Bank OZK (NASDAQ:OZK) Price Target Lowered to $56.00 at TD Cowen

Bank OZK (NASDAQ:OZK) had its price objective reduced by analysts at TD Cowen from $61.00 to $56.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s target price points to a potential upside of 19.70% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Bank OZK in a research note on Thursday, October 30th. Wall Street Zen upgraded Bank OZK from a “sell” rating to a “hold” rating in a research note on Saturday. Morgan Stanley dropped their price objective on Bank OZK from $63.00 to $59.00 and set an “equal weight” rating on the stock in a report on Wednesday. Citigroup restated a “sell” rating on shares of Bank OZK in a research note on Monday. Finally, Zacks Research cut shares of Bank OZK from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $57.00.

Bank OZK Trading Down 1.4%

NASDAQ OZK traded down $0.69 on Wednesday, reaching $46.79. The stock had a trading volume of 350,446 shares, compared to its average volume of 990,461. The stock has a fifty day moving average price of $46.03 and a two-hundred day moving average price of $48.79. Bank OZK has a 12-month low of $35.71 and a 12-month high of $53.66. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 7.55 and a beta of 0.90.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings results on Thursday, October 16th. The company reported $1.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.07). Bank OZK had a return on equity of 13.00% and a net margin of 25.81%.The business had revenue of $449.94 million for the quarter, compared to analysts’ expectations of $447.93 million. During the same quarter last year, the company earned $1.55 earnings per share. As a group, sell-side analysts forecast that Bank OZK will post 6.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Wasatch Advisors LP boosted its stake in shares of Bank OZK by 34.9% in the third quarter. Wasatch Advisors LP now owns 7,437,646 shares of the company’s stock valued at $379,171,000 after buying an additional 1,924,387 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Bank OZK by 1.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,406,933 shares of the company’s stock valued at $207,390,000 after acquiring an additional 56,713 shares during the period. First Trust Advisors LP lifted its holdings in Bank OZK by 0.6% in the third quarter. First Trust Advisors LP now owns 2,808,166 shares of the company’s stock valued at $143,160,000 after acquiring an additional 17,427 shares during the period. American Century Companies Inc. boosted its position in shares of Bank OZK by 4.3% during the 3rd quarter. American Century Companies Inc. now owns 2,743,655 shares of the company’s stock worth $139,872,000 after purchasing an additional 112,048 shares in the last quarter. Finally, Van Berkom & Associates Inc. grew its stake in shares of Bank OZK by 0.7% during the 3rd quarter. Van Berkom & Associates Inc. now owns 1,818,447 shares of the company’s stock worth $92,704,000 after purchasing an additional 12,733 shares during the period. 86.18% of the stock is currently owned by institutional investors and hedge funds.

Bank OZK Company Profile

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.