Bank OZK (NASDAQ:OZK) Price Target Raised to $63.00

Bank OZK (NASDAQ:OZK - Free Report) had its price objective hoisted by Piper Sandler from $58.00 to $63.00 in a report published on Friday, Marketbeat reports. They currently have an overweight rating on the stock.

Other equities research analysts also recently issued reports about the company. Raymond James downgraded Bank OZK from an "outperform" rating to a "market perform" rating in a research report on Tuesday, September 17th. Truist Financial decreased their price objective on Bank OZK from $49.00 to $48.00 and set a "hold" rating on the stock in a research report on Friday, September 20th. StockNews.com upgraded Bank OZK from a "sell" rating to a "hold" rating in a research report on Thursday, July 18th. Stephens restated an "equal weight" rating and set a $50.00 price objective on shares of Bank OZK in a research report on Thursday, July 18th. Finally, Morgan Stanley upped their price objective on Bank OZK from $48.00 to $51.00 and gave the company an "equal weight" rating in a research report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $48.63.

Bank OZK Price Performance

Shares of NASDAQ OZK traded down $2.09 during mid-day trading on Friday, reaching $44.67. The company's stock had a trading volume of 3,609,083 shares, compared to its average volume of 1,282,060. The firm has a market capitalization of $5.07 billion, a PE ratio of 7.62 and a beta of 1.17. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a fifty day moving average of $42.12 and a two-hundred day moving average of $43.02. Bank OZK has a 52 week low of $34.76 and a 52 week high of $52.36.

Bank OZK (NASDAQ:OZK - Get Free Report) last released its quarterly earnings data on Wednesday, July 17th. The company reported $1.52 earnings per share for the quarter, hitting analysts' consensus estimates of $1.52. The firm had revenue of $416.78 million during the quarter, compared to analyst estimates of $414.39 million. Bank OZK had a return on equity of 14.50% and a net margin of 27.04%. The business's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.47 earnings per share. As a group, sell-side analysts anticipate that Bank OZK will post 6 EPS for the current fiscal year.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 11th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend is Friday, October 11th. This is a boost from Bank OZK's previous quarterly dividend of $0.40. Bank OZK's dividend payout ratio (DPR) is 27.47%.

Institutional Trading of Bank OZK

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Bank OZK by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 12,028,779 shares of the company's stock valued at $599,394,000 after purchasing an additional 502,005 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Bank OZK by 291.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,371,892 shares of the company's stock valued at $95,848,000 after purchasing an additional 1,765,974 shares during the last quarter. Van Berkom & Associates Inc. lifted its holdings in shares of Bank OZK by 2.0% during the 2nd quarter. Van Berkom & Associates Inc. now owns 2,024,130 shares of the company's stock valued at $82,989,000 after purchasing an additional 40,356 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Bank OZK by 18.8% during the 4th quarter. Wellington Management Group LLP now owns 1,897,696 shares of the company's stock valued at $94,562,000 after purchasing an additional 300,025 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Bank OZK by 21.9% during the 2nd quarter. American Century Companies Inc. now owns 1,642,293 shares of the company's stock valued at $67,334,000 after purchasing an additional 295,298 shares during the last quarter. Institutional investors 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.