Bank OZK (NASDAQ:OZK) Rating Increased to Equal Weight at Wells Fargo & Company

Bank OZK (NASDAQ:OZK) was upgraded by equities research analysts at Wells Fargo & Company from an “underweight” rating to an “equal weight” rating in a research report issued on Tuesday,Benzinga reports. The firm currently has a $48.00 target price on the stock, up from their prior target price of $40.00. Wells Fargo & Company‘s price target would suggest a potential downside of 3.50% from the stock’s previous close.

A number of other research analysts have also weighed in on the stock. Stephens reaffirmed an “equal weight” rating and issued a $53.00 price objective on shares of Bank OZK in a research note on Friday. Truist Financial lowered their price objective on Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company in a research note on Monday, October 21st. UBS Group started coverage on Bank OZK in a research report on Tuesday, December 17th. They set a “neutral” rating and a $51.00 target price on the stock. Finally, Piper Sandler upped their price objective on shares of Bank OZK from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. One 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 stock presently has a consensus rating of “Hold” and a consensus target price of $49.50.

Bank OZK Trading Up 9.7 %

NASDAQ:OZK opened at $49.74 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $46.44 and a two-hundred day simple moving average of $44.31. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of 8.10 and a beta of 1.20. Bank OZK has a 12 month low of $37.43 and a 12 month high of $51.50.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings data on Thursday, January 16th. The company reported $1.56 EPS 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 firm had revenue of $412.34 million during the quarter, compared to analysts’ expectations of $407.19 million. During the same quarter last year, the firm posted $1.50 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. Analysts expect that Bank OZK will post 5.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of OZK. M&T Bank Corp boosted its stake in Bank OZK by 1.9% in the 3rd quarter. M&T Bank Corp now owns 13,432 shares of the company’s stock worth $578,000 after purchasing an additional 244 shares during the period. Pallas Capital Advisors LLC grew its position in Bank OZK by 3.7% during the fourth quarter. Pallas Capital Advisors LLC now owns 10,555 shares of the company’s stock valued at $470,000 after acquiring an additional 373 shares during the last quarter. Evergreen Capital Management LLC raised its position in Bank OZK by 8.3% in the 2nd quarter. Evergreen Capital Management LLC now owns 5,079 shares of the company’s stock worth $208,000 after purchasing an additional 388 shares during the period. Raymond James Trust N.A. raised its position in Bank OZK by 6.0% during the 3rd quarter. Raymond James Trust N.A. now owns 7,184 shares of the company’s stock valued at $309,000 after purchasing an additional 407 shares during the last quarter. Finally, Assetmark Inc. increased 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 valued at $42,000 after buying an additional 411 shares during the period. 86.18% of the stock is owned by institutional investors.

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.