Bank OZK (NASDAQ:OZK) Sets New 12-Month High – Here’s What Happened

Shares of Bank OZK (NASDAQ:OZK) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $51.52 and last traded at $51.05, with a volume of 96678 shares changing hands. The stock had previously closed at $50.93.

Analysts Set New Price Targets

Several equities research analysts have issued reports on OZK shares. Stephens raised their price target on Bank OZK from $53.00 to $57.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. UBS Group began coverage on shares of Bank OZK in a research note on Tuesday, December 17th. They set a “neutral” rating and a $51.00 target price for the company. Truist Financial lowered their price target on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating on the stock in a report on Monday, October 21st. Wells Fargo & Company upgraded shares of Bank OZK from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $40.00 to $48.00 in a research report on Tuesday, January 21st. Finally, Piper Sandler upped their target price on Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $50.00.

Bank OZK Price Performance

The company has a 50 day moving average price of $46.78 and a 200-day moving average price of $44.70. The company has a market cap of $5.77 billion, a price-to-earnings ratio of 8.29 and a beta of 1.20. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.16.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings data on Thursday, January 16th. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.12. Bank OZK had a return on equity of 13.90% and a net margin of 25.83%. The business had revenue of $412.34 million during the quarter, compared to the consensus estimate of $407.19 million. During the same period in the prior year, the business posted $1.50 earnings per share. Bank OZK’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, equities research analysts predict that Bank OZK will post 5.97 EPS for the current fiscal year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Tuesday, January 14th were issued a $0.42 dividend. This is a positive change from Bank OZK’s previous quarterly dividend of $0.41. The ex-dividend date was Tuesday, January 14th. This represents a $1.68 annualized dividend and a yield of 3.30%. Bank OZK’s payout ratio is presently 27.36%.

Hedge Funds Weigh In On Bank OZK

Institutional investors have recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Bank OZK in the fourth quarter valued at $27,000. Assetmark Inc. lifted its position in shares of Bank OZK by 73.8% during the third quarter. Assetmark Inc. now owns 968 shares of the company’s stock valued at $42,000 after purchasing an additional 411 shares in the last quarter. American National Bank & Trust bought a new position in shares of Bank OZK during the 3rd quarter worth approximately $44,000. Capital Performance Advisors LLP purchased a new position in Bank OZK in the third quarter worth $61,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Bank OZK by 424.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,590 shares of the company’s stock worth $68,000 after buying an additional 1,287 shares during the last quarter. 86.18% of the stock is owned by institutional investors and hedge funds.

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.