Bank OZK (NASDAQ:OZK) Stock Price Target Raised at Keefe, Bruyette & Woods

Bank OZK (NASDAQ:OZK) had its price objective increased by Keefe, Bruyette & Woods from $52.00 to $54.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a market perform rating on the stock.

OZK has been the subject of a number of other research reports. Morgan Stanley boosted their price target on shares of Bank OZK from $56.00 to $57.00 and gave the stock an “underweight” rating in a research note on Monday, September 28th. Weiss Ratings upgraded shares of Bank OZK from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. Zacks Research raised shares of Bank OZK from a “strong sell” rating to a “hold” rating in a report on Friday, September 25th. Piper Sandler reiterated an “overweight” rating and issued a $61.00 target price on shares of Bank OZK in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company reduced their target price on Bank OZK from $56.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 29th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Bank OZK currently has an average rating of “Hold” and an average price target of $55.14.

Bank OZK Stock Performance

Shares of OZK opened at $50.65 on Friday. The company has a market cap of $5.67 billion, a PE ratio of 8.50 and a beta of 0.92. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average price of $47.84 and a 200-day moving average price of $48.47. Bank OZK has a 12-month low of $42.37 and a 12-month high of $53.39.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings data on Tuesday, October 20th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.07. The company had revenue of $391.48 million for the quarter, compared to analysts’ expectations of $434.83 million. Bank OZK had a net margin of 24.70% and a return on equity of 11.56%. During the same period in the prior year, the business earned $1.59 earnings per share. As a group, equities analysts forecast that Bank OZK will post 5.91 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 20th. Investors of record on Tuesday, October 13th were given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Tuesday, October 13th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.48. Bank OZK’s dividend payout ratio is presently 32.89%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. raised its holdings in Bank OZK by 2.1% in the 2nd 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 period. Elevation Wealth Partners LLC lifted its holdings in shares of Bank OZK by 68.8% in the 3rd quarter. Elevation Wealth Partners LLC now owns 660 shares of the company’s stock worth $30,000 after acquiring an additional 269 shares during the last quarter. Evergreen Capital Management LLC boosted its position in shares of Bank OZK by 4.2% during the 3rd quarter. Evergreen Capital Management LLC now owns 7,919 shares of the company’s stock worth $364,000 after purchasing an additional 319 shares during the period. Park Avenue Securities LLC boosted its position in shares of Bank OZK by 3.0% during the 3rd quarter. Park Avenue Securities LLC now owns 12,181 shares of the company’s stock worth $560,000 after purchasing an additional 355 shares during the period. Finally, Groesbeck Investment Management Corp NJ increased its holdings in Bank OZK by 4.1% in the 3rd quarter. Groesbeck Investment Management Corp NJ now owns 10,607 shares of the company’s stock valued at $487,000 after purchasing an additional 418 shares during the last quarter. 86.18% of the stock is currently owned by institutional investors.

Bank OZK Company Profile

Bank OZK (NASDAQ:OZK) is a regional financial institution headquartered in Little Rock, Arkansas. The company provides banking services to individuals, businesses and institutions, including deposit accounts, commercial and consumer loans, mortgage lending, treasury management and online and mobile banking.

Bank OZK also operates specialized lending businesses, including its Real Estate Specialties Group, which provides financing for commercial real estate development and other complex real estate projects.