Bank OZK (NASDAQ:OZK) Coverage Initiated at TD Cowen

Key Points

• TD Cowen initiated coverage on Bank OZK with a "buy" rating and set a price target of $67.00, suggesting a potential upside of 29.56% from its previous close.
• Additional analysts have recently upgraded their ratings on Bank OZK, with Stephens increasing its target to $65.00 and Raymond James to $58.00.
• Bank OZK reported $1.58 earnings per share for the last quarter, exceeding expectations and reflecting a net margin of 25.83%.

Investment analysts at TD Cowen started coverage on shares of Bank OZK (NASDAQ:OZK - Get Free Report) in a research report issued on Thursday,Benzinga reports. The firm set a "buy" rating and a $67.00 price target on the stock. TD Cowen's price target indicates a potential upside of 29.56% from the company's previous close.

Several other analysts also recently commented on the company. Stephens upgraded Bank OZK from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $58.00 to $65.00 in a research note on Wednesday, August 20th. Raymond James Financial upgraded Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 price target for the company in a research note on Tuesday, July 8th. Wells Fargo & Company lifted their price target on Bank OZK from $48.00 to $49.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. Finally, Cowen began coverage on Bank OZK in a research note on Wednesday. They set a "buy" rating for the company. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $55.67.

Bank OZK Price Performance

Shares of NASDAQ OZK traded up $0.57 during mid-day trading on Thursday, hitting $51.71. 284,405 shares of the stock traded hands, compared to its average volume of 1,139,032. The company has a market cap of $5.88 billion, a PE ratio of 8.40 and a beta of 0.92. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 1.04. Bank OZK has a twelve month low of $35.71 and a twelve month high of $53.66. The firm has a 50 day simple moving average of $51.06 and a two-hundred day simple moving average of $46.87.

Bank OZK (NASDAQ:OZK - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.07. Bank OZK had a return on equity of 13.24% and a net margin of 25.83%.The business had revenue of $428.04 million during the quarter, compared to analyst estimates of $423.41 million. During the same period last year, the company earned $1.52 EPS. As a group, equities research analysts forecast that Bank OZK will post 6.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Bank OZK

Several hedge funds and other institutional investors have recently modified their holdings of OZK. Cambridge Investment Research Advisors Inc. raised its stake in Bank OZK by 4.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,693 shares of the company's stock worth $1,029,000 after buying an additional 1,086 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Bank OZK by 55.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 129,980 shares of the company's stock worth $5,639,000 after buying an additional 46,349 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Bank OZK by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 1,127,576 shares of the company's stock worth $48,993,000 after buying an additional 23,492 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Bank OZK by 13.4% in the first quarter. PNC Financial Services Group Inc. now owns 6,614 shares of the company's stock worth $287,000 after buying an additional 782 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Bank OZK by 5,021.2% in the first quarter. GAMMA Investing LLC now owns 243,668 shares of the company's stock worth $10,587,000 after buying an additional 238,910 shares in the last quarter. 86.18% of the stock is owned by institutional investors.

Bank OZK Company Profile

Bank OZK provides various retail and commercial banking services for individuals and businesses in the United States. The company offers deposit services, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time and reciprocal deposits.

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