Bank OZK (NASDAQ:OZK) Receives $56.88 Consensus PT from Brokerages

Shares of Bank OZK (NASDAQ:OZK) have earned an average rating of “Hold” from the eleven analysts that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $56.8750.

Several research analysts recently issued reports on the stock. TD Cowen cut their target price on shares of Bank OZK from $53.00 to $52.00 and set a “hold” rating on the stock in a research note on Friday, July 24th. Wall Street Zen raised shares of Bank OZK from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Wells Fargo & Company upped their price objective on shares of Bank OZK from $52.00 to $56.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. UBS Group increased their price objective on shares of Bank OZK from $50.00 to $51.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Finally, Citigroup restated a “sell” rating on shares of Bank OZK in a research note on Monday, August 17th.

Bank OZK Trading Up 0.7%

NASDAQ OZK opened at $49.09 on Wednesday. The business has a 50 day simple moving average of $50.53 and a 200 day simple moving average of $48.78. Bank OZK has a one year low of $42.37 and a one year high of $53.41. The stock has a market capitalization of $5.49 billion, a P/E ratio of 8.11 and a beta of 0.88. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.97 and a quick ratio of 0.97.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.01. The firm had revenue of $430.02 million for the quarter, compared to analyst estimates of $436.42 million. Bank OZK had a return on equity of 11.87% and a net margin of 24.95%.The company’s revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.47 earnings per share. Research analysts expect that Bank OZK will post 5.83 earnings per share for the current year.

Bank OZK declared that its Board of Directors has initiated a stock repurchase program on Monday, June 29th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Monday, July 13th were issued a $0.48 dividend. The ex-dividend date was Monday, July 13th. This is an increase from Bank OZK’s previous quarterly dividend of $0.47. This represents a $1.92 annualized dividend and a yield of 3.9%. Bank OZK’s dividend payout ratio is currently 31.74%.

Institutional Investors Weigh In On Bank OZK

Several hedge funds and other institutional investors have recently modified their holdings of OZK. BOKF NA bought a new position in shares of Bank OZK in the 3rd quarter worth $27,000. IFP Advisors Inc increased its stake in Bank OZK by 1,307.5% during the 2nd quarter. IFP Advisors Inc now owns 746 shares of the company’s stock valued at $39,000 after purchasing an additional 693 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in Bank OZK during the fourth quarter worth $36,000. Transamerica Financial Advisors LLC raised its holdings in Bank OZK by 111.2% during the fourth quarter. Transamerica Financial Advisors LLC now owns 830 shares of the company’s stock worth $38,000 after buying an additional 437 shares during the last quarter. Finally, Employees Retirement System of Texas bought a new position in shares of Bank OZK in the third quarter valued at $51,000. Institutional investors own 86.18% of the company’s stock.

Bank OZK Company Profile

Bank OZK is a regional financial institution headquartered in Little Rock, Arkansas. The company provides banking services to individuals, businesses and institutions through a network of banking offices concentrated in the Southeastern United States and select markets, including New York and California.

Its products and services include checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, commercial and industrial financing, treasury management and other business banking solutions.