Bank OZK (NASDAQ:OZK) Receives Equal Weight Rating from Stephens

Stephens reissued their equal weight rating on shares of Bank OZK (NASDAQ:OZK) in a research note released on Friday,Benzinga reports. The brokerage currently has a $53.00 price target on the stock.

A number of other research analysts also recently weighed in on OZK. UBS Group began coverage on Bank OZK in a report on Tuesday, December 17th. They set a “neutral” rating and a $51.00 price target on the stock. Piper Sandler increased their price target on shares of Bank OZK from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Wells Fargo & Company boosted their price objective on shares of Bank OZK from $35.00 to $40.00 and gave the company an “underweight” rating in a research report on Tuesday, December 3rd. Finally, Truist Financial cut their target price on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company in a research report on Monday, October 21st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Bank OZK currently has a consensus rating of “Hold” and an average price target of $48.50.

Bank OZK Stock Up 9.7 %

Shares of Bank OZK stock opened at $49.74 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12. Bank OZK has a 12-month low of $37.43 and a 12-month high of $51.50. The firm has a market capitalization of $5.64 billion, a PE ratio of 8.18 and a beta of 1.20. The stock’s fifty day moving average is $46.42 and its 200-day moving average is $44.20.

Bank OZK (NASDAQ:OZK) last announced its earnings results on Thursday, January 16th. The company reported $1.56 EPS for the quarter, topping 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 net margin of 26.07% and a return on equity of 14.15%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the company posted $1.50 earnings per share. Equities analysts anticipate that Bank OZK will post 6.03 earnings per share for the current year.

Bank OZK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 14th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.38%. This is an increase from Bank OZK’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Tuesday, January 14th. Bank OZK’s dividend payout ratio is presently 27.36%.

Institutional Investors Weigh In On Bank OZK

Several hedge funds and other institutional investors have recently made changes to their positions in OZK. State Street Corp boosted its stake in Bank OZK by 7.3% during the 3rd quarter. State Street Corp now owns 7,106,907 shares of the company’s stock valued at $305,526,000 after purchasing an additional 485,172 shares during the period. Wellington Management Group LLP boosted its position in shares of Bank OZK by 32.7% in the third quarter. Wellington Management Group LLP now owns 4,223,452 shares of the company’s stock valued at $181,566,000 after acquiring an additional 1,041,198 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Bank OZK by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,941,431 shares of the company’s stock worth $169,442,000 after acquiring an additional 112,648 shares during the last quarter. AQR Capital Management LLC grew its position in Bank OZK by 291.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,371,892 shares of the company’s stock worth $95,848,000 after purchasing an additional 1,765,974 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Bank OZK by 6.7% during the third quarter. Geode Capital Management LLC now owns 2,022,979 shares of the company’s stock valued at $86,989,000 after acquiring an additional 126,352 shares during the period. 86.18% of the stock is owned by institutional investors and hedge funds.

About Bank OZK

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.