Bank OZK (NASDAQ:OZK) Rating Increased to Overweight at Stephens

Key Points

• Bank OZK was upgraded by Stephens from an "equal weight" to an "overweight" rating, with a new price target of $65.00, indicating a potential upside of 31.13% based on the current stock price.
• The company reported earnings of $1.58 per share for the last quarter, surpassing analysts' expectations of $1.51, alongside a revenue of $428.04 million.
• Institutional investors hold 86.18% of Bank OZK’s stock, with significant increases in holdings reported by major firms in the first quarter.

Bank OZK (NASDAQ:OZK - Get Free Report) was upgraded by stock analysts at Stephens from an "equal weight" rating to an "overweight" rating in a report released on Wednesday, MarketBeat.com reports. The firm currently has a $65.00 price target on the stock, up from their previous price target of $58.00. Stephens' target price would suggest a potential upside of 25.46% from the company's previous close.

Other equities research analysts have also recently issued research reports about the stock. Raymond James Financial upgraded shares of Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 target price on the stock in a report on Tuesday, July 8th. Keefe, Bruyette & Woods dropped their target price 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. Finally, Wells Fargo & Company raised their target price on shares of Bank OZK from $48.00 to $49.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $54.25.

Bank OZK Stock Down 0.8%

Shares of NASDAQ:OZK traded down $0.41 during trading on Wednesday, reaching $51.81. 168,513 shares of the stock traded hands, compared to its average volume of 1,172,978. Bank OZK has a 52-week low of $35.71 and a 52-week 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 $49.41 and a two-hundred day moving average of $46.34. The stock has a market cap of $5.89 billion, a P/E ratio of 8.40 and a beta of 0.86.

Bank OZK (NASDAQ:OZK - Get Free Report) last issued 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 net margin of 25.83% and a return on equity of 13.24%. The company had revenue of $428.04 million for the quarter, compared to analysts' expectations of $423.41 million. During the same quarter last year, the company posted $1.52 earnings per share. As a group, sell-side analysts expect that Bank OZK will post 6.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bank OZK

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. boosted its stake in Bank OZK by 4.8% during 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 during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings 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 valued at $5,639,000 after acquiring an additional 46,349 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings 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 valued at $48,993,000 after acquiring an additional 23,492 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings 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 valued at $287,000 after acquiring an additional 782 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Bank OZK by 5,021.2% in the first quarter. GAMMA Investing LLC now owns 243,668 shares of the company's stock valued at $10,587,000 after acquiring an additional 238,910 shares during the last quarter. Institutional investors and hedge funds own 86.18% of the company's stock.

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.