Bank OZK (NASDAQ:OZK) PT Lowered to $46.00

Bank OZK (NASDAQ:OZK) had its price target trimmed by Truist Financial from $48.00 to $46.00 in a research note released on Monday, Benzinga reports. The brokerage currently has a hold rating on the stock.

OZK has been the topic of several other research reports. Raymond James downgraded Bank OZK from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 17th. Morgan Stanley lifted their price target on Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. StockNews.com upgraded shares of Bank OZK from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Stephens reaffirmed an “equal weight” rating and set a $50.00 price target on shares of Bank OZK in a research note on Thursday, July 18th. Finally, Piper Sandler raised their price target on shares of Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank OZK currently has an average rating of “Hold” and an average target price of $48.50.

Bank OZK Stock Performance

OZK opened at $44.39 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12. The firm has a market cap of $5.04 billion, a PE ratio of 7.30 and a beta of 1.17. The business has a fifty day simple moving average of $42.45 and a 200-day simple moving average of $43.01. Bank OZK has a fifty-two week low of $34.76 and a fifty-two week high of $52.36.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 11th were given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.69%. This is a boost from Bank OZK’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, October 11th. Bank OZK’s dividend payout ratio is currently 26.97%.

Hedge Funds Weigh In On Bank OZK

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its holdings in shares of Bank OZK by 136.0% during 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. M&G Plc bought a new position in Bank OZK during the first quarter valued at about $8,437,000. State Board of Administration of Florida Retirement System raised its holdings in 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 valued at $6,387,000 after acquiring an additional 29,993 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Bank OZK in the 2nd quarter worth approximately $873,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Bank OZK by 211.3% during the 1st quarter. BNP Paribas Financial Markets now owns 61,181 shares of the company’s stock worth $2,781,000 after purchasing an additional 41,527 shares in the last quarter. Institutional investors 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.