Brokerages Set Bank OZK (NASDAQ:OZK) Price Target at $52.88

Key Points

• Bank OZK has received a consensus rating of "Hold" from eight research firms, with six analysts recommending a hold and two issuing buy ratings, and an average 1-year price target of $52.8750.
• The bank recently increased its quarterly dividend to $0.44, signaling a positive return for investors, and the current yield stands at 3.7%.
• In its latest earnings report, Bank OZK reported $1.58 EPS, exceeding expectations and indicating a strong financial performance with revenue of $428.04 million.

Shares of Bank OZK (NASDAQ:OZK - Get Free Report) have been given a consensus rating of "Hold" by the eight brokerages that are currently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $52.8750.

OZK has been the topic of several analyst reports. Keefe, Bruyette & Woods cut their price target on shares of Bank OZK from $50.00 to $48.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Wells Fargo & Company upped their target price on Bank OZK from $48.00 to $49.00 and gave the company an "equal weight" rating in a report on Monday, July 21st. Raymond James Financial raised Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 price target for the company in a research report on Tuesday, July 8th. Finally, Stephens cut their price objective on Bank OZK from $59.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st.

Bank OZK Stock Up 0.9%

Shares of Bank OZK stock traded up $0.41 on Tuesday, hitting $47.81. The company had a trading volume of 252,101 shares, compared to its average volume of 1,200,622. Bank OZK has a 1 year low of $35.71 and a 1 year high of $53.64. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.02 and a current ratio of 1.04. The stock has a 50 day moving average of $48.41 and a 200-day moving average of $46.50. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of 7.75 and a beta of 0.86.

Bank OZK (NASDAQ:OZK - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The company reported $1.58 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $423.41 million. During the same period last year, the business earned $1.52 EPS. As a group, sell-side analysts forecast that Bank OZK will post 6.02 earnings per share for the current year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Friday, July 11th were paid a $0.44 dividend. The ex-dividend date was Friday, July 11th. This is a boost from Bank OZK's previous quarterly dividend of $0.43. This represents a $1.76 annualized dividend and a dividend yield of 3.7%. Bank OZK's dividend payout ratio is presently 28.57%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Hantz Financial Services Inc. lifted its holdings in Bank OZK by 58.2% during the second quarter. Hantz Financial Services Inc. now owns 590 shares of the company's stock valued at $28,000 after purchasing an additional 217 shares during the last quarter. CX Institutional bought a new stake in shares of Bank OZK in the first quarter valued at approximately $30,000. Summit Securities Group LLC purchased a new stake in shares of Bank OZK during the 1st quarter valued at approximately $32,000. Atlantic Union Bankshares Corp purchased a new position in Bank OZK in the 2nd quarter valued at approximately $44,000. Finally, Bruce G. Allen Investments LLC raised its holdings in Bank OZK by 4,828.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 1,035 shares of the company's stock valued at $45,000 after acquiring an additional 1,014 shares during the period. Hedge funds and other institutional investors own 86.18% of the company's stock.

About Bank OZK

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.