Bank OZK (NASDAQ:OZK) Reaches New 1-Year High – What’s Next?

Shares of Bank OZK (NASDAQ:OZK) reached a new 52-week high during trading on Wednesday . The company traded as high as $51.78 and last traded at $51.76, with a volume of 503204 shares. The stock had previously closed at $50.83.

Analyst Ratings Changes

A number of research analysts recently weighed in on OZK shares. Stephens lifted their target price on Bank OZK from $53.00 to $57.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Wells Fargo & Company upgraded Bank OZK from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $40.00 to $48.00 in a report on Tuesday, January 21st. UBS Group initiated coverage on shares of Bank OZK in a report on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 price target on the stock. Truist Financial decreased their price objective on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company in a research note on Monday, October 21st. Finally, Piper Sandler raised their target price on shares of Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Bank OZK currently has a consensus rating of “Hold” and a consensus price target of $50.00.

Bank OZK Stock Performance

The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 8.47 and a beta of 1.20. 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 stock’s fifty day moving average is $47.02 and its two-hundred day moving average is $44.98.

Bank OZK (NASDAQ:OZK) last released its earnings results on Thursday, January 16th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.44 by $0.12. The company had revenue of $412.34 million during the quarter, compared to analysts’ expectations of $407.19 million. Bank OZK had a return on equity of 13.90% and a net margin of 25.83%. The business’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.50 EPS. Analysts forecast that Bank OZK will post 5.97 earnings per share for the current year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 14th were issued a $0.42 dividend. The ex-dividend date of this dividend was Tuesday, January 14th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a dividend yield of 3.23%. Bank OZK’s payout ratio is 27.36%.

Institutional Investors Weigh In On Bank OZK

Institutional investors have recently bought and sold shares of the stock. M&T Bank Corp boosted its holdings in shares of Bank OZK by 1.9% in the third quarter. M&T Bank Corp now owns 13,432 shares of the company’s stock valued at $578,000 after acquiring an additional 244 shares in the last quarter. Principal Securities Inc. lifted its position in Bank OZK by 12.7% in the fourth quarter. Principal Securities Inc. now owns 2,509 shares of the company’s stock worth $112,000 after purchasing an additional 283 shares during the period. Arizona State Retirement System boosted its stake in Bank OZK by 1.0% during the 4th quarter. Arizona State Retirement System now owns 31,253 shares of the company’s stock valued at $1,392,000 after purchasing an additional 305 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Bank OZK by 2.1% during the 4th quarter. Pacer Advisors Inc. now owns 15,733 shares of the company’s stock valued at $701,000 after purchasing an additional 325 shares in the last quarter. Finally, Savant Capital LLC increased its position in shares of Bank OZK by 0.7% during the 4th quarter. Savant Capital LLC now owns 46,784 shares of the company’s stock valued at $2,083,000 after purchasing an additional 327 shares during the period. Institutional investors and hedge funds own 86.18% of the company’s stock.

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.