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

Key Points

• Wall Street Zen upgraded Bank OZK from “sell” to “hold.” The broader analyst consensus is also “Hold,” with three Buy ratings, six Holds and one Sell, alongside an average price target of $56.38.
• Bank OZK reported quarterly EPS of $1.49, narrowly beating estimates of $1.48, while revenue of $430.02 million fell short of the $436.42 million consensus. Net margin was 24.95% and return on equity was 11.87%.
• The bank authorized a $200 million share buyback, allowing repurchases of up to 3.4% of outstanding shares. Its stock opened at $51.41, compared with a 12-month range of $42.37 to $53.66.

Bank OZK (NASDAQ:OZK - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

OZK has been the topic of several other research reports. 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. Wells Fargo & Company raised their target price on shares of Bank OZK from $50.00 to $52.00 and gave the company an "equal weight" rating in a research note on Monday, July 6th. TD Cowen lowered their target price on shares of Bank OZK from $53.00 to $52.00 and set a "hold" rating for the company in a report on Friday, July 24th. Morgan Stanley boosted their price target on Bank OZK from $54.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Monday, June 29th. Finally, UBS Group upped their price target on Bank OZK from $50.00 to $51.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 28th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $56.38.

Bank OZK Price Performance

OZK opened at $51.41 on Friday. The stock has a fifty day simple moving average of $50.68 and a two-hundred day simple moving average of $48.54. The company has a current ratio of 0.97, a quick ratio of 1.00 and a debt-to-equity ratio of 0.08. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 8.50 and a beta of 0.89. Bank OZK has a 12-month low of $42.37 and a 12-month high of $53.66.

Bank OZK (NASDAQ:OZK - Get Free Report) last announced its earnings results on Tuesday, July 21st. The company reported $1.49 EPS for the quarter, beating analysts' consensus estimates of $1.48 by $0.01. The firm had revenue of $430.02 million for the quarter, compared to analysts' expectations of $436.42 million. Bank OZK had a net margin of 24.95% and a return on equity of 11.87%. The company's quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.47 EPS. Research analysts predict that Bank OZK will post 5.88 earnings per share for the current fiscal year.

Bank OZK announced that its Board of Directors has approved a stock buyback plan on Monday, June 29th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. BOKF NA bought a new position in shares of Bank OZK in the third quarter worth approximately $27,000. V Square Quantitative Management LLC purchased a new position in Bank OZK in the 4th quarter worth approximately $25,000. Bayforest Capital Ltd raised its holdings in 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 acquiring an additional 384 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in Bank OZK in the 4th quarter worth approximately $36,000. Finally, Transamerica Financial Advisors LLC lifted its position in Bank OZK by 111.2% in the 4th quarter. Transamerica Financial Advisors LLC now owns 830 shares of the company's stock valued at $38,000 after acquiring an additional 437 shares in the last quarter. 86.18% of the stock is owned by hedge funds and other institutional investors.

About Bank OZK

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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