Bank OZK (NASDAQ:OZK) Stock Rating Raised to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Bank OZK from “sell” to “hold,” while the broader analyst consensus is also “hold,” with three buy, five hold, and three sell ratings and an average price target of $55.43.
• Bank OZK shares opened at $46.89, below their 50-day moving average of $49.90. The bank recently reported quarterly EPS of $1.49, slightly above estimates, although revenue of $430.02 million missed expectations.
• The company authorized a $200 million share-repurchase plan, potentially buying back up to 3.4% of outstanding shares; institutional investors own approximately 86.18% of the stock.

Bank OZK (NASDAQ:OZK - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Sunday, Wall Street Zen reports.

OZK has been the subject of a number of other research reports. Piper Sandler reiterated an "overweight" rating and issued a $61.00 price target on shares of Bank OZK in a research note on Wednesday, July 22nd. UBS Group boosted their price target on Bank OZK from $50.00 to $51.00 and gave the company a "neutral" rating in a research note on Tuesday, July 28th. Morgan Stanley lowered shares of Bank OZK from an "equal weight" rating to an "underweight" rating and set a $56.00 target price on the stock. in a research report on Tuesday, September 8th. Raymond James Financial assumed coverage on Bank OZK in a report on Tuesday, September 1st. They set a "market perform" rating on the stock. Finally, Citigroup reiterated a "sell" rating on shares of Bank OZK in a research report on Monday, August 17th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, Bank OZK currently has an average rating of "Hold" and a consensus target price of $55.43.

Bank OZK Trading Up 0.6%

Shares of OZK stock opened at $46.89 on Friday. The business's 50 day moving average is $49.90 and its two-hundred day moving average is $48.78. Bank OZK has a 12 month low of $42.37 and a 12 month high of $53.39. The company has a market cap of $5.25 billion, a PE ratio of 7.75 and a beta of 0.88. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.08.

Bank OZK (NASDAQ:OZK - Get Free Report) last posted 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 company had revenue of $430.02 million for the quarter, compared to the consensus estimate of $436.42 million. Bank OZK had a net margin of 24.95% and a return on equity of 11.87%. The firm's revenue was up .5% compared to the same quarter last year. During the same period last year, the company earned $1.47 earnings per share. Equities analysts predict that Bank OZK will post 5.82 EPS for the current year.

Bank OZK announced that its Board of Directors has approved a stock repurchase plan on Monday, June 29th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of OZK. Dimensional Fund Advisors LP lifted its stake in shares of Bank OZK by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 6,625,660 shares of the company's stock valued at $304,045,000 after buying an additional 38,592 shares in the last quarter. First Trust Advisors LP increased its position in Bank OZK by 4.6% in the first quarter. First Trust Advisors LP now owns 3,036,101 shares of the company's stock worth $139,327,000 after buying an additional 134,490 shares during the last quarter. Geode Capital Management LLC raised its stake in Bank OZK by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 2,146,728 shares of the company's stock valued at $98,812,000 after acquiring an additional 29,024 shares during the period. Norges Bank bought a new stake in shares of Bank OZK in the fourth quarter valued at approximately $59,809,000. Finally, Bank of New York Mellon Corp bought a new stake in Bank OZK during the 2nd quarter valued at $63,410,000. 86.18% of the stock is owned by institutional investors.

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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