OZK Bank (NASDAQ: OZK) Receives Average Analyst ‘Buy’ Recommendation
OZK Bank (NASDAQ: OZK) has been given a consensus “Buy” recommendation from the nine rating companies that cover the company, MarketBeat reports. Two equity research analysts rated the stock with a conservation rating and three gave the company a buy rating. The average one-year target price among brokers who reported on the stock in the past year is $ 43.00.
OZK has been the subject of a number of research reports. Morgan Stanley raised its target price on Bank OZK shares from $ 47.00 to $ 50.00 and gave the stock an “equal weight” rating in a report released on Thursday, March 18. Zacks investment research downgraded OZK Bank shares from a “strong buy” rating to a “hold” rating and set a target price of $ 43.00 for the stock. in a report on Monday, May 3. Citigroup Inc. A Russell-based capital protected 3% minimum coupon raised its price target on OZK Bank shares from $ 37.00 to $ 40.00 in a research note on Wednesday April 14. Wells Fargo & Company downgraded Bank OZK shares from an “equal weight” rating to an “overweight” rating and raised its price target for the company from $ 45 to $ 55 in a research note on. Friday June 4. Finally, Citigroup raised its price target for OZK Bank shares from $ 37.00 to $ 40.00 in a research note on Wednesday, April 14.
A number of hedge funds and other institutional investors have recently changed their holdings to OZK. Norges Bank purchased a new position in Bank OZK during the fourth quarter valued at $ 48,039,000. Wasatch Advisors Inc. increased its holdings in Bank OZK by 22.5% in the first quarter. Wasatch Advisors Inc. now owns 8,191,308 shares of the company valued at $ 334,615,000 after purchasing an additional 1,502,901 shares during the last quarter. BlackRock Inc. increased its holdings in Bank OZK by 5.7% in the first quarter. BlackRock Inc. now owns 10,971,487 shares of the company valued at $ 448,186,000 after purchasing an additional 588,346 shares during the last quarter. SummerHaven Investment Management LLC acquired a new position in Bank OZK during the fourth quarter valued at $ 582,000. Finally, Schroder Investment Management Group increased its stake in Bank OZK by 323.0% during the first quarter. Schroder Investment Management Group now owns 284,119 shares of the company valued at $ 11,606,000 after purchasing an additional 216,953 shares during the last quarter. 81.41% of the shares are currently held by institutional investors and hedge funds.
OZK opened at $ 42.55 on Friday. OZK bank has a fifty-two week minimum of $ 20.10 and a fifty-two week maximum of $ 45.83. The company has a quick ratio of 0.96, a current ratio of 0.96, and a debt ratio of 0.25. The company has a market cap of $ 5.50 billion, a price-to-earnings ratio of 12.89 and a beta of 1.80. The stock’s 50-day simple moving average is $ 42.35.
OZK Bank (NASDAQ: OZK) last released its results on Wednesday, April 21. The company reported earnings per share of $ 1.14 for the quarter, beating the Zacks’ consensus estimate of $ 0.86 by $ 0.28. OZK Bank had a net margin of 36.25% and a return on equity of 10.00%. The company posted revenue of $ 266.75 million for the quarter, compared to analysts’ estimates of $ 258.20 million. During the same period of the previous year, the company posted $ 0.09 in EPS. As a group, research analysts expect Bank OZK to post an EPS of 3.84 for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 19. Investors of record on Monday, July 12 will receive a dividend of $ 0.285 per share. The ex-dividend date of this dividend is Friday July 9. This is a positive change from OZK Bank’s previous quarterly dividend of $ 0.28. This represents an annualized dividend of $ 1.14 and a return of 2.68%. Bank OZK’s dividend payout ratio is currently 49.56%.
About OZK Bank
Bank OZK provides various retail and commercial banking services. The company accepts a variety of deposit products, including interest-free chequing accounts, interest-bearing transactions, business sweep, savings, money market, individual retirement and other accounts, as well as term deposits. It also offers home loans, aimed at consumers and businesses, indirect loans for recreational and marine vehicles, commercial and industrial, government guaranteed, agricultural, small business, home builders and affordable housing; business aviation and subscription financing services; and mortgages and other loan products.
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