Brokerages Set Bank OZK (NASDAQ:OZK) Target Price at $56.88

Shares of Bank OZK (NASDAQ:OZK) have received a consensus recommendation of “Hold” from the ten analysts that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $56.8750.

A number of brokerages have issued reports on OZK. Piper Sandler reaffirmed an “overweight” rating and issued a $61.00 target price on shares of Bank OZK in a research report on Wednesday, July 22nd. TD Cowen decreased their price target on shares of Bank OZK from $53.00 to $52.00 and set a “hold” rating for the company in a research report on Friday, July 24th. 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. UBS Group lifted their price target on shares of Bank OZK from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th. Finally, Wall Street Zen raised shares of Bank OZK from a “sell” rating to a “hold” rating in a report on Saturday, August 8th.

Hedge Funds Weigh In On Bank OZK

Several large investors have recently modified their holdings of the stock. BOKF NA bought a new stake in Bank OZK in the third quarter valued at about $27,000. Bayforest Capital Ltd raised its stake in Bank OZK by 100.5% during the fourth quarter. Bayforest Capital Ltd now owns 766 shares of the company’s stock valued at $35,000 after buying an additional 384 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new position in Bank OZK during the 4th quarter worth approximately $36,000. Transamerica Financial Advisors LLC lifted its holdings in Bank OZK by 111.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 830 shares of the company’s stock worth $38,000 after buying an additional 437 shares during the last quarter. Finally, Employees Retirement System of Texas acquired a new position in shares of Bank OZK in the 3rd quarter worth approximately $51,000. Institutional investors own 86.18% of the company’s stock.

Bank OZK Stock Up 0.3%

Shares of NASDAQ OZK opened at $49.42 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.00 and a current ratio of 0.97. Bank OZK has a 1 year low of $42.37 and a 1 year high of $53.66. The stock’s 50-day simple moving average is $50.93 and its 200-day simple moving average is $48.81. The firm has a market cap of $5.53 billion, a price-to-earnings ratio of 8.17 and a beta of 0.89.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. Bank OZK had a return on equity of 11.87% and a net margin of 24.95%.The firm had revenue of $430.02 million during the quarter, compared to the consensus estimate of $436.42 million. During the same quarter in the prior year, the business posted $1.47 earnings per share. Bank OZK’s revenue for the quarter was up .5% on a year-over-year basis. As a group, equities analysts anticipate that Bank OZK will post 5.85 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Monday, July 13th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, July 13th. This is an increase from Bank OZK’s previous quarterly dividend of $0.47. Bank OZK’s payout ratio is presently 31.74%.

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

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.