TD Cowen Issues Pessimistic Forecast for Bank OZK (NASDAQ:OZK) Stock Price

Key Points

• TD Cowen lowered Bank OZK’s price target to $50 from $52 while maintaining a “hold” rating, implying about 7% upside from the stock’s $46.73 price. The broader analyst consensus is also “Hold,” with an average target of $54.57.
• Bank OZK’s latest quarterly results narrowly exceeded EPS estimates at $1.49 versus $1.48, though revenue of $430.02 million fell short of the $436.42 million consensus estimate.
• The bank authorized a $200 million share-repurchase program, allowing it to buy back up to 3.4% of outstanding shares; institutional investors and hedge funds own approximately 86.18% of the stock.

Bank OZK (NASDAQ:OZK - Get Free Report) had its price target lowered by analysts at TD Cowen from $52.00 to $50.00 in a research note issued on Monday, Benzinga reports. The firm presently has a "hold" rating on the stock. TD Cowen's price objective indicates a potential upside of 7.01% from the company's current price.

Other analysts also recently issued research reports about the stock. Raymond James Financial initiated coverage on shares of Bank OZK in a research report on Tuesday, September 1st. They issued a "market perform" rating for the company. Citigroup reissued a "sell" rating on shares of Bank OZK in a research report on Monday, August 17th. UBS Group upped 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. Weiss Ratings lowered shares of Bank OZK from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday. Finally, Morgan Stanley lifted their price target on shares of Bank OZK from $56.00 to $57.00 and gave the stock an "underweight" rating in a research note on Monday, September 28th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Bank OZK currently has an average rating of "Hold" and an average target price of $54.57.

Bank OZK Stock Up 0.0%

Shares of OZK traded up $0.02 during midday trading on Monday, reaching $46.73. 203,744 shares of the company were exchanged, compared to its average volume of 1,219,429. The stock has a 50-day moving average price of $49.47 and a 200-day moving average price of $48.90. The company has a market cap of $5.23 billion, a price-to-earnings ratio of 7.73 and a beta of 0.92. Bank OZK has a 1-year low of $42.37 and a 1-year 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.

Bank OZK (NASDAQ:OZK - Get Free Report) last posted its earnings results 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 company's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.47 earnings per share. Research analysts expect that Bank OZK will post 5.82 earnings per share for the current year.

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

Institutional Trading of Bank OZK

A number of hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc raised its stake in shares of Bank OZK by 1,307.5% in the 2nd quarter. IFP Advisors Inc now owns 746 shares of the company's stock valued at $39,000 after purchasing an additional 693 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Bank OZK by 218.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,365 shares of the company's stock worth $63,000 after purchasing an additional 937 shares in the last quarter. Miller Global Investments LLC acquired a new position in Bank OZK in the third quarter worth about $66,000. Nykredit A S bought a new stake in Bank OZK in the second quarter valued at about $97,000. Finally, EverSource Wealth Advisors LLC raised its stake in Bank OZK by 65.8% during the first quarter. EverSource Wealth Advisors LLC now owns 2,300 shares of the company's stock valued at $106,000 after buying an additional 913 shares in the last quarter. Institutional investors and hedge funds own 86.18% of the company's stock.

About Bank OZK

Bank OZK NASDAQ: OZK is a regional financial institution headquartered in Little Rock, Arkansas. The bank provides banking and financial services to individuals, businesses and institutions through a network of branches and digital banking channels.

Its products and services include checking and savings accounts, certificates of deposit, consumer and commercial loans, residential mortgages, treasury management, online and mobile banking, and wealth management. Bank OZK also provides specialized lending through its Real Estate Specialties Group, which focuses on commercial real estate financing for projects in markets across the United States.

The company traces its origins to 1903, when it was founded as a community bank in Jasper, Arkansas.

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