The Vanguard Group, Inc. recently announced the acquisition of new stake in Bank OZK (NASDAQ:OZK). The institutional investor has increased its shareholding in the Financial company by 0.07% to 11.93 million shares with purchase of 7834.0 shares. This fresh investment now brings its stake to 10.18% valued currently at $549.11 million. In addition, BlackRock Fund Advisors raised its holdings by 0.12 million to 9.53 million shares. And Dimensional Fund Advisors LP has lifted its position by 3.44% or 0.23 million shares – to 6.93 million shares.
With over 4.52 million Bank OZK (OZK) shares trading Friday and a closing price of $36.61 on the day, the dollar volume was approximately $165.65 million. The shares have shown a negative half year performance of -11.08% and its price on 03/10/23 lost nearly -3.51%. Currently, there are 128.71M common shares owned by the public and among those 121.07M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for OZK have a consensus price objective of $50.14. The analysts have set the share’s price value over the next 12 months at a high of $58.00 and a low of $40.00. The average price target is 26.98% above its recent price level and an upside to the estimated low will see the stock gain 8.48% over that period. But an upside of 36.88% will see the stock hit the forecast high price target while median target price for the stock is $51.00.
Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Bank OZK are SPDR S&P Dividend ETF, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market Index. SPDR S&P Dividend ETF owns 6.26 million shares of the company’s stock, all valued at over $288.13 million. The company sold 1693.0 shares recently to bring their total holdings to about 5.34% of the shares outstanding. iShares Core S&P Mid Cap ETF bought 7824.0 shares to see its total holdings expand to 3.46 million shares valued at over $159.04 million and representing 2.95% of the shares outstanding. Vanguard Total Stock Market Index bought 22307.0 shares to bring its total holdings to over 3.42 million shares at a value of $157.59 million. Vanguard Total Stock Market Index now owns shares totaling to 2.92% of the shares outstanding.
Shares of Bank OZK (NASDAQ: OZK) opened at $36.108, down -$1.83 from a prior closing price of $37.94. However, the script later moved the day high at 38.07, down -3.51%. The company’s stock has a 5-day price change of -16.91% and -13.45% over the past three months. OZK shares are trading -8.61% year to date (YTD), with the 12-month market performance down to -15.20% lower. It has a 12-month low price of $34.79 and touched a high of $49.52 over the same period. OZK has an average intraday trading volume of 940.78K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -19.13%, -16.51%, and -12.39% respectively.
Institutional ownership of Bank OZK (NASDAQ: OZK) shares accounts for 79.00% of the company’s 128.71M shares outstanding. Mutual fund holders own 32.53%, while other institutional holders and individual stakeholders account for 54.11% and 0.08% respectively.
It has a market capitalization of $4.88B and a beta (3y monthly) value of 1.42. The stock’s trailing 12-month PE ratio is 8.06, while the earnings-per-share (ttm) stands at $4.54. The company has a PEG of 0.67 and the debt-to-equity ratio at 0.25. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.27% over the week and 2.93% over the month.
Analysts forecast that Bank OZK (OZK) will achieve an EPS of $1.42 for the current quarter, $1.46 for the next quarter and $5.77 for 2024. The lowest estimate earnings-per-share for the quarter is $1.3 while analysts give the company a high EPS estimate of $1.48. Comparatively, EPS for the current quarter was $1.02 a year ago. Earnings per share for the fiscal year are expected to increase by 1.50%, and -0.17% over the next financial year. EPS should grow at an annualized rate of 12.00% over the next five years, compared to 3.90% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Bank OZK (OZK) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 6 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the OZK, a number of firms have released research notes about the stock. Morgan Stanley stated their Equal-Weight rating for the stock in a research note on December 05, 2022, with the firm’s price target at $48. Wells Fargo coverage for the Bank OZK (OZK) stock in a research note released on July 07, 2022 offered a Equal Weight rating with a price target of $42. Raymond James was of a view on July 07, 2022 that the stock is Mkt Perform, while Wells Fargo gave the stock Overweight rating on June 04, 2021, issuing a price target of $45- $55. Raymond James on their part issued Outperform rating on June 17, 2020.
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