Bank OZK (NASDAQ:OZK) Price Target Cut to $50.00 by Analysts at Raymond James

Bank OZK (NASDAQ:OZKGet Rating) had its target price dropped by research analysts at Raymond James from $54.00 to $50.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ target price suggests a potential upside of 22.73% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. StockNews.com initiated coverage on Bank OZK in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research raised Bank OZK from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Tuesday, December 28th. Piper Sandler lowered their price target on Bank OZK from $64.00 to $60.00 and set an “overweight” rating for the company in a research note on Friday, March 11th. Truist Financial boosted their price target on Bank OZK from $48.00 to $53.00 in a research note on Monday, January 24th. Finally, Citigroup upped their target price on Bank OZK from $46.00 to $50.00 in a research report on Tuesday, January 25th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $53.43.

NASDAQ:OZK opened at $40.74 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.99 and a quick ratio of 0.99. Bank OZK has a fifty-two week low of $38.57 and a fifty-two week high of $51.39. The stock’s 50-day moving average is $43.59 and its two-hundred day moving average is $45.64. The stock has a market cap of $5.11 billion, a PE ratio of 9.37 and a beta of 1.56.

Bank OZK (NASDAQ:OZKGet Rating) last announced its quarterly earnings results on Thursday, April 21st. The company reported $1.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.07. The business had revenue of $280.82 million during the quarter, compared to analysts’ expectations of $273.45 million. Bank OZK had a return on equity of 12.46% and a net margin of 47.54%. During the same quarter in the previous year, the business posted $1.11 EPS. On average, equities research analysts anticipate that Bank OZK will post 3.93 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of OZK. Norges Bank acquired a new position in shares of Bank OZK in the fourth quarter valued at $53,315,000. Wasatch Advisors Inc. raised its stake in shares of Bank OZK by 5.7% in the third quarter. Wasatch Advisors Inc. now owns 9,797,443 shares of the company’s stock valued at $421,094,000 after purchasing an additional 532,351 shares in the last quarter. Millennium Management LLC raised its stake in shares of Bank OZK by 55.7% in the third quarter. Millennium Management LLC now owns 918,050 shares of the company’s stock valued at $39,458,000 after purchasing an additional 328,418 shares in the last quarter. Epoch Investment Partners Inc. raised its stake in shares of Bank OZK by 36.6% in the third quarter. Epoch Investment Partners Inc. now owns 872,265 shares of the company’s stock valued at $37,490,000 after purchasing an additional 233,594 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Bank OZK by 74.3% in the fourth quarter. First Trust Advisors LP now owns 516,749 shares of the company’s stock valued at $24,044,000 after purchasing an additional 220,310 shares in the last quarter. Institutional investors and hedge funds own 79.75% of the company’s stock.

About Bank OZK (Get Rating)

Bank OZK provides various retail and commercial banking services. It accepts various deposit products, including non-interest-bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time deposits. The company also offers real estate, consumer and business purpose, indirect recreational vehicle and marine, commercial and industrial, government guaranteed, agricultural, small business, homebuilder, and affordable housing loans; business aviation and subscription financing services; and mortgage and other lending products.

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