Bank OZK (NASDAQ:OZK) Now Covered by TD Cowen

TD Cowen started coverage on shares of Bank OZK (NASDAQ:OZK) in a research report report published on Thursday,Benzinga reports. The brokerage issued a buy rating and a $67.00 price objective on the stock.

OZK has been the subject of a number of other research reports. Cowen assumed coverage on Bank OZK in a research note on Wednesday. They issued a “buy” rating for the company. Stephens raised shares of Bank OZK from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $58.00 to $65.00 in a research report on Wednesday, August 20th. Wells Fargo & Company boosted their price target on shares of Bank OZK from $48.00 to $49.00 and gave the company an “equal weight” rating in a research note on Monday, July 21st. Finally, Raymond James Financial raised shares of Bank OZK from a “market perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a research note on Tuesday, July 8th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.67.

Bank OZK Trading Up 1.4%

OZK opened at $51.84 on Thursday. The company has a fifty day moving average price of $51.06 and a two-hundred day moving average price of $46.92. Bank OZK has a 1-year low of $35.71 and a 1-year high of $53.66. The company has a market cap of $5.90 billion, a P/E ratio of 8.42 and a beta of 0.92. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23.

Bank OZK (NASDAQ:OZK) last issued its earnings results on Thursday, July 17th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.51 by $0.07. Bank OZK had a return on equity of 13.24% and a net margin of 25.83%.The company had revenue of $428.04 million during the quarter, compared to the consensus estimate of $423.41 million. During the same period last year, the business posted $1.52 EPS. Analysts predict that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Friday, July 11th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.76 dividend on an annualized basis and a yield of 3.4%. This is a positive change from Bank OZK’s previous quarterly dividend of $0.43. Bank OZK’s payout ratio is presently 28.57%.

Institutional Trading of Bank OZK

Several institutional investors and hedge funds have recently made changes to their positions in OZK. Charles Schwab Investment Management Inc. grew its position in Bank OZK by 1.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,406,933 shares of the company’s stock worth $207,390,000 after purchasing an additional 56,713 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Bank OZK by 0.3% in the 2nd quarter. First Trust Advisors LP now owns 2,790,739 shares of the company’s stock worth $131,332,000 after buying an additional 9,540 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Bank OZK by 9.4% in the second quarter. American Century Companies Inc. now owns 2,631,607 shares of the company’s stock valued at $123,843,000 after acquiring an additional 226,315 shares in the last quarter. Senvest Management LLC grew its holdings in shares of Bank OZK by 24.4% in the second quarter. Senvest Management LLC now owns 1,581,582 shares of the company’s stock valued at $74,429,000 after acquiring an additional 310,707 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Bank OZK during the second quarter valued at approximately $68,960,000. Hedge funds and other institutional investors own 86.18% of the company’s stock.

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.