Bank OZK (NASDAQ:OZK) Hits New 12-Month High – Should You Buy?

Bank OZK (NASDAQ:OZK)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $51.52 and last traded at $51.05, with a volume of 96678 shares traded. The stock had previously closed at $50.93.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OZK. Stephens lifted their price objective on Bank OZK from $53.00 to $57.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Piper Sandler raised 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. UBS Group began coverage on Bank OZK in a report on Tuesday, December 17th. They set a “neutral” rating and a $51.00 target price on the stock. Truist Financial cut 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. Finally, Wells Fargo & Company upgraded Bank OZK from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $40.00 to $48.00 in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $50.00.

Bank OZK Price Performance

The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.16. The firm has a market cap of $5.78 billion, a P/E ratio of 8.30 and a beta of 1.20. The business has a fifty day moving average of $46.66 and a 200 day moving average of $44.59.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings data on Thursday, January 16th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.12. The firm had revenue of $412.34 million during the quarter, compared to the consensus estimate of $407.19 million. Bank OZK had a net margin of 25.83% and a return on equity of 13.90%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $1.50 earnings per share. On average, sell-side analysts anticipate that Bank OZK will post 5.97 earnings per share for the current year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 14th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.30%. This is an increase from Bank OZK’s previous quarterly dividend of $0.41. The ex-dividend date was Tuesday, January 14th. Bank OZK’s payout ratio is presently 27.36%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in OZK. Assetmark Inc. grew 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 last quarter. American National Bank & Trust bought a new stake in shares of Bank OZK during the third quarter worth $44,000. Capital Performance Advisors LLP bought a new stake in shares of Bank OZK during the third quarter worth $61,000. Venturi Wealth Management LLC grew its stake in shares of Bank OZK by 424.8% during the third quarter. Venturi Wealth Management LLC now owns 1,590 shares of the company’s stock worth $68,000 after buying an additional 1,287 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Bank OZK by 373.4% during the second quarter. Quarry LP now owns 1,690 shares of the company’s stock worth $69,000 after buying an additional 1,333 shares during the last quarter. 86.18% of the stock is currently owned by institutional investors and hedge funds.

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.