Bank OZK (NASDAQ:OZK) Price Target Cut to $54.00 by Analysts at Morgan Stanley

Bank OZK (NASDAQ:OZK - Get Free Report) had its price target lowered by Morgan Stanley from $58.00 to $54.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's price target would suggest a potential upside of 24.80% from the company's previous close.

Other equities research analysts have also issued reports about the company. UBS Group began coverage on Bank OZK in a research report on Tuesday, December 17th. They set a "neutral" rating and a $51.00 price target on the stock. Wells Fargo & Company upgraded Bank OZK from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $40.00 to $48.00 in a research note on Tuesday, January 21st. Finally, Stephens increased their price objective on shares of 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 given a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $50.38.

Bank OZK Price Performance

Shares of OZK stock traded down $0.62 during mid-day trading on Thursday, reaching $43.27. The company's stock had a trading volume of 224,622 shares, compared to its average volume of 1,234,368. The company has a market cap of $4.91 billion, a P/E ratio of 7.04 and a beta of 1.23. The firm's 50-day moving average is $48.12 and its two-hundred day moving average is $45.89. Bank OZK has a 1-year low of $37.43 and a 1-year high of $53.64. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.02 and a current ratio of 1.03.

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

Hedge Funds Weigh In On Bank OZK

Several institutional investors have recently modified their holdings of the business. State Street Corp increased its holdings in Bank OZK by 7.3% during the 3rd quarter. State Street Corp now owns 7,106,907 shares of the company's stock worth $305,526,000 after purchasing an additional 485,172 shares in the last quarter. Wasatch Advisors LP increased its holdings in shares of Bank OZK by 19.3% during the 4th quarter. Wasatch Advisors LP now owns 7,102,657 shares of the company's stock worth $316,281,000 after acquiring an additional 1,149,880 shares during the last quarter. Wellington Management Group LLP raised 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 purchasing an additional 1,041,198 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Bank OZK by 4.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,130,006 shares of the company's stock worth $183,909,000 after acquiring an additional 188,575 shares during the period. Finally, First Trust Advisors LP grew its holdings in Bank OZK by 30.4% in the 4th quarter. First Trust Advisors LP now owns 2,945,480 shares of the company's stock valued at $131,162,000 after buying an additional 686,775 shares in the last quarter. Institutional investors own 86.18% of the company's stock.

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.

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