Bank OZK (NASDAQ:OZK) Hits New 12-Month High – Should You Buy?

Bank OZK (NASDAQ:OZK)’s share price hit a new 52-week high on Monday . The stock traded as high as $51.52 and last traded at $51.05, with a volume of 96678 shares. The stock had previously closed at $50.93.

Analysts Set New Price Targets

Several research firms recently issued reports on OZK. Wells Fargo & Company upgraded shares of Bank OZK from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $40.00 to $48.00 in a report on Tuesday, January 21st. Piper Sandler boosted their target price on shares of Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Truist Financial dropped their target price on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating on the stock in a report on Monday, October 21st. UBS Group began coverage on shares of Bank OZK in a report on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 target price on the stock. Finally, Stephens boosted their target price on shares of Bank OZK from $53.00 to $57.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bank OZK currently has a consensus rating of “Hold” and an average target price of $50.00.

Bank OZK Stock Down 0.0 %

The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.02 and a current ratio of 1.03. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 8.30 and a beta of 1.20. The stock’s fifty day moving average is $46.66 and its two-hundred day moving average is $44.59.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings data on Thursday, January 16th. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.12. Bank OZK had a net margin of 25.83% and a return on equity of 13.90%. The business had revenue of $412.34 million during the quarter, compared to the consensus estimate of $407.19 million. During the same period in the prior year, the firm posted $1.50 EPS. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. Sell-side analysts predict that Bank OZK will post 5.97 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 14th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.30%. This is an increase from Bank OZK’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Tuesday, January 14th. Bank OZK’s dividend payout ratio is presently 27.36%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of OZK. Evergreen Capital Management LLC grew its position in shares of Bank OZK by 8.3% during the 2nd quarter. Evergreen Capital Management LLC now owns 5,079 shares of the company’s stock valued at $208,000 after acquiring an additional 388 shares during the period. Bank of Montreal Can boosted its holdings in Bank OZK by 27.7% in the 2nd quarter. Bank of Montreal Can now owns 61,110 shares of the company’s stock worth $2,507,000 after buying an additional 13,245 shares during the period. AXA S.A. boosted its holdings in Bank OZK by 677.8% in the 2nd quarter. AXA S.A. now owns 121,010 shares of the company’s stock worth $4,961,000 after buying an additional 105,452 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in Bank OZK by 115.0% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 715,844 shares of the company’s stock worth $29,350,000 after buying an additional 382,896 shares during the period. Finally, Millennium Management LLC boosted its holdings in Bank OZK by 196.4% in the 2nd quarter. Millennium Management LLC now owns 1,365,393 shares of the company’s stock worth $55,981,000 after buying an additional 904,782 shares during the period. 86.18% of the stock is owned by institutional investors.

Bank OZK Company Profile

Bank OZK provides various retail and commercial banking services for individuals and businesses in the United States. The company offers deposit services, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time and reciprocal deposits.