Bank OZK (NASDAQ:OZK) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of Bank OZK (NASDAQ:OZKFree Report) from a hold rating to a sell rating in a report released on Wednesday.

OZK has been the subject of a number of other reports. Citigroup downgraded Bank OZK from a buy rating to a sell rating and cut their target price for the stock from $57.00 to $37.00 in a research note on Wednesday, May 29th. Wells Fargo & Company cut their target price on Bank OZK from $39.00 to $35.00 and set an underweight rating for the company in a research note on Thursday, June 6th. Stephens reaffirmed an equal weight rating and issued a $50.00 target price on shares of Bank OZK in a research note on Thursday, May 30th. Morgan Stanley reissued an equal weight rating and set a $48.00 price objective on shares of Bank OZK in a research report on Monday, April 22nd. Finally, Keefe, Bruyette & Woods raised their price objective on Bank OZK from $45.00 to $47.00 and gave the stock a market perform rating in a research report on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank OZK presently has an average rating of Hold and a consensus target price of $45.14.

Check Out Our Latest Research Report on Bank OZK

Bank OZK Stock Up 1.7 %

NASDAQ OZK opened at $41.75 on Wednesday. The business has a fifty day moving average price of $42.63 and a 200 day moving average price of $44.20. Bank OZK has a one year low of $34.76 and a one year high of $52.36. 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 company has a market cap of $4.74 billion, a P/E ratio of 6.99 and a beta of 1.20.

Bank OZK (NASDAQ:OZKGet Free Report) last posted its quarterly earnings data on Thursday, April 18th. The company reported $1.51 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 during the quarter, compared to the consensus estimate of $396.81 million. During the same period in the prior year, the company earned $1.41 EPS. Research analysts anticipate that Bank OZK will post 6.06 EPS for the current fiscal year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, July 12th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.83%. This is a boost from Bank OZK’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, July 12th. Bank OZK’s dividend payout ratio (DPR) is 26.80%.

Hedge Funds Weigh In On Bank OZK

A number of hedge funds and other institutional investors have recently bought and sold shares of OZK. Vanguard Group Inc. boosted its stake in shares of Bank OZK by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 12,028,779 shares of the company’s stock valued at $599,394,000 after buying an additional 502,005 shares during the period. Wellington Management Group LLP boosted its stake in shares of Bank OZK by 18.8% in the 4th quarter. Wellington Management Group LLP now owns 1,897,696 shares of the company’s stock valued at $94,562,000 after buying an additional 300,025 shares during the period. First Trust Advisors LP boosted its stake in shares of Bank OZK by 4.2% in the 4th quarter. First Trust Advisors LP now owns 1,279,876 shares of the company’s stock valued at $63,776,000 after buying an additional 51,379 shares during the period. Norges Bank purchased a new position in shares of Bank OZK in the 4th quarter valued at about $56,293,000. Finally, Captrust Financial Advisors boosted its stake in shares of Bank OZK by 4.8% in the 1st quarter. Captrust Financial Advisors now owns 721,011 shares of the company’s stock valued at $32,777,000 after buying an additional 32,813 shares during the period. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

Bank OZK Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Bank OZK (NASDAQ:OZK)

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