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

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

Several other research firms have also issued reports on OZK. StockNews.com raised shares of Bank OZK from a sell rating to a hold rating in a report on Thursday, May 30th. Keefe, Bruyette & Woods upped their price target on Bank OZK from $45.00 to $47.00 and gave the stock a market perform rating in a research note on Monday, April 22nd. Wells Fargo & Company dropped their price target on Bank OZK from $39.00 to $35.00 and set an underweight rating for the company in a research note on Thursday, June 6th. Stephens restated an equal weight rating and issued a $50.00 price target on shares of Bank OZK in a research note on Thursday, May 30th. Finally, Morgan Stanley restated an equal weight rating and issued a $48.00 price target on shares of Bank OZK in a research note on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Bank OZK has an average rating of Hold and an average price target of $45.14.

Bank OZK Price Performance

NASDAQ OZK opened at $43.76 on Monday. Bank OZK has a 52 week low of $34.76 and a 52 week high of $52.36. The firm has a market capitalization of $4.96 billion, a P/E ratio of 7.33 and a beta of 1.20. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.14. The company has a 50-day moving average price of $42.58 and a 200-day moving average price of $44.19.

Bank OZK (NASDAQ:OZK) last released its earnings results on Thursday, April 18th. The company reported $1.51 earnings per share (EPS) 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 analyst estimates of $396.81 million. Bank OZK had a net margin of 28.54% and a return on equity of 14.84%. During the same period in the prior year, the firm posted $1.41 EPS. Equities research analysts anticipate that Bank OZK will post 6.06 earnings per share for the current year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, July 12th will be given a dividend of $0.40 per share. This is an increase from Bank OZK’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date is Friday, July 12th. Bank OZK’s dividend payout ratio is currently 26.80%.

Institutional Trading of Bank OZK

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC raised its holdings in Bank OZK by 4.0% during the 1st quarter. Tidal Investments LLC now owns 5,491 shares of the company’s stock valued at $250,000 after buying an additional 210 shares during the period. Sowell Financial Services LLC increased its stake in Bank OZK by 2.3% in the fourth quarter. Sowell Financial Services LLC now owns 10,573 shares of the company’s stock worth $527,000 after purchasing an additional 236 shares during the period. Los Angeles Capital Management LLC increased its stake in Bank OZK by 2.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 11,374 shares of the company’s stock worth $567,000 after purchasing an additional 246 shares during the period. Beacon Pointe Advisors LLC increased its stake in Bank OZK by 4.1% in the fourth quarter. Beacon Pointe Advisors LLC now owns 6,247 shares of the company’s stock worth $311,000 after purchasing an additional 247 shares during the period. Finally, HB Wealth Management LLC increased its stake in Bank OZK by 3.9% in the first quarter. HB Wealth Management LLC now owns 6,607 shares of the company’s stock worth $300,000 after purchasing an additional 249 shares during the period. Hedge funds and other 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.