Bank OZK (NASDAQ:OZK) Price Target Raised to $51.00 at Morgan Stanley

Bank OZK (NASDAQ:OZK) had its price target increased by Morgan Stanley from $48.00 to $51.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research firms have also issued reports on OZK. StockNews.com raised shares of Bank OZK from a sell rating to a hold rating in a research note on Thursday, July 18th. Citigroup downgraded Bank OZK from a buy rating to a sell rating and reduced their price objective for the stock from $57.00 to $37.00 in a research report on Wednesday, May 29th. Keefe, Bruyette & Woods increased their price objective on Bank OZK from $45.00 to $47.00 and gave the stock a market perform rating in a report on Monday, April 22nd. Wells Fargo & Company cut their target price on Bank OZK from $39.00 to $35.00 and set an underweight rating on the stock in a research note on Thursday, June 6th. Finally, Truist Financial boosted their price target on Bank OZK from $41.00 to $49.00 and gave the stock a hold rating in a research report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $46.71.

Bank OZK Trading Up 1.6 %

Shares of NASDAQ OZK opened at $41.33 on Monday. Bank OZK has a 12-month low of $34.76 and a 12-month high of $52.36. The company has a market cap of $4.69 billion, a price-to-earnings ratio of 6.92 and a beta of 1.20. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.17. The stock’s 50 day simple moving average is $41.70 and its 200 day simple moving average is $43.67.

Bank OZK (NASDAQ:OZK) last issued its earnings results on Wednesday, July 17th. The company reported $1.52 earnings per share for the quarter, hitting the consensus estimate of $1.52. Bank OZK had a return on equity of 14.50% and a net margin of 27.04%. The firm had revenue of $416.78 million for the quarter, compared to analyst estimates of $414.39 million. During the same period last year, the company earned $1.47 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts expect that Bank OZK will post 6.05 EPS for the current year.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 12th were paid a dividend of $0.40 per share. This is a positive change from Bank OZK’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend was Friday, July 12th. Bank OZK’s dividend payout ratio (DPR) is presently 26.80%.

Institutional Trading of Bank OZK

A number of hedge funds and other institutional investors have recently modified their holdings of OZK. Goldman Sachs Group Inc. raised its position in Bank OZK by 136.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 359,814 shares of the company’s stock worth $17,930,000 after acquiring an additional 207,341 shares in the last quarter. Pinebridge Investments L.P. lifted its stake in Bank OZK by 77.3% during the fourth quarter. Pinebridge Investments L.P. now owns 188,600 shares of the company’s stock valued at $9,397,000 after purchasing an additional 82,233 shares during the last quarter. M&G Plc bought a new stake in Bank OZK during the first quarter worth approximately $8,437,000. State Board of Administration of Florida Retirement System grew its position in Bank OZK by 27.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 140,492 shares of the company’s stock worth $6,387,000 after buying an additional 29,993 shares during the last quarter. Finally, Natixis bought a new position in shares of Bank OZK in the first quarter valued at $868,000. Institutional investors 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.