Bank OZK (NASDAQ:OZK) Price Target Increased to $63.00 by Analysts at Piper Sandler

by · The Markets Daily

Bank OZK (NASDAQ:OZK – Free Report) had its price objective hoisted by Piper Sandler from $58.00 to $63.00 in a research report report published on Friday morning, MarketBeat Ratings reports. They currently have an overweight rating on the stock.

Other equities analysts also recently issued research reports about the stock. Raymond James downgraded shares of Bank OZK from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 17th. StockNews.com upgraded Bank OZK from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Stephens reissued an “equal weight” rating and set a $50.00 price target on shares of Bank OZK in a report on Thursday, July 18th. Truist Financial cut their price objective on shares of Bank OZK from $49.00 to $48.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Finally, Morgan Stanley upped their target price on shares of Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $48.63.

Read Our Latest Analysis on Bank OZK

Bank OZK Price Performance

Shares of NASDAQ OZK opened at $44.67 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.02 and a quick ratio of 1.02. Bank OZK has a 1-year low of $34.76 and a 1-year high of $52.36. The business has a 50-day moving average of $42.19 and a 200-day moving average of $43.02. The company has a market capitalization of $5.07 billion, a price-to-earnings ratio of 7.42 and a beta of 1.17.

Bank OZK (NASDAQ:OZK – Get Free Report) last released its quarterly earnings results on Wednesday, July 17th. The company reported $1.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.52. The business had revenue of $416.78 million during the quarter, compared to the consensus estimate of $414.39 million. Bank OZK had a net margin of 27.04% and a return on equity of 14.50%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.47 earnings per share. On average, equities analysts anticipate that Bank OZK will post 6 EPS for the current fiscal year.

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 11th were issued a $0.41 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.64 annualized dividend and a dividend yield of 3.67%. This is a boost from Bank OZK’s previous quarterly dividend of $0.40. Bank OZK’s dividend payout ratio is currently 27.24%.

Institutional Investors Weigh In On Bank OZK

Several large investors have recently modified their holdings of the stock. PSI Advisors LLC raised its holdings in shares of Bank OZK by 20,933.3% during the second quarter. PSI Advisors LLC now owns 631 shares of the company’s stock valued at $26,000 after acquiring an additional 628 shares during the period. LRI Investments LLC purchased a new stake in shares of Bank OZK in the first quarter valued at $29,000. Versant Capital Management Inc boosted its position in shares of Bank OZK by 423.0% in the second quarter. Versant Capital Management Inc now owns 978 shares of the company’s stock worth $40,000 after buying an additional 791 shares during the period. American National Bank & Trust purchased a new position in shares of Bank OZK during the third quarter valued at $44,000. Finally, Innealta Capital LLC acquired a new position in Bank OZK during the second quarter valued at $46,000. 86.18% of the stock is owned by institutional investors.

Bank OZK Company Profile

(Get Free Report)

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.

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