Bank OZK (NASDAQ:OZK) Given New $52.00 Price Target at Wells Fargo & Company

Bank OZK (NASDAQ:OZK) had its price target raised by research analysts at Wells Fargo & Company from $50.00 to $52.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 4.33% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Weiss Ratings upgraded shares of Bank OZK from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. Wall Street Zen upgraded shares of Bank OZK from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Morgan Stanley lifted their target price on shares of Bank OZK from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. UBS Group started coverage on shares of Bank OZK in a research note on Tuesday, April 7th. They issued a “neutral” rating and a $48.00 target price on the stock. Finally, TD Cowen lowered shares of Bank OZK from a “buy” rating to a “hold” rating in a research report on Monday. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Bank OZK currently has an average rating of “Hold” and an average price target of $56.56.

Bank OZK Price Performance

Shares of Bank OZK stock opened at $49.84 on Monday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.14. The firm has a fifty day simple moving average of $49.14 and a 200-day simple moving average of $47.92. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 8.12 and a beta of 0.89. Bank OZK has a 1-year low of $42.37 and a 1-year high of $53.66.

Bank OZK (NASDAQ:OZK) last announced its earnings results on Tuesday, April 21st. The company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.02). The business had revenue of $424.32 million for the quarter, compared to the consensus estimate of $422.62 million. Bank OZK had a net margin of 25.27% and a return on equity of 12.32%. Bank OZK’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.47 EPS. On average, sell-side analysts expect that Bank OZK will post 6.02 earnings per share for the current year.

Bank OZK announced that its Board of Directors has approved a share buyback program on Monday, June 29th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OZK. Dynamic Technology Lab Private Ltd acquired a new position in shares of Bank OZK in the 3rd quarter valued at $1,301,000. Ruffer LLP acquired a new stake in Bank OZK during the 4th quarter worth $3,137,000. Oliver Luxxe Assets LLC bought a new position in Bank OZK during the fourth quarter worth about $2,263,000. UBS Group AG lifted its holdings in Bank OZK by 13.4% during the fourth quarter. UBS Group AG now owns 531,843 shares of the company’s stock worth $24,475,000 after acquiring an additional 63,051 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Bank OZK by 21.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 284,258 shares of the company’s stock valued at $13,371,000 after acquiring an additional 50,258 shares during the period. 86.18% of the stock is currently owned by institutional investors.

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.