Bank OZK (NASDAQ:OZK) Price Target Cut to $35.00 by Analysts at Wells Fargo & Company

Bank OZK (NASDAQ:OZKFree Report) had its target price reduced by Wells Fargo & Company from $39.00 to $35.00 in a report issued on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

Several other research analysts also recently commented on OZK. StockNews.com raised shares of Bank OZK from a sell rating to a hold rating in a research note on Thursday, May 30th. Citigroup lowered shares of Bank OZK from a buy rating to a sell rating and dropped their target price for the stock from $57.00 to $37.00 in a report on Wednesday, May 29th. Morgan Stanley restated an equal weight rating and set a $48.00 price target on shares of Bank OZK in a report on Monday, April 22nd. Keefe, Bruyette & Woods increased their price objective on Bank OZK from $45.00 to $47.00 and gave the stock a market perform rating in a report on Monday, April 22nd. Finally, Truist Financial cut their price objective on Bank OZK from $48.00 to $47.00 and set a hold rating on the stock in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $46.00.

Get Our Latest Report on OZK

Bank OZK Price Performance

OZK stock opened at $39.01 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $4.42 billion, a P/E ratio of 6.53 and a beta of 1.20. The firm’s fifty day moving average is $45.00 and its 200 day moving average is $45.16. Bank OZK has a 52 week low of $34.76 and a 52 week high of $52.36.

Bank OZK (NASDAQ:OZKGet Free Report) last released its earnings results on Thursday, April 18th. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.07. Bank OZK had a return on equity of 14.84% and a net margin of 28.54%. The company had revenue of $406.02 million during the quarter, compared to analyst estimates of $396.81 million. During the same quarter in the previous year, the company posted $1.41 EPS. Research analysts predict that Bank OZK will post 6.1 earnings per share for the current year.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 12th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 4.00%. This is a boost from Bank OZK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, April 11th. Bank OZK’s dividend payout ratio is presently 26.13%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of OZK. LRI Investments LLC bought a new stake in shares of Bank OZK in the 1st quarter worth approximately $29,000. Principal Securities Inc. purchased a new position in shares of Bank OZK during the fourth quarter valued at approximately $31,000. Bare Financial Services Inc purchased a new stake in Bank OZK in the fourth quarter worth approximately $36,000. SRS Capital Advisors Inc. raised its stake in Bank OZK by 303.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 929 shares of the company’s stock valued at $46,000 after buying an additional 699 shares during the last quarter. Finally, Pathway Financial Advisers LLC purchased a new position in shares of Bank OZK in the 1st quarter worth $60,000. 86.18% of the stock is owned by hedge funds and other institutional investors.

About Bank OZK

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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.

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