Bank OZK (NASDAQ:OZK) PT Raised to $63.00

Bank OZK (NASDAQ:OZK) had its target price upped by Piper Sandler from $58.00 to $63.00 in a research note published on Friday morning, MarketBeat.com reports. The firm currently has an overweight rating on the stock.

Other equities research analysts have also issued reports about the company. Morgan Stanley boosted their target price on Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Truist Financial lowered their target price on shares of Bank OZK from $49.00 to $48.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Stephens reaffirmed an “equal weight” rating and set a $50.00 price objective on shares of Bank OZK in a report on Thursday, July 18th. StockNews.com raised Bank OZK from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Finally, Raymond James lowered Bank OZK from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $48.50.

Bank OZK Price Performance

Shares of NASDAQ:OZK opened at $42.97 on Friday. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of 7.20 and a beta of 1.17. Bank OZK has a 1 year low of $34.76 and a 1 year high of $52.36. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.17. The business has a fifty day simple moving average of $42.25 and a 200 day simple moving average of $43.00.

Bank OZK Increases Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Tidal Investments LLC lifted its stake in shares of Bank OZK by 4.0% in the 1st quarter. Tidal Investments LLC now owns 5,491 shares of the company’s stock valued at $250,000 after purchasing an additional 210 shares during the period. HB Wealth Management LLC lifted its stake in Bank OZK by 3.9% during the 1st quarter. HB Wealth Management LLC now owns 6,607 shares of the company’s stock valued at $300,000 after acquiring an additional 249 shares in the last quarter. Evergreen Capital Management LLC boosted its holdings in Bank OZK by 8.3% during the second quarter. Evergreen Capital Management LLC now owns 5,079 shares of the company’s stock worth $208,000 after purchasing an additional 388 shares during the last quarter. Naples Global Advisors LLC boosted its stake in shares of Bank OZK by 2.5% in the 2nd quarter. Naples Global Advisors LLC now owns 16,550 shares of the company’s stock worth $679,000 after buying an additional 400 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in Bank OZK by 0.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 82,134 shares of the company’s stock valued at $3,733,000 after purchasing an additional 409 shares during the period. 86.18% of the stock is currently owned by institutional investors and hedge funds.

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.