Bank OZK (NASDAQ:OZK) PT Lowered to $41.00 at Truist Financial

Bank OZK (NASDAQ:OZK) had its price target decreased by Truist Financial from $47.00 to $41.00 in a research note released on Monday, Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other equities research analysts have also recently issued reports on the company. Citigroup cut Bank OZK from a buy rating to a sell rating and decreased their price objective for the stock from $57.00 to $37.00 in a report on Wednesday, May 29th. Wells Fargo & Company decreased their price objective on Bank OZK from $39.00 to $35.00 and set an underweight rating on the stock in a report on Thursday, June 6th. Morgan Stanley restated an equal weight rating and set a $48.00 price objective on shares of Bank OZK in a report on Monday, April 22nd. Stephens restated an equal weight rating and set a $50.00 price objective on shares of Bank OZK in a report on Thursday, May 30th. 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 report on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $45.14.

Bank OZK Stock Performance

Bank OZK stock opened at $43.76 on Monday. 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 stock has a fifty day moving average of $42.58 and a two-hundred day moving average of $44.19. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 7.33 and a beta of 1.20. Bank OZK has a fifty-two week low of $34.76 and a fifty-two week high of $52.36.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings results on Thursday, April 18th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.07. The company had revenue of $406.02 million during the quarter, compared to the consensus estimate of $396.81 million. Bank OZK had a return on equity of 14.84% and a net margin of 28.54%. During the same quarter last year, the business posted $1.41 earnings per share. On average, 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 $0.40 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a yield of 3.66%. This is a boost from Bank OZK’s previous quarterly dividend of $0.39. Bank OZK’s dividend payout ratio (DPR) is presently 26.80%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OZK. LRI Investments LLC acquired a new position in shares of Bank OZK during the first quarter worth about $29,000. Principal Securities Inc. purchased a new stake in shares of Bank OZK during the fourth quarter worth about $31,000. Bare Financial Services Inc bought a new stake in Bank OZK in the fourth quarter valued at about $36,000. SRS Capital Advisors Inc. raised its stake in Bank OZK by 303.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 929 shares of the company’s stock valued at $46,000 after buying an additional 699 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Bank OZK by 423.0% during the 2nd quarter. Versant Capital Management Inc now owns 978 shares of the company’s stock worth $40,000 after buying an additional 791 shares during the last quarter. Institutional investors and hedge funds 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.