Bank OZK (NASDAQ:OZK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Bank OZK (NASDAQ:OZK) from a sell rating to a hold rating in a report issued on Sunday morning,Wall Street Zen reports.

A number of other brokerages also recently commented on OZK. Morgan Stanley downgraded Bank OZK from an “equal weight” rating to an “underweight” rating and set a $56.00 price objective for the company. in a research report on Tuesday, September 8th. UBS Group raised their target price on shares of Bank OZK from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. 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 note on Friday, July 24th. Citigroup reiterated a “sell” rating on shares of Bank OZK in a report on Monday, August 17th. Finally, Piper Sandler reissued an “overweight” rating and issued a $61.00 price objective on shares of Bank OZK in a research report on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $54.86.

Bank OZK Trading Down 0.9%

NASDAQ:OZK opened at $46.20 on Friday. The firm has a market cap of $5.17 billion, a PE ratio of 7.64 and a beta of 0.88. The stock has a fifty day moving average price of $49.71 and a 200 day moving average price of $48.84. Bank OZK has a 12-month low of $42.37 and a 12-month high of $53.39. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.08.

Bank OZK (NASDAQ:OZK) last released its earnings results on Tuesday, July 21st. The company reported $1.49 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $436.42 million. During the same period in the previous year, the firm posted $1.47 EPS. Bank OZK’s revenue for the quarter was up .5% on a year-over-year basis. Sell-side analysts anticipate that Bank OZK will post 5.82 earnings per share for the current fiscal year.

Bank OZK declared that its Board of Directors has initiated a stock repurchase program on Monday, June 29th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Bank OZK

A number of institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its position in Bank OZK by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,625,660 shares of the company’s stock valued at $304,045,000 after buying an additional 38,592 shares during the last quarter. First Trust Advisors LP increased its stake in Bank OZK by 4.6% in the 1st quarter. First Trust Advisors LP now owns 3,036,101 shares of the company’s stock valued at $139,327,000 after buying an additional 134,490 shares during the period. Geode Capital Management LLC raised its position in Bank OZK by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 2,146,728 shares of the company’s stock worth $98,812,000 after buying an additional 29,024 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Bank OZK during the 2nd quarter worth $63,410,000. Finally, Norges Bank acquired a new stake in shares of Bank OZK in the 4th quarter worth $59,809,000. 86.18% of the stock is owned by institutional investors and hedge funds.

Bank OZK Company Profile

Bank OZK is a regional financial institution headquartered in Little Rock, Arkansas. The company provides banking services to individuals, businesses and institutions through a network of banking offices concentrated in the Southeastern United States and select markets, including New York and California.

Its products and services include checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, commercial and industrial financing, treasury management and other business banking solutions.