Bank OZK (NASDAQ:OZK) Given New $51.00 Price Target at Stephens

Bank OZK (NASDAQ:OZK - Free Report) had its price target raised by Stephens from $48.00 to $51.00 in a report released on Monday, Benzinga reports. They currently have an equal weight rating on the stock.

Several other analysts have also issued reports on OZK. StockNews.com raised Bank OZK from a "sell" rating to a "hold" rating in a report on Thursday, July 18th. Raymond James lowered Bank OZK from an "outperform" rating to a "market perform" rating in a report on Tuesday, September 17th. Piper Sandler boosted their price target on Bank OZK from $58.00 to $63.00 and gave the company an "overweight" rating in a report on Friday. Truist Financial cut their price target on Bank OZK from $48.00 to $46.00 and set a "hold" rating for the company in a report on Monday. Finally, Morgan Stanley upped their price objective on Bank OZK from $48.00 to $51.00 and gave the stock an "equal weight" rating in a research note on Monday, August 5th. Two investment 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's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $48.50.

Bank OZK Stock Performance

NASDAQ:OZK traded down $1.70 during mid-day trading on Monday, hitting $42.97. 1,821,849 shares of the company traded hands, compared to its average volume of 1,284,015. The stock's fifty day moving average price is $42.19 and its 200-day moving average price is $43.01. Bank OZK has a one year low of $34.76 and a one year high of $52.36. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.17. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of 7.22 and a beta of 1.17.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 11th were given a $0.41 dividend. This is an increase from Bank OZK's previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date was Friday, October 11th. Bank OZK's payout ratio is currently 27.47%.

Institutional Investors Weigh In On Bank OZK

Hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC raised its position in Bank OZK by 291.5% during the second 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 period. Millennium Management LLC raised its position in Bank OZK by 196.4% during the second quarter. Millennium Management LLC now owns 1,365,393 shares of the company's stock valued at $55,981,000 after purchasing an additional 904,782 shares during the period. Victory Capital Management Inc. raised its position in Bank OZK by 483.9% during the second quarter. Victory Capital Management Inc. now owns 980,358 shares of the company's stock valued at $40,195,000 after purchasing an additional 812,464 shares during the period. Berkley W R Corp purchased a new stake in Bank OZK during the second quarter valued at approximately $24,600,000. Finally, Vanguard Group Inc. raised its position in Bank OZK by 4.4% during the fourth 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 period. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

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.