Bank OZK (NASDAQ:OZK) Upgraded to Buy at UBS Group

UBS Group upgraded shares of Bank OZK (NASDAQ:OZK – Get Rating) from a neutral rating to a buy rating in a research note released on Wednesday, The Fly reports. UBS Group currently has $47.00 price target on the stock, down from their prior price target of $48.00.

Other analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods decreased their target price on Bank OZK from $45.00 to $40.00 and set a market perform rating for the company in a research report on Wednesday, January 4th. Truist Financial raised their target price on Bank OZK from $45.00 to $50.00 and gave the stock a hold rating in a research report on Monday, January 23rd. Finally, Morgan Stanley lifted their price objective on Bank OZK from $48.00 to $51.00 and gave the company an equal weight rating in a research report on Monday, January 23rd. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $47.44.

Bank OZK Stock Down 5.8 %

Shares of OZK stock opened at $35.64 on Wednesday. Bank OZK has a 1 year low of $31.89 and a 1 year high of $49.52. The stock has a market cap of $4.47 billion, a PE ratio of 7.85 and a beta of 1.42. The business’s fifty day moving average is $43.66 and its 200-day moving average is $42.71. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.00 and a current ratio of 1.00.

Bank OZK (NASDAQ:OZK – Get Rating) last issued its earnings results on Thursday, January 19th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The business had revenue of $360.03 million for the quarter, compared to analysts’ expectations of $338.35 million. Bank OZK had a return on equity of 13.13% and a net margin of 40.86%. Equities analysts expect that Bank OZK will post 5.89 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 24th. Shareholders of record on Tuesday, January 17th were given a $0.34 dividend. The ex-dividend date of this dividend was Friday, January 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.82%. This is a boost from Bank OZK’s previous quarterly dividend of $0.33. Bank OZK’s payout ratio is currently 29.96%.

Hedge Funds Weigh In On Bank OZK

Institutional investors have recently made changes to their positions in the business. SeaCrest Wealth Management LLC bought a new position in shares of Bank OZK in the second quarter worth about $150,000. Eaton Vance Management increased its stake in Bank OZK by 0.9% during the third quarter. Eaton Vance Management now owns 50,040 shares of the company’s stock valued at $1,980,000 after acquiring an additional 462 shares during the period. Boston Partners increased its stake in Bank OZK by 1.6% during the third quarter. Boston Partners now owns 30,277 shares of the company’s stock valued at $1,198,000 after acquiring an additional 476 shares during the period. AQR Capital Management LLC increased its stake in Bank OZK by 75.5% during the second quarter. AQR Capital Management LLC now owns 548,600 shares of the company’s stock valued at $20,040,000 after acquiring an additional 236,021 shares during the period. Finally, SVB Wealth LLC bought a new position in Bank OZK during the third quarter valued at about $501,000. 76.17% of the stock is currently owned by institutional investors.

About Bank OZK

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Bank OZK engages in the provision of community banking services. The firm offers deposit services such as checking, savings, money market, time deposit, and individual retirement accounts. It also provides loan services including types of real estate, consumer, commercial, industrial, and agricultural loans.