Bank OZK (NASDAQ:OZK) Receives Consensus Rating of “Hold” from Analysts

Shares of Bank OZK (NASDAQ:OZK) have been given an average rating of “Hold” by the ten ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $56.00.

OZK has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price objective on shares of Bank OZK from $50.00 to $52.00 and gave the company an “equal weight” rating in a research report on Monday, July 6th. Morgan Stanley lifted their price objective on shares of Bank OZK from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Piper Sandler reiterated an “overweight” rating and set a $61.00 target price on shares of Bank OZK in a research note on Wednesday. Wall Street Zen lowered Bank OZK from a “hold” rating to a “sell” rating in a report on Saturday. Finally, UBS Group initiated coverage on Bank OZK in a report on Tuesday, April 7th. They issued a “neutral” rating and a $48.00 target price on the stock.

Bank OZK Stock Performance

Shares of OZK opened at $50.33 on Tuesday. 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 $5.63 billion, a PE ratio of 8.32 and a beta of 0.89. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.00 and a current ratio of 0.97. The stock has a 50-day simple moving average of $50.01 and a 200-day simple moving average of $48.28.

Bank OZK (NASDAQ:OZK) last released its earnings results on Tuesday, July 21st. The company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates 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%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.47 earnings per share. On average, analysts predict that Bank OZK will post 5.94 earnings per share for the current fiscal year.

Bank OZK announced that its Board of Directors has authorized a stock repurchase program on Monday, June 29th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Stockholders 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 3.8%. The ex-dividend date was Monday, July 13th. This is an increase from Bank OZK’s previous quarterly dividend of $0.47. Bank OZK’s dividend payout ratio (DPR) is currently 31.74%.

Hedge Funds Weigh In On Bank OZK

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in Bank OZK by 17.0% in the second quarter. GAMMA Investing LLC now owns 6,150 shares of the company’s stock valued at $320,000 after purchasing an additional 895 shares during the last quarter. Bank of America Corp DE raised its holdings in Bank OZK by 33.0% during the first quarter. Bank of America Corp DE now owns 774,253 shares of the company’s stock worth $35,530,000 after purchasing an additional 192,237 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Bank OZK by 65.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,300 shares of the company’s stock worth $106,000 after buying an additional 913 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of Bank OZK by 31.4% during the 1st quarter. California State Teachers Retirement System now owns 133,186 shares of the company’s stock worth $6,112,000 after buying an additional 31,831 shares during the last quarter. Finally, Readystate Asset Management LP acquired a new position in shares of Bank OZK in the 1st quarter valued at $755,000. 86.18% of the stock is owned by institutional investors and hedge funds.

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.