Wells Fargo & Company Issues Positive Forecast for Bank OZK (NASDAQ:OZK) Stock Price

Bank OZK (NASDAQ:OZK) had its price objective boosted by Wells Fargo & Company from $35.00 to $40.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

OZK has been the topic of several other research reports. Morgan Stanley increased their target price on Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Piper Sandler increased their target price on Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Truist Financial dropped their target price on Bank OZK from $48.00 to $46.00 and set a “hold” rating on the stock in a report on Monday, October 21st. Raymond James lowered Bank OZK from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 17th. Finally, Stephens increased their target price on Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $49.13.

Bank OZK Stock Down 1.1 %

Bank OZK stock opened at $48.32 on Tuesday. Bank OZK has a twelve month low of $37.43 and a twelve month high of $52.36. The stock’s fifty day simple moving average is $45.45 and its 200-day simple moving average is $43.29. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $5.48 billion, a P/E ratio of 7.95 and a beta of 1.18.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings data on Thursday, October 17th. The company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.02. Bank OZK had a return on equity of 14.15% and a net margin of 26.07%. The business had revenue of $423.00 million for the quarter, compared to analyst estimates of $419.08 million. As a group, equities analysts expect that Bank OZK will post 6.03 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 11th were issued a dividend of $0.41 per share. This is a positive change from Bank OZK’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.64 annualized dividend and a dividend yield of 3.39%. Bank OZK’s dividend payout ratio (DPR) is presently 26.97%.

Institutional Investors Weigh In On Bank OZK

Several hedge funds have recently made changes to their positions in OZK. PSI Advisors LLC boosted its stake in shares of Bank OZK by 20,933.3% during the second quarter. PSI Advisors LLC now owns 631 shares of the company’s stock worth $26,000 after buying an additional 628 shares during the period. Assetmark Inc. boosted its stake in shares of Bank OZK by 73.8% during the third quarter. Assetmark Inc. now owns 968 shares of the company’s stock worth $42,000 after buying an additional 411 shares during the period. American National Bank & Trust acquired a new stake in shares of Bank OZK during the third quarter worth about $44,000. Innealta Capital LLC acquired a new stake in shares of Bank OZK during the second quarter worth about $46,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in shares of Bank OZK during the second quarter worth about $49,000. Institutional investors and hedge funds 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.