TD Cowen Lowers Bank OZK (NASDAQ:OZK) Price Target to $52.00

Bank OZK (NASDAQ:OZK) had its price objective dropped by TD Cowen from $53.00 to $52.00 in a report released on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s price objective points to a potential upside of 3.32% from the company’s current price.

OZK has been the topic of a number of other reports. Wells Fargo & Company boosted their target price on shares of Bank OZK from $50.00 to $52.00 and gave the stock an “equal weight” rating in a report on Monday, July 6th. Weiss Ratings raised shares of Bank OZK from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. UBS Group assumed coverage on shares of Bank OZK in a report on Tuesday, April 7th. They set a “neutral” rating and a $48.00 price target on the stock. Wall Street Zen raised shares of Bank OZK from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Finally, Piper Sandler restated an “overweight” rating and issued a $61.00 price objective on shares of Bank OZK in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Bank OZK presently has a consensus rating of “Hold” and an average price target of $56.00.

Bank OZK Stock Performance

Shares of OZK stock opened at $50.33 on Friday. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of 8.32 and a beta of 0.89. The company has a current ratio of 0.97, a quick ratio of 1.00 and a debt-to-equity ratio of 0.08. The business’s 50-day moving average price is $50.01 and its 200-day moving average price is $48.28. Bank OZK has a 12 month low of $42.37 and a 12 month high of $53.66.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings data on Tuesday, July 21st. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.01. The company had revenue of $430.02 million during the quarter, compared to the consensus estimate of $436.42 million. Bank OZK had a return on equity of 11.87% and a net margin of 24.95%.The firm’s revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.47 earnings per share. Equities research analysts forecast that Bank OZK will post 5.94 EPS for the current year.

Bank OZK announced that its board has authorized a share repurchase plan on Monday, June 29th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of Bank OZK in the 4th quarter valued at $25,000. BOKF NA bought a new position in Bank OZK during the third quarter worth $27,000. Bayforest Capital Ltd raised its stake in Bank OZK by 100.5% during the fourth quarter. Bayforest Capital Ltd now owns 766 shares of the company’s stock worth $35,000 after buying an additional 384 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in Bank OZK in the fourth quarter valued at $36,000. Finally, Transamerica Financial Advisors LLC lifted its holdings in Bank OZK by 111.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 830 shares of the company’s stock valued at $38,000 after buying an additional 437 shares during the period. Institutional investors and hedge funds own 86.18% of the company’s stock.

About Bank OZK

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.