Bank OZK (NASDAQ:OZK) Price Target Cut to $56.00 by Analysts at TD Cowen

Bank OZK (NASDAQ:OZK) had its price objective decreased by TD Cowen from $61.00 to $56.00 in a report published on Wednesday morning,Benzinga reports. TD Cowen currently has a buy rating on the stock.

Several other equities analysts also recently issued reports on OZK. National Bankshares set a $67.00 target price on Bank OZK in a research report on Wednesday, September 24th. Wall Street Zen upgraded Bank OZK from a “sell” rating to a “hold” rating in a research note on Saturday, January 3rd. Citigroup reissued a “sell” rating on shares of Bank OZK in a report on Monday. Zacks Research downgraded Bank OZK from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Finally, UBS Group reiterated a “neutral” rating and issued a $51.00 target price on shares of Bank OZK in a research report on Tuesday. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $57.00.

Bank OZK Stock Performance

OZK opened at $46.96 on Wednesday. The company has a market cap of $5.25 billion, a P/E ratio of 7.57 and a beta of 0.90. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $46.07 and its 200-day moving average price is $48.78. Bank OZK has a 52-week low of $35.71 and a 52-week high of $53.66.

Bank OZK (NASDAQ:OZK) last released its earnings results on Thursday, October 16th. The company reported $1.59 EPS for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.07). Bank OZK had a return on equity of 13.00% and a net margin of 25.81%.The company had revenue of $449.94 million during the quarter, compared to analyst estimates of $447.93 million. During the same quarter last year, the business earned $1.55 earnings per share. As a group, equities analysts anticipate that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 20th. Investors of record on Tuesday, January 13th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.9%. This is a positive change from Bank OZK’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, January 13th. Bank OZK’s dividend payout ratio is 29.03%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of OZK. Truist Financial Corp raised its position in shares of Bank OZK by 7.1% in the second quarter. Truist Financial Corp now owns 16,494 shares of the company’s stock worth $776,000 after acquiring an additional 1,088 shares during the period. Nomura Holdings Inc. grew its position in shares of Bank OZK by 160.6% during the 2nd quarter. Nomura Holdings Inc. now owns 107,000 shares of the company’s stock valued at $5,035,000 after acquiring an additional 65,946 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Bank OZK by 57.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 694,956 shares of the company’s stock valued at $32,705,000 after purchasing an additional 253,001 shares in the last quarter. Tectonic Advisors LLC acquired a new position in Bank OZK in the 3rd quarter worth about $773,000. Finally, American Century Companies Inc. boosted its position in Bank OZK by 9.4% during the second quarter. American Century Companies Inc. now owns 2,631,607 shares of the company’s stock worth $123,843,000 after purchasing an additional 226,315 shares in the last quarter. 86.18% of the stock is owned by institutional investors and hedge funds.

Bank OZK Company Profile

Bank OZK, formerly known as Bank of the Ozarks, is a regional commercial bank headquartered in Little Rock, Arkansas. Established in 1903, the bank offers a full suite of banking products and services to both individual and corporate clients. Through a combination of organic growth and targeted acquisitions, Bank OZK has built a diversified lending portfolio and a strong deposit franchise.

The bank’s core operations focus on commercial real estate lending, including acquisition, development and construction financing.