Bank OZK (NASDAQ:OZK) Receives $46.00 Consensus Target Price from Brokerages

Bank OZK (NASDAQ:OZK) has received a consensus rating of “Reduce” from the eight research firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $46.00.

Several analysts have weighed in on OZK shares. Stephens reiterated an “equal weight” rating and set a $50.00 price target on shares of Bank OZK in a research note on Thursday, May 30th. StockNews.com upgraded shares of Bank OZK from a “sell” rating to a “hold” rating in a report on Thursday, May 30th. Wells Fargo & Company reduced their price target on shares of Bank OZK from $39.00 to $35.00 and set an “underweight” rating for the company in a research report on Thursday, June 6th. Citigroup downgraded shares of Bank OZK from a “buy” rating to a “sell” rating and dropped their price objective for the company from $57.00 to $37.00 in a report on Wednesday, May 29th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Bank OZK from $45.00 to $47.00 and gave the stock a “market perform” rating in a research note on Monday, April 22nd.

Hedge Funds Weigh In On Bank OZK

Several large investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Bank OZK in the 4th quarter valued at about $56,293,000. Vanguard Group Inc. increased its position in shares of Bank OZK by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 12,028,779 shares of the company’s stock valued at $599,394,000 after buying an additional 502,005 shares in the last quarter. Wellington Management Group LLP raised its stake 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 worth $94,562,000 after buying an additional 300,025 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of Bank OZK during the 3rd quarter valued at approximately $10,788,000. Finally, Epoch Investment Partners Inc. purchased a new position in shares of Bank OZK during the 4th quarter valued at approximately $10,624,000. 86.18% of the stock is currently owned by institutional investors and hedge funds.

Bank OZK Stock Down 1.4 %

OZK stock opened at $40.66 on Monday. The stock has a market capitalization of $4.61 billion, a PE ratio of 6.81 and a beta of 1.20. Bank OZK has a 52 week low of $34.76 and a 52 week high of $52.36. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $43.12 and a 200 day moving average of $44.53.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings data on Thursday, April 18th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.44 by $0.07. Bank OZK had a net margin of 28.54% and a return on equity of 14.84%. The business had revenue of $406.02 million during the quarter, compared to the consensus estimate of $396.81 million. During the same period in the previous year, the firm posted $1.41 earnings per share. Sell-side analysts forecast that Bank OZK will post 6.1 earnings per share for the current year.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 12th will be paid a dividend of $0.40 per share. This is a boost from Bank OZK’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.94%. Bank OZK’s dividend payout ratio (DPR) is presently 26.13%.

About Bank OZK

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.