Bank OZK (NASDAQ:OZK) Price Target Raised to $61.00

Bank OZK (NASDAQ:OZK) had its price target lifted by Morgan Stanley from $57.00 to $61.00 in a research report sent to investors on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other analysts also recently weighed in on OZK. Piper Sandler set a $62.00 price objective on Bank OZK in a research report on Thursday, January 22nd. TD Cowen lowered their price target on shares of Bank OZK from $56.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. Citigroup reissued a “sell” rating on shares of Bank OZK in a research report on Monday, January 5th. UBS Group restated a “neutral” rating and issued a $51.00 price objective on shares of Bank OZK in a research report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Bank OZK in a report on Tuesday, January 27th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $57.22.

Bank OZK Stock Down 0.7%

Shares of NASDAQ:OZK opened at $46.83 on Monday. The stock has a market capitalization of $5.24 billion, a P/E ratio of 7.59 and a beta of 0.93. The stock’s 50-day moving average price is $48.10 and its 200-day moving average price is $48.37. The company has a current ratio of 1.02, a quick ratio of 1.03 and a debt-to-equity ratio of 0.08. Bank OZK has a 12-month low of $35.71 and a 12-month high of $53.66.

Bank OZK (NASDAQ:OZK) last released its earnings results on Tuesday, January 20th. The company reported $1.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.03). Bank OZK had a net margin of 25.50% and a return on equity of 12.65%. The company had revenue of $436.29 million during the quarter, compared to the consensus estimate of $434.68 million. During the same period last year, the firm posted $1.56 EPS. On average, equities analysts anticipate that Bank OZK will post 6.02 earnings per share for the current year.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 20th. Shareholders of record on Tuesday, January 13th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Tuesday, January 13th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.45. Bank OZK’s payout ratio is presently 29.82%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new stake in Bank OZK in the fourth quarter worth $25,000. Root Financial Partners LLC bought a new stake in shares of Bank OZK during the 3rd quarter valued at $27,000. BOKF NA purchased a new stake in shares of Bank OZK in the 3rd quarter worth about $27,000. Hantz Financial Services Inc. increased its stake in shares of Bank OZK by 58.2% in the 2nd quarter. Hantz Financial Services Inc. now owns 590 shares of the company’s stock worth $28,000 after acquiring an additional 217 shares in the last quarter. Finally, Highline Wealth Partners LLC purchased a new position in Bank OZK during the 3rd quarter valued at about $28,000. Hedge funds and other institutional investors own 86.18% of the company’s stock.

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.