Bank OZK (NASDAQ:OZK) Price Target Raised to $57.00

Key Points

• Morgan Stanley raised Bank OZK’s price target from $56 to $57 while maintaining an “underweight” rating, implying 21.56% potential upside from the $46.89 share price.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $55.57 based on three Buy, five Hold, and three Sell ratings.
• Bank OZK slightly exceeded quarterly EPS estimates, reporting $1.49 versus $1.48 expected, and authorized a $200 million share repurchase program covering up to 3.4% of outstanding shares.

Bank OZK (NASDAQ:OZK - Get Free Report) had its price target boosted by equities research analysts at Morgan Stanley from $56.00 to $57.00 in a report released on Monday, Benzinga reports. The brokerage currently has an "underweight" rating on the stock. Morgan Stanley's price target would indicate a potential upside of 21.56% from the company's current price.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company upped their price target on shares of Bank OZK from $52.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Monday, August 10th. UBS Group boosted their target price on shares of Bank OZK from $50.00 to $51.00 and gave the company a "neutral" rating in a research note on Tuesday, July 28th. Raymond James Financial started coverage on shares of Bank OZK in a research report on Tuesday, September 1st. They issued a "market perform" rating for the company. Weiss Ratings restated a "buy (b)" rating on shares of Bank OZK in a research note on Friday, September 18th. Finally, Citigroup reaffirmed a "sell" rating on shares of Bank OZK in a report on Monday, August 17th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $55.57.

Bank OZK Price Performance

Shares of Bank OZK stock opened at $46.89 on Monday. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of 7.75 and a beta of 0.88. Bank OZK has a twelve month low of $42.37 and a twelve month high of $53.39. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.08. The business's 50 day simple moving average is $49.90 and its 200-day simple moving average is $48.81.

Bank OZK (NASDAQ:OZK - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.48 by $0.01. The business had revenue of $430.02 million during the quarter, compared to analyst estimates of $436.42 million. Bank OZK had a return on equity of 11.87% and a net margin of 24.95%.The business's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.47 EPS. Equities research analysts forecast that Bank OZK will post 5.82 earnings per share for the current year.

Bank OZK announced that its board has authorized a stock repurchase program on Monday, June 29th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Hedge Funds Weigh In On Bank OZK

Several large investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC bought a new stake in shares of Bank OZK during the 2nd quarter worth about $220,000. Tidal Investments LLC boosted its holdings in shares of Bank OZK by 5.0% in the second quarter. Tidal Investments LLC now owns 17,315 shares of the company's stock valued at $902,000 after acquiring an additional 825 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Bank OZK during the second quarter valued at approximately $4,293,000. NewEdge Advisors LLC increased its stake in shares of Bank OZK by 724.9% during the second quarter. NewEdge Advisors LLC now owns 5,304 shares of the company's stock valued at $276,000 after acquiring an additional 4,661 shares during the period. Finally, IFP Advisors Inc raised its holdings in Bank OZK by 1,307.5% during the second quarter. IFP Advisors Inc now owns 746 shares of the company's stock worth $39,000 after purchasing an additional 693 shares in the last quarter. Institutional investors and hedge funds own 86.18% of the company's stock.

Bank OZK Company Profile

Bank OZK is a regional financial institution headquartered in Little Rock, Arkansas. The company provides banking services to individuals, businesses and institutions through a network of banking offices concentrated in the Southeastern United States and select markets, including New York and California.

Its products and services include checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, commercial and industrial financing, treasury management and other business banking solutions.

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