Piper Sandler Boosts Bank OZK (NASDAQ:OZK) Price Target to $63.00

Bank OZK (NASDAQ:OZK) had its price target upped by Piper Sandler from $58.00 to $63.00 in a research report released on Friday, Marketbeat Ratings reports. Piper Sandler currently has an overweight rating on the stock.

Other research analysts also recently issued research reports about the company. Stephens reiterated an “equal weight” rating and issued a $50.00 price objective on shares of Bank OZK in a report on Thursday, July 18th. Raymond James cut shares of Bank OZK from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. Morgan Stanley increased their price objective on Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Truist Financial dropped their price target on Bank OZK from $49.00 to $48.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Finally, StockNews.com raised shares of Bank OZK from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $48.50.

Bank OZK Stock Down 3.8 %

OZK opened at $42.97 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.17. The stock has a market cap of $4.87 billion, a PE ratio of 7.20 and a beta of 1.17. The business’s fifty day simple moving average is $42.25 and its 200 day simple moving average is $43.00. Bank OZK has a 52 week low of $34.76 and a 52 week high of $52.36.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 11th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.82%. This is a positive change from Bank OZK’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, October 11th. Bank OZK’s dividend payout ratio is 27.47%.

Hedge Funds Weigh In On Bank OZK

Several large investors have recently added to or reduced their stakes in OZK. Vest Financial LLC grew its position in shares of Bank OZK by 22.7% during the third quarter. Vest Financial LLC now owns 34,804 shares of the company’s stock worth $1,496,000 after purchasing an additional 6,440 shares in the last quarter. Raymond James & Associates raised its position in shares of Bank OZK by 4.0% during the third quarter. Raymond James & Associates now owns 246,234 shares of the company’s stock valued at $10,586,000 after buying an additional 9,385 shares during the last quarter. Capital Investment Advisors LLC purchased a new position in shares of Bank OZK in the third quarter worth $461,000. Cardinal Capital Management lifted its holdings in shares of Bank OZK by 11.1% in the third quarter. Cardinal Capital Management now owns 45,714 shares of the company’s stock worth $1,965,000 after buying an additional 4,579 shares in the last quarter. Finally, Cornerstone Wealth Management LLC bought a new position in shares of Bank OZK during the third quarter worth $219,000. Hedge funds and other institutional investors own 86.18% of the company’s stock.

About Bank OZK

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.