Wells Fargo & Company Forecasts Strong Price Appreciation for Bank OZK (NASDAQ:OZK) Stock

Bank OZK (NASDAQ:OZK) had its target price hoisted by stock analysts at Wells Fargo & Company from $48.00 to $50.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 8.96% from the company’s previous close.

A number of other research firms also recently issued reports on OZK. Wall Street Zen raised Bank OZK from a “sell” rating to a “hold” rating in a research report on Saturday, January 3rd. Citigroup restated a “sell” rating on shares of Bank OZK in a report on Monday, January 5th. Morgan Stanley lifted their price objective on Bank OZK from $57.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, March 2nd. TD Cowen decreased their target price on Bank OZK from $56.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, January 22nd. Finally, UBS Group reissued a “neutral” rating and set a $51.00 target price on shares of Bank OZK in a research report on Tuesday, January 6th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $57.22.

Bank OZK Stock Up 2.5%

Shares of OZK opened at $45.89 on Monday. The firm has a market cap of $5.13 billion, a PE ratio of 7.44 and a beta of 0.93. The company’s fifty day moving average is $47.03 and its two-hundred day moving average is $47.37. Bank OZK has a fifty-two week low of $35.71 and a fifty-two week high of $53.66. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.08.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings data on Tuesday, January 20th. The company reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.03). The firm had revenue of $436.29 million for the quarter, compared to analyst estimates of $434.68 million. Bank OZK had a return on equity of 12.65% and a net margin of 25.50%.During the same quarter in the previous year, the company earned $1.56 earnings per share. Analysts forecast that Bank OZK will post 6.02 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new position in Bank OZK during the 4th quarter worth approximately $25,000. Root Financial Partners LLC purchased a new position in Bank OZK in the 3rd quarter worth approximately $27,000. BOKF NA acquired a new stake in Bank OZK in the third quarter valued at approximately $27,000. Highline Wealth Partners LLC acquired a new stake in Bank OZK in the third quarter valued at approximately $28,000. Finally, True Wealth Design LLC raised its stake in shares of Bank OZK by 147.0% during the third quarter. True Wealth Design LLC now owns 568 shares of the company’s stock valued at $29,000 after purchasing an additional 338 shares during the period. Institutional investors and hedge funds own 86.18% of the company’s stock.

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.