Bank OZK (NASDAQ:OZK) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Bank OZK (NASDAQ:OZK) have been assigned an average recommendation of “Hold” from the ten brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $56.25.

Several analysts have recently commented on the company. UBS Group began coverage on Bank OZK in a research note on Tuesday, April 7th. They issued a “neutral” rating and a $48.00 price objective for the company. Wall Street Zen raised Bank OZK from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Weiss Ratings upgraded Bank OZK from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, June 23rd. Morgan Stanley increased their price target on Bank OZK from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Finally, Wells Fargo & Company raised their price objective on Bank OZK from $50.00 to $52.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th.

Bank OZK Trading Down 1.1%

NASDAQ:OZK opened at $51.43 on Tuesday. Bank OZK has a one year low of $42.37 and a one year high of $53.66. The company has a market cap of $5.75 billion, a PE ratio of 8.38 and a beta of 0.89. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a 50-day moving average of $49.72 and a 200-day moving average of $48.18.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings results on Tuesday, April 21st. The company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.02). The company had revenue of $424.32 million for the quarter, compared to analyst estimates of $422.62 million. Bank OZK had a net margin of 25.27% and a return on equity of 12.32%. Bank OZK’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.47 EPS. As a group, equities research analysts expect that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Monday, July 13th were issued a $0.48 dividend. This is an increase from Bank OZK’s previous quarterly dividend of $0.47. This represents a $1.92 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Monday, July 13th. Bank OZK’s dividend payout ratio is currently 31.27%.

Bank OZK announced that its Board of Directors has approved a stock buyback plan on Monday, June 29th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in Bank OZK by 37.8% in the 1st quarter. Royal Bank of Canada now owns 41,257 shares of the company’s stock valued at $1,792,000 after buying an additional 11,310 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Bank OZK by 14.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,690 shares of the company’s stock worth $2,029,000 after buying an additional 5,717 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Bank OZK by 1.8% in the 1st quarter. Empowered Funds LLC now owns 60,037 shares of the company’s stock worth $2,609,000 after buying an additional 1,058 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Bank OZK by 8.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 349,749 shares of the company’s stock worth $15,197,000 after buying an additional 26,676 shares during the last quarter. Finally, Focus Partners Wealth grew its holdings in shares of Bank OZK by 11.0% in the first quarter. Focus Partners Wealth now owns 17,711 shares of the company’s stock valued at $770,000 after acquiring an additional 1,756 shares in the last quarter. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

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.