Bank OZK (NASDAQ:OZK) PT Lowered to $47.00

Bank OZK (NASDAQ:OZK) had its target price cut by Truist Financial from $48.00 to $47.00 in a report issued on Monday morning, Benzinga reports. They currently have a hold rating on the stock.

Several other equities research analysts also recently commented on the company. UBS Group downgraded Bank OZK from a buy rating to a neutral rating in a report on Monday, January 8th. StockNews.com downgraded Bank OZK from a hold rating to a sell rating in a report on Friday, March 22nd. Raymond James upgraded Bank OZK from a market perform rating to an outperform rating and set a $58.00 price objective for the company in a report on Friday, January 5th. Citigroup decreased their price objective on Bank OZK from $62.00 to $57.00 and set a buy rating for the company in a report on Wednesday, March 13th. Finally, Wells Fargo & Company decreased their price objective on Bank OZK from $41.00 to $39.00 and set an underweight rating for the company in a report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $48.25.

Bank OZK Price Performance

Shares of OZK opened at $45.18 on Monday. Bank OZK has a 52-week low of $30.72 and a 52-week high of $52.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.01. The business’s 50 day moving average price is $43.42 and its two-hundred day moving average price is $43.33. The firm has a market cap of $5.11 billion, a PE ratio of 7.57 and a beta of 1.27.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings results on Thursday, April 18th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.07. Bank OZK had a return on equity of 14.84% and a net margin of 28.54%. The firm had revenue of $406.02 million for the quarter, compared to analyst estimates of $396.81 million. During the same period in the previous year, the firm earned $1.41 earnings per share. On average, equities analysts anticipate that Bank OZK will post 5.89 EPS for the current year.

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 12th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $1.56 annualized dividend and a yield of 3.45%. This is an increase from Bank OZK’s previous quarterly dividend of $0.38. Bank OZK’s dividend payout ratio is 26.13%.

Institutional Investors Weigh In On Bank OZK

Institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in Bank OZK in the fourth quarter worth $56,293,000. Jupiter Asset Management Ltd. boosted its position in Bank OZK by 423.9% in the third quarter. Jupiter Asset Management Ltd. now owns 1,085,368 shares of the company’s stock worth $40,235,000 after purchasing an additional 878,212 shares during the last quarter. Vanguard Group Inc. boosted its position in Bank OZK by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 12,028,779 shares of the company’s stock worth $599,394,000 after purchasing an additional 502,005 shares during the last quarter. Van Berkom & Associates Inc. boosted its position in Bank OZK by 18.1% in the third quarter. Van Berkom & Associates Inc. now owns 2,031,518 shares of the company’s stock worth $75,308,000 after purchasing an additional 311,293 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Bank OZK by 18.8% in the fourth quarter. Wellington Management Group LLP now owns 1,897,696 shares of the company’s stock worth $94,562,000 after purchasing an additional 300,025 shares during the last quarter. 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.