Bank OZK (OZK) PT Raised to $51 at Stephens

Stephens analyst Matt Olney raised the price target on Bank OZK (NASDAQ: OZK) to $51.00 (from $48.00) while maintaining a Equal Weight rating.

The analyst commented: "OZK's in-line 3Q24 EPS and PPNR results were driven by slowing NII trends that were offset by higher fees and good cost controls. Credit trends remain noisy but were relatively stable (as compared to the previous quarter) and we remain optimistic that lower interest rates will provide a degree of relief for the classified RESG loans. Our EPS outlook is relatively unchanged as we expect near-term NIM/NII headwinds before stabilizing mid-year 2025 and improving back-half of the year. Our updated forecast assumes 2025 loan growth at the lower-end of management's growth guidance (mid to upper SD) as we think the growth hand-off (from RESG to CIB) will be challenging. We expect 2025 to be a "transition year", but anticipate a return to PPNR growth in 2026. Our rating is EW, our price target is $51 (was $48) and represents 8x our 2026 EPS forecasts and 1.15x our 12-month TBVPS forecast."

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