Bank OZK (NASDAQ:OZK) Price Target Lowered to $47.00 at Truist Financial

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

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

Bank OZK Stock Up 0.5 %

OZK stock opened at $45.18 on Monday. The company has a market cap of $5.11 billion, a P/E ratio of 7.57 and a beta of 1.27. Bank OZK has a 52 week low of $30.72 and a 52 week high of $52.36. The company’s 50-day moving average price is $43.42 and its 200 day moving average price is $43.33. The company has a current ratio of 1.01, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14.

Bank OZK (NASDAQ:OZK) last announced its earnings results on Thursday, April 18th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.07. The company had revenue of $406.02 million during the quarter, compared to analysts’ expectations of $396.81 million. Bank OZK had a net margin of 28.54% and a return on equity of 14.84%. During the same quarter in the previous year, the business posted $1.41 earnings per share. On average, research analysts expect that Bank OZK will post 5.89 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Bank OZK by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 12,028,779 shares of the company’s stock valued at $599,394,000 after acquiring an additional 502,005 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Bank OZK by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,994,821 shares of the company’s stock valued at $111,018,000 after acquiring an additional 35,215 shares in the last quarter. Van Berkom & Associates Inc. raised its holdings 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 valued at $75,308,000 after acquiring an additional 311,293 shares in the last quarter. Wellington Management Group LLP raised its holdings 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 valued at $94,562,000 after acquiring an additional 300,025 shares in the last quarter. Finally, Copeland Capital Management LLC raised its holdings in Bank OZK by 0.4% in the third quarter. Copeland Capital Management LLC now owns 1,858,468 shares of the company’s stock valued at $68,893,000 after acquiring an additional 7,039 shares in the last quarter. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

Bank OZK Company Profile

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.