Bank OZK (NASDAQ:OZK) Price Target Cut to $40.00 by Analysts at Wells Fargo & Company

Bank OZK (NASDAQ:OZK - Free Report) had its price objective trimmed by Wells Fargo & Company from $48.00 to $40.00 in a research note published on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research analysts also recently issued reports on the stock. UBS Group began coverage on shares of Bank OZK in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $51.00 price target on the stock. Morgan Stanley cut their price target on shares of Bank OZK from $58.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Finally, Stephens increased their price target on Bank OZK from $53.00 to $57.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Bank OZK has an average rating of "Hold" and a consensus price target of $49.38.

Bank OZK Trading Up 2.2 %

NASDAQ:OZK traded up $0.84 during mid-day trading on Wednesday, hitting $38.38. 1,982,344 shares of the company's stock were exchanged, compared to its average volume of 1,323,543. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.16. Bank OZK has a fifty-two week low of $35.71 and a fifty-two week high of $53.64. The firm has a market capitalization of $4.35 billion, a P/E ratio of 6.25 and a beta of 1.05. The company has a 50 day simple moving average of $45.58 and a 200-day simple moving average of $45.93.

Remove Ads

Bank OZK (NASDAQ:OZK - Get Free Report) 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. Bank OZK had a return on equity of 13.90% and a net margin of 25.83%. The firm had revenue of $412.34 million for the quarter, compared to the consensus estimate of $407.19 million. During the same period in the previous year, the business earned $1.50 EPS. The business's quarterly revenue was up 1.2% compared to the same quarter last year. As a group, research analysts expect that Bank OZK will post 6.02 earnings per share for the current year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 14th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend is Monday, April 14th. This is a positive change from Bank OZK's previous quarterly dividend of $0.42. Bank OZK's payout ratio is 28.01%.

Institutional Investors Weigh In On Bank OZK

Several hedge funds and other institutional investors have recently made changes to their positions in OZK. Kestra Investment Management LLC acquired a new position in Bank OZK during the 4th quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Bank OZK during the fourth quarter valued at approximately $27,000. Smartleaf Asset Management LLC grew its holdings in Bank OZK by 176.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 761 shares of the company's stock worth $34,000 after buying an additional 486 shares in the last quarter. V Square Quantitative Management LLC raised its position in Bank OZK by 81.3% in the 4th quarter. V Square Quantitative Management LLC now owns 948 shares of the company's stock valued at $42,000 after buying an additional 425 shares during the last quarter. Finally, Bruce G. Allen Investments LLC boosted its holdings in Bank OZK by 4,828.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 1,035 shares of the company's stock worth $45,000 after acquiring an additional 1,014 shares during the last quarter. 86.18% of the stock is owned by institutional investors.

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.