Bank OZK (NASDAQ:OZK) Price Target Raised to $61.00 at Morgan Stanley

Bank OZK (NASDAQ:OZK) had its target price boosted by stock analysts at Morgan Stanley from $57.00 to $61.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 28.05% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. TD Cowen reduced their price target on Bank OZK from $56.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Bank OZK in a report on Tuesday, January 27th. UBS Group reissued a “neutral” rating and set a $51.00 price target on shares of Bank OZK in a report on Tuesday, January 6th. Wall Street Zen upgraded shares of Bank OZK from a “sell” rating to a “hold” rating in a research report on Saturday, January 3rd. Finally, Citigroup reiterated a “sell” rating on shares of Bank OZK in a research report on Monday, January 5th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $57.22.

Bank OZK Stock Performance

NASDAQ OZK traded up $1.08 on Monday, reaching $47.64. 248,402 shares of the company’s stock traded hands, compared to its average volume of 1,376,148. Bank OZK has a fifty-two week low of $35.71 and a fifty-two week high of $53.66. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.03 and a current ratio of 1.02. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 7.73 and a beta of 0.93. The stock has a 50 day moving average price of $48.11 and a 200-day moving average price of $48.42.

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

Institutional Trading of Bank OZK

A number of institutional investors have recently modified their holdings of OZK. Royal Bank of Canada lifted its holdings in Bank OZK by 37.8% in the first quarter. Royal Bank of Canada now owns 41,257 shares of the company’s stock valued at $1,792,000 after acquiring an additional 11,310 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Bank OZK by 14.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,690 shares of the company’s stock valued at $2,029,000 after purchasing an additional 5,717 shares during the period. Empowered Funds LLC boosted its holdings in Bank OZK by 1.8% during the first quarter. Empowered Funds LLC now owns 60,037 shares of the company’s stock worth $2,609,000 after buying an additional 1,058 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Bank OZK by 8.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 349,749 shares of the company’s stock worth $15,197,000 after buying an additional 26,676 shares during the period. Finally, Focus Partners Wealth grew its position in Bank OZK by 11.0% during the first quarter. Focus Partners Wealth now owns 17,711 shares of the company’s stock worth $770,000 after buying an additional 1,756 shares during the period. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

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.