Brokerages Set Bank OZK (NASDAQ:OZK) Target Price at $48.50

Bank OZK (NASDAQ:OZK - Get Free Report) has earned a consensus rating of "Reduce" from the nine brokerages that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $48.50.

Several research analysts recently weighed in on OZK shares. Raymond James cut shares of Bank OZK from an "outperform" rating to a "market perform" rating in a report on Tuesday, September 17th. Truist Financial cut their price target 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. Morgan Stanley boosted their price target on shares of Bank OZK from $48.00 to $51.00 and gave the stock an "equal weight" rating in a report on Monday, August 5th. Piper Sandler boosted their price target on shares of Bank OZK from $58.00 to $63.00 and gave the stock an "overweight" rating in a report on Friday, October 18th. Finally, Stephens boosted their price target on shares of Bank OZK from $48.00 to $51.00 and gave the stock an "equal weight" rating in a report on Monday, October 21st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OZK. Price T Rowe Associates Inc. MD raised its position in shares of Bank OZK by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 62,444 shares of the company's stock valued at $2,839,000 after purchasing an additional 3,301 shares during the period. Tidal Investments LLC raised its position in shares of Bank OZK by 4.0% in the first quarter. Tidal Investments LLC now owns 5,491 shares of the company's stock valued at $250,000 after purchasing an additional 210 shares during the period. Pathway Financial Advisers LLC bought a new stake in shares of Bank OZK in the first quarter valued at approximately $60,000. Versant Capital Management Inc raised its position in shares of Bank OZK by 423.0% in the second quarter. Versant Capital Management Inc now owns 978 shares of the company's stock valued at $40,000 after purchasing an additional 791 shares during the period. Finally, CWM LLC raised its position in shares of Bank OZK by 2,027.9% in the second quarter. CWM LLC now owns 9,746 shares of the company's stock valued at $400,000 after purchasing an additional 9,288 shares during the period. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

Bank OZK Stock Up 0.1 %

Shares of NASDAQ:OZK traded up $0.04 during midday trading on Thursday, hitting $49.94. 1,490,110 shares of the company's stock were exchanged, compared to its average volume of 1,279,285. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a 50 day moving average price of $44.92 and a 200-day moving average price of $43.30. The company has a market cap of $5.67 billion, a PE ratio of 8.21 and a beta of 1.16. Bank OZK has a 12 month low of $37.43 and a 12 month high of $52.36.

Bank OZK (NASDAQ:OZK - Get Free Report) last posted its earnings results on Thursday, October 17th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.53 by $0.02. The company had revenue of $423.00 million during the quarter, compared to the consensus estimate of $419.08 million. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. On average, sell-side analysts anticipate that Bank OZK will post 6.03 EPS for the current fiscal year.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 11th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.28%. This is a boost from Bank OZK's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, October 11th. Bank OZK's payout ratio is presently 26.97%.

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.