Bank OZK (NASDAQ:OZK) Cut to Market Perform at Raymond James

Raymond James cut shares of Bank OZK (NASDAQ:OZK) from an outperform rating to a market perform rating in a research note published on Tuesday morning, Marketbeat Ratings reports.

Several other brokerages also recently commented on OZK. Truist Financial boosted their price objective on Bank OZK from $41.00 to $49.00 and gave the company a hold rating in a research report on Monday, July 22nd. StockNews.com upgraded Bank OZK from a sell rating to a hold rating in a research note on Thursday, July 18th. Wells Fargo & Company reduced their price objective on shares of Bank OZK from $39.00 to $35.00 and set an underweight rating on the stock in a research report on Thursday, June 6th. Citigroup downgraded shares of Bank OZK from a buy rating to a sell rating and lowered their target price for the stock from $57.00 to $37.00 in a report on Wednesday, May 29th. Finally, Morgan Stanley raised their target price on shares of Bank OZK from $48.00 to $51.00 and gave the company an equal weight rating in a research note on Monday, August 5th. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $46.71.

Bank OZK Price Performance

NASDAQ OZK opened at $43.97 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.17. Bank OZK has a 12 month low of $34.76 and a 12 month high of $52.36. The stock has a market cap of $4.99 billion, a price-to-earnings ratio of 7.37 and a beta of 1.17. The company’s 50 day moving average is $42.90 and its two-hundred day moving average is $43.17.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $1.52 EPS for the quarter, meeting the consensus estimate of $1.52. Bank OZK had a net margin of 27.04% and a return on equity of 14.50%. The firm had revenue of $416.78 million for the quarter, compared to the consensus estimate of $414.39 million. During the same period last year, the firm earned $1.47 EPS. The company’s revenue was up 7.2% on a year-over-year basis. As a group, research analysts anticipate that Bank OZK will post 6.01 earnings per share for the current year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 12th were paid a dividend of $0.40 per share. This is an increase from Bank OZK’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a yield of 3.64%. Bank OZK’s dividend payout ratio is presently 26.80%.

Hedge Funds Weigh In On Bank OZK

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its holdings in shares of Bank OZK by 136.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 359,814 shares of the company’s stock worth $17,930,000 after purchasing an additional 207,341 shares during the period. Pinebridge Investments L.P. increased its position in Bank OZK by 77.3% during the fourth quarter. Pinebridge Investments L.P. now owns 188,600 shares of the company’s stock valued at $9,397,000 after acquiring an additional 82,233 shares during the last quarter. M&G Plc purchased a new stake in shares of Bank OZK in the first quarter valued at $8,437,000. State Board of Administration of Florida Retirement System lifted its holdings in shares of Bank OZK by 27.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 140,492 shares of the company’s stock worth $6,387,000 after acquiring an additional 29,993 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Bank OZK in the 2nd quarter worth about $873,000. 86.18% of the stock is owned by hedge funds and other institutional investors.

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.