TD Cowen Issues Pessimistic Forecast for Bank OZK (NASDAQ:OZK) Stock Price

Bank OZK (NASDAQ:OZK) had its target price decreased by analysts at TD Cowen from $52.00 to $50.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s price target suggests a potential upside of 12.16% from the company’s current price.

A number of other research firms have also weighed in on OZK. Morgan Stanley upped their price target on shares of Bank OZK from $56.00 to $57.00 and gave the stock an “underweight” rating in a research report on Monday, September 28th. Piper Sandler restated an “overweight” rating and set a $61.00 price objective on shares of Bank OZK in a research report on Wednesday, July 22nd. UBS Group lifted their target price on shares of Bank OZK from $50.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. Wells Fargo & Company dropped their target price on shares of Bank OZK from $56.00 to $51.00 and set an “equal weight” rating for the company in a report on Tuesday, September 29th. Finally, Zacks Research raised Bank OZK from a “strong sell” rating to a “hold” rating in a report on Friday, September 25th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Bank OZK currently has a consensus rating of “Hold” and an average price target of $54.57.

Bank OZK Stock Down 4.3%

OZK stock opened at $44.58 on Monday. The business’s 50-day moving average price is $49.25 and its 200-day moving average price is $48.92. The stock has a market cap of $4.99 billion, a P/E ratio of 7.37 and a beta of 0.92. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.08. Bank OZK has a twelve month low of $42.37 and a twelve month high of $53.39.

Bank OZK (NASDAQ:OZK) last released its earnings results 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. Bank OZK had a net margin of 24.95% and a return on equity of 11.87%. The company had revenue of $430.02 million during the quarter, compared to analyst estimates of $436.42 million. During the same period in the prior year, the firm posted $1.47 EPS. The firm’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities research analysts forecast that Bank OZK will post 5.82 EPS for the current 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 shares. This buyback authorization authorizes the company to purchase up to 3.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OZK. Northwestern Mutual Wealth Management Co. grew its stake in shares of Bank OZK by 2.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,305 shares of the company’s stock valued at $537,000 after buying an additional 212 shares during the last quarter. Kera Capital Partners Inc. boosted its holdings in Bank OZK by 2.1% during the 4th quarter. Kera Capital Partners Inc. now owns 11,336 shares of the company’s stock valued at $539,000 after acquiring an additional 236 shares during the period. Concurrent Investment Advisors LLC grew its position in Bank OZK by 3.3% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 14,183 shares of the company’s stock valued at $739,000 after acquiring an additional 450 shares during the last quarter. Sigma Planning Corp increased its stake in Bank OZK by 6.6% in the second quarter. Sigma Planning Corp now owns 7,671 shares of the company’s stock worth $400,000 after purchasing an additional 472 shares during the period. Finally, Villanova Investment Management Co LLC increased its stake in Bank OZK by 0.4% in the fourth quarter. Villanova Investment Management Co LLC now owns 126,297 shares of the company’s stock worth $5,812,000 after purchasing an additional 517 shares during the period. Institutional investors own 86.18% of the company’s stock.

Bank OZK Company Profile

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.