current fiscal year.

Bank OZK declared that its board has authorized a stock buyback plan on Monday, June 29th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Bank OZK

A number of institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its position in Bank OZK by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 6,625,660 shares of the company’s stock valued at $304,045,000 after acquiring an additional 38,592 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Bank OZK by 4.6% in the 1st quarter. First Trust Advisors LP now owns 3,036,101 shares of the company’s stock worth $139,327,000 after acquiring an additional 134,490 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Bank OZK by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 2,146,728 shares of the company’s stock worth $98,812,000 after acquiring an additional 29,024 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Bank OZK during the 2nd quarter worth about $63,410,000. Finally, Norges Bank purchased a new position in shares of Bank OZK during the 4th quarter worth about $59,809,000. 86.18% of the stock is currently owned by institutional investors.

About Bank OZK

Bank OZK (NASDAQ:OZK) is a regional financial institution headquartered in Little Rock, Arkansas. The bank provides banking and financial services to individuals, businesses and institutions through a network of branches and digital banking channels.

Its products and services include checking and savings accounts, certificates of deposit, consumer and commercial loans, residential mortgages, treasury management, online and mobile banking, and wealth management. Bank OZK also provides specialized lending through its Real Estate Specialties Group, which focuses on commercial real estate financing for projects in markets across the United States.

The company traces its origins to 1903, when it was founded as a community bank in Jasper, Arkansas.