Bank OZK (NASDAQ:OZK) Price Target Raised to $50.00

Bank OZK (NASDAQ:OZK) had its price target upped by Wells Fargo & Company from $48.00 to $50.00 in a research report report published on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts have also recently commented on the company. Wall Street Zen upgraded Bank OZK from a “sell” rating to a “hold” rating in a research note on Saturday, January 3rd. Citigroup restated a “sell” rating on shares of Bank OZK in a research note on Monday, January 5th. Morgan Stanley upped their price objective on shares of Bank OZK from $57.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Piper Sandler set a $62.00 price objective on shares of Bank OZK in a research report on Thursday, January 22nd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Bank OZK in a research note on Tuesday, January 27th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Bank OZK currently has a consensus rating of “Hold” and an average target price of $57.22.

Bank OZK Stock Up 0.6%

NASDAQ:OZK opened at $46.17 on Monday. Bank OZK has a fifty-two week low of $35.71 and a fifty-two week high of $53.66. The stock has a market capitalization of $5.17 billion, a P/E ratio of 7.48 and a beta of 0.93. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.02 and a current ratio of 1.02. The company’s 50-day simple moving average is $46.99 and its 200-day simple moving average is $47.36.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings data on Tuesday, January 20th. The company reported $1.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.03). Bank OZK had a return on equity of 12.65% and a net margin of 25.50%.The firm had revenue of $436.29 million during the quarter, compared to analysts’ expectations of $434.68 million. During the same period in the previous year, the firm earned $1.56 EPS. On average, equities analysts anticipate that Bank OZK will post 6.02 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 20th. Stockholders of record on Tuesday, January 13th were paid a $0.46 dividend. The ex-dividend date was Tuesday, January 13th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.45. This represents a $1.84 annualized dividend and a dividend yield of 4.0%. Bank OZK’s dividend payout ratio (DPR) is 29.82%.

Institutional Investors Weigh In On Bank OZK

A number of large investors have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in Bank OZK during the 4th quarter worth approximately $25,000. Root Financial Partners LLC purchased a new stake in shares of Bank OZK in the 3rd quarter valued at $27,000. BOKF NA purchased a new stake in shares of Bank OZK in the 3rd quarter valued at $27,000. Highline Wealth Partners LLC acquired a new stake in shares of Bank OZK in the third quarter worth $28,000. Finally, True Wealth Design LLC raised its holdings in shares of Bank OZK by 147.0% during the third quarter. True Wealth Design LLC now owns 568 shares of the company’s stock worth $29,000 after purchasing an additional 338 shares during the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.

About Bank OZK

Bank OZK, formerly known as Bank of the Ozarks, is a regional commercial bank headquartered in Little Rock, Arkansas. Established in 1903, the bank offers a full suite of banking products and services to both individual and corporate clients. Through a combination of organic growth and targeted acquisitions, Bank OZK has built a diversified lending portfolio and a strong deposit franchise.

The bank’s core operations focus on commercial real estate lending, including acquisition, development and construction financing.