Bank OZK (NASDAQ:OZK) Stock Gets Price Target Boost from Keefe, Bruyette & Woods

Key Points

• Keefe, Bruyette & Woods raised Bank OZK’s price target from $52 to $54 while maintaining a “market perform” rating, implying 6.1% upside from the prior close.
• Analyst sentiment remains cautious: Bank OZK has an overall “Hold” consensus rating, with three Buy, six Hold, and two Sell ratings and an average price target of $55.14.
• Bank OZK reported quarterly EPS of $1.50, exceeding estimates of $1.43, though revenue of $391.48 million fell short of the $434.83 million consensus forecast.

Bank OZK (NASDAQ:OZK - Get Free Report) had its price target lifted by investment analysts at Keefe, Bruyette & Woods from $52.00 to $54.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a "market perform" rating on the stock. Keefe, Bruyette & Woods's price target suggests a potential upside of 6.10% from the company's previous close.

Several other brokerages have also recently commented on OZK. Raymond James Financial initiated coverage on shares of Bank OZK in a research report on Tuesday, September 1st. They issued a "market perform" rating on the stock. Zacks Research upgraded shares of Bank OZK from a "strong sell" rating to a "hold" rating in a research report on Friday, September 25th. Wells Fargo & Company lowered their price objective on shares of Bank OZK from $56.00 to $51.00 and set an "equal weight" rating on the stock in a research note on Tuesday, September 29th. TD Cowen dropped their target price on shares of Bank OZK from $52.00 to $50.00 and set a "hold" rating on the stock in a report on Monday, October 5th. Finally, Morgan Stanley increased their target price on shares of Bank OZK from $56.00 to $57.00 and gave the company an "underweight" rating in a research note on Monday, September 28th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $55.14.

Bank OZK Stock Performance

OZK stock traded down $0.42 during midday trading on Friday, reaching $50.89. The company had a trading volume of 190,091 shares, compared to its average volume of 1,304,570. The company has a quick ratio of 0.97, a current ratio of 0.98 and a debt-to-equity ratio of 0.21. The stock has a 50 day moving average price of $47.82 and a 200 day moving average price of $48.46. Bank OZK has a fifty-two week low of $42.37 and a fifty-two week high of $53.39. The firm has a market capitalization of $5.69 billion, a PE ratio of 8.54 and a beta of 0.92.

Bank OZK (NASDAQ:OZK - Get Free Report) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.07. Bank OZK had a net margin of 24.70% and a return on equity of 11.56%. The firm had revenue of $391.48 million for the quarter, compared to the consensus estimate of $434.83 million. During the same period last year, the firm posted $1.59 EPS. Analysts anticipate that Bank OZK will post 5.91 earnings per share for the current year.

Hedge Funds Weigh In On Bank OZK

Institutional investors and hedge funds have recently modified their holdings of the stock. Elevation Wealth Partners LLC raised its holdings in Bank OZK by 68.8% during the third quarter. Elevation Wealth Partners LLC now owns 660 shares of the company's stock valued at $30,000 after buying an additional 269 shares in the last quarter. IFP Advisors Inc lifted its holdings in Bank OZK by 1,307.5% in the 2nd quarter. IFP Advisors Inc now owns 746 shares of the company's stock worth $39,000 after purchasing an additional 693 shares during the last quarter. Root Financial Partners LLC acquired a new stake in Bank OZK in the 3rd quarter worth approximately $59,000. Miller Global Investments LLC acquired a new stake in Bank OZK in the 3rd quarter worth approximately $66,000. Finally, TD Waterhouse Canada Inc. boosted its position in Bank OZK by 2,064.3% during the third quarter. TD Waterhouse Canada Inc. now owns 1,818 shares of the company's stock worth $84,000 after purchasing an additional 1,734 shares during the period. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

Bank OZK Company Profile

Bank OZK NASDAQ: OZK is a regional financial institution headquartered in Little Rock, Arkansas. The company provides banking services to individuals, businesses and institutions, including deposit accounts, commercial and consumer loans, mortgage lending, treasury management and online and mobile banking.

Bank OZK also operates specialized lending businesses, including its Real Estate Specialties Group, which provides financing for commercial real estate development and other complex real estate projects.

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