Truist Financial Corp Boosts Stock Position in Bank OZK $OZK

Truist Financial Corp boosted its holdings in shares of Bank OZK (NASDAQ:OZK) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,494 shares of the company’s stock after acquiring an additional 1,088 shares during the quarter. Truist Financial Corp’s holdings in Bank OZK were worth $776,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its holdings in Bank OZK by 4.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,693 shares of the company’s stock valued at $1,029,000 after acquiring an additional 1,086 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Bank OZK by 55.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 129,980 shares of the company’s stock valued at $5,639,000 after acquiring an additional 46,349 shares during the period. Bank of New York Mellon Corp boosted its holdings in Bank OZK by 2.1% during the 1st quarter. Bank of New York Mellon Corp now owns 1,127,576 shares of the company’s stock valued at $48,993,000 after acquiring an additional 23,492 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Bank OZK by 13.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,614 shares of the company’s stock valued at $287,000 after acquiring an additional 782 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Bank OZK by 16.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 72,865 shares of the company’s stock valued at $3,166,000 after acquiring an additional 10,229 shares during the period. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Bank OZK from $49.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. National Bankshares set a $67.00 target price on Bank OZK in a research report on Wednesday, September 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Bank OZK in a research report on Wednesday, October 8th. Morgan Stanley lifted their target price on Bank OZK from $55.00 to $63.00 and gave the company an “underperform” rating in a research report on Monday, September 29th. Finally, TD Cowen began coverage on Bank OZK in a research report on Thursday, September 25th. They set a “buy” rating and a $67.00 target price for the company. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $57.80.

Bank OZK Trading Up 2.1%

Shares of NASDAQ OZK opened at $51.31 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $5.84 billion, a P/E ratio of 8.33 and a beta of 0.88. Bank OZK has a 1-year low of $35.71 and a 1-year high of $53.66. The business has a fifty day moving average price of $51.20 and a 200 day moving average price of $47.55.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings data on Thursday, July 17th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.07. The firm had revenue of $428.04 million during the quarter, compared to analysts’ expectations of $423.41 million. Bank OZK had a return on equity of 13.24% and a net margin of 25.83%.During the same period in the prior year, the business posted $1.52 EPS. Equities research analysts expect that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Tuesday, October 14th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $1.80 annualized dividend and a yield of 3.5%. This is an increase from Bank OZK’s previous quarterly dividend of $0.44. Bank OZK’s dividend payout ratio is currently 28.57%.

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.