Bank OZK (NASDAQ:OZK) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Bank OZK has a consensus “Hold” rating from 10 analysts: one recommends selling, six advise holding, and three recommend buying. The average 12-month price target is $56.88 versus the stock’s $52.49 price.
• The bank reported quarterly EPS of $1.49, narrowly exceeding estimates of $1.48, while revenue of $430.02 million fell short of the $436.42 million consensus forecast. Analysts expect full-year EPS of $5.86.
• Bank OZK raised its quarterly dividend to $0.48, implying a 3.7% annual yield, and authorized a $200 million share-repurchase program covering up to 3.4% of outstanding shares.

Bank OZK (NASDAQ:OZK - Get Free Report) has been assigned an average recommendation of "Hold" from the ten ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $56.8750.

A number of research firms have recently commented on OZK. Wells Fargo & Company increased their target price on Bank OZK from $52.00 to $56.00 and gave the company an "equal weight" rating in a research report on Monday, August 10th. Piper Sandler restated an "overweight" rating and issued a $61.00 price target on shares of Bank OZK in a research report on Wednesday, July 22nd. Morgan Stanley upped their price target on shares of Bank OZK from $54.00 to $56.00 and gave the company an "equal weight" rating in a research note on Monday, June 29th. TD Cowen lowered their price objective on shares of Bank OZK from $53.00 to $52.00 and set a "hold" rating for the company in a research report on Friday, July 24th. Finally, Weiss Ratings raised shares of Bank OZK from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, June 23rd.

Hedge Funds Weigh In On Bank OZK

Several hedge funds have recently added to or reduced their stakes in the company. BOKF NA bought a new position in Bank OZK in the 3rd quarter valued at $27,000. Bayforest Capital Ltd lifted its position in shares of Bank OZK by 100.5% in the 4th quarter. Bayforest Capital Ltd now owns 766 shares of the company's stock worth $35,000 after purchasing an additional 384 shares during the period. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Bank OZK in the 4th quarter worth approximately $36,000. Transamerica Financial Advisors LLC lifted its stake in shares of Bank OZK by 111.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 830 shares of the company's stock worth $38,000 after purchasing an additional 437 shares during the last quarter. Finally, Atlas Capital Advisors Inc. purchased a new stake in shares of Bank OZK during the 4th quarter worth $47,000. 86.18% of the stock is currently owned by institutional investors.

Bank OZK Stock Up 0.5%

Shares of NASDAQ:OZK opened at $52.49 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.00 and a current ratio of 0.97. Bank OZK has a 1 year low of $42.37 and a 1 year high of $53.66. The stock has a market capitalization of $5.87 billion, a P/E ratio of 8.68 and a beta of 0.89. The stock has a 50-day simple moving average of $51.04 and a 200-day simple moving average of $48.70.

Bank OZK (NASDAQ:OZK - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.48 by $0.01. The firm had revenue of $430.02 million for the quarter, compared to analyst estimates of $436.42 million. Bank OZK had a net margin of 24.95% and a return on equity of 11.87%. Bank OZK's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.47 earnings per share. Equities analysts forecast that Bank OZK will post 5.86 earnings per share for the current year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Monday, July 13th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, July 13th. This is a positive change from Bank OZK's previous quarterly dividend of $0.47. Bank OZK's payout ratio is 31.74%.

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

Bank OZK Company Profile

Bank OZK, formerly known as Bank of the Ozarks, is a regional commercial bank headquartered in Little Rock, Arkansas. Established in 1903, the bank offers a full suite of banking products and services to both individual and corporate clients. Through a combination of organic growth and targeted acquisitions, Bank OZK has built a diversified lending portfolio and a strong deposit franchise.

The bank's core operations focus on commercial real estate lending, including acquisition, development and construction financing.

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