Bank OZK (NASDAQ:OZK) Price Target Cut to $48.00

Bank OZK (NASDAQ:OZK) had its price objective trimmed by Truist Financial from $49.00 to $48.00 in a report published on Friday morning, Benzinga reports. The firm currently has a hold rating on the stock.

A number of other research firms have also commented on OZK. Wells Fargo & Company dropped their price target 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 reduced their target price for the company from $57.00 to $37.00 in a research note on Wednesday, May 29th. Raymond James downgraded shares of Bank OZK from an outperform rating to a market perform rating in a research note on Tuesday, September 17th. StockNews.com upgraded shares of Bank OZK from a sell rating to a hold rating in a research note on Thursday, July 18th. Finally, Stephens restated an equal weight rating and issued a $50.00 target price on shares of Bank OZK in a research note on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $46.57.

Bank OZK Stock Performance

Shares of OZK opened at $42.28 on Friday. The firm has a 50-day moving average price of $42.86 and a 200 day moving average price of $43.14. The firm has a market capitalization of $4.80 billion, a PE ratio of 7.08 and a beta of 1.17. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.17. Bank OZK has a 52-week low of $34.76 and a 52-week high of $52.36.

Bank OZK (NASDAQ:OZK) last announced its earnings results on Wednesday, July 17th. The company reported $1.52 EPS for the quarter, hitting the consensus estimate of $1.52. Bank OZK had a net margin of 27.04% and a return on equity of 14.50%. The company had revenue of $416.78 million during the quarter, compared to analysts’ expectations of $414.39 million. During the same period last year, the company posted $1.47 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, sell-side analysts anticipate that Bank OZK will post 6.01 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 12th were given a $0.40 dividend. The ex-dividend date was Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.78%. 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%.

Hedge Funds Weigh In On Bank OZK

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. PSI Advisors LLC increased its holdings in shares of Bank OZK by 20,933.3% during the second quarter. PSI Advisors LLC now owns 631 shares of the company’s stock valued at $26,000 after acquiring an additional 628 shares in the last quarter. LRI Investments LLC bought a new stake in Bank OZK during the first quarter worth $29,000. Principal Securities Inc. bought a new stake in Bank OZK during the fourth quarter worth $31,000. Versant Capital Management Inc grew its holdings in Bank OZK by 423.0% during the second quarter. Versant Capital Management Inc now owns 978 shares of the company’s stock worth $40,000 after buying an additional 791 shares in the last quarter. Finally, Innealta Capital LLC bought a new stake in Bank OZK during the second quarter worth $46,000. 86.18% of the stock is owned by institutional investors and hedge funds.

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.