Truist Financial Lowers Bank OZK (NASDAQ:OZK) Price Target to $46.00

Bank OZK (NASDAQ:OZK) had its price target reduced by Truist Financial from $48.00 to $46.00 in a research report sent to investors on Monday morning, Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other research analysts have also commented on the stock. StockNews.com raised shares of Bank OZK from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Piper Sandler lifted their target price on Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Raymond James cut Bank OZK from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. Morgan Stanley boosted their price objective on Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Finally, Stephens restated an “equal weight” rating and set a $50.00 price objective 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, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $48.50.

Bank OZK Stock Performance

Shares of OZK opened at $44.39 on Monday. The stock has a market capitalization of $5.04 billion, a PE ratio of 7.30 and a beta of 1.17. The business’s fifty day moving average price is $42.45 and its 200 day moving average price is $43.01. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. Bank OZK has a 12-month low of $34.76 and a 12-month high of $52.36.

Bank OZK Increases Dividend

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

Institutional Trading of Bank OZK

Institutional investors have recently made changes to their positions in the stock. PSI Advisors LLC lifted its position in Bank OZK by 20,933.3% in the second quarter. PSI Advisors LLC now owns 631 shares of the company’s stock worth $26,000 after purchasing an additional 628 shares during the period. LRI Investments LLC acquired a new stake in shares of Bank OZK in the first quarter valued at $29,000. Versant Capital Management Inc boosted its stake in Bank OZK by 423.0% during the second quarter. Versant Capital Management Inc now owns 978 shares of the company’s stock valued at $40,000 after buying an additional 791 shares in the last quarter. American National Bank & Trust acquired a new position in Bank OZK during the third quarter worth about $44,000. Finally, Innealta Capital LLC acquired a new position in Bank OZK during the second quarter worth about $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.