Truist Financial Trims Bank OZK (NASDAQ:OZK) Target Price to $48.00

Bank OZK (NASDAQ:OZK) had its price objective cut by Truist Financial from $49.00 to $48.00 in a report issued on Friday morning, Benzinga reports. They currently have a hold rating on the stock.

Other research analysts have also issued reports about the company. Morgan Stanley increased their price objective on Bank OZK from $48.00 to $51.00 and gave the company an equal weight rating in a report on Monday, August 5th. Wells Fargo & Company cut their price target on shares of Bank OZK from $39.00 to $35.00 and set an underweight rating on the stock in a report on Thursday, June 6th. Raymond James cut shares of Bank OZK from an outperform rating to a market perform rating in a research note on Tuesday, September 17th. Citigroup lowered shares of Bank OZK from a buy rating to a sell rating and cut their price objective for the stock from $57.00 to $37.00 in a research note on Wednesday, May 29th. Finally, StockNews.com upgraded shares of Bank OZK from a sell rating to a hold rating in a research report on Thursday, July 18th. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $46.57.

Bank OZK Stock Down 2.8 %

OZK stock opened at $42.76 on Friday. The stock has a market capitalization of $4.85 billion, a PE ratio of 7.16 and a beta of 1.17. Bank OZK has a 52 week low of $34.76 and a 52 week high of $52.36. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.17. The firm has a 50 day moving average of $42.90 and a 200 day moving average of $43.16.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings data 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 business had revenue of $416.78 million during the quarter, compared to the consensus estimate of $414.39 million. During the same period in the previous year, the firm posted $1.47 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Sell-side analysts forecast that Bank OZK will post 6.01 earnings per share for the current year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 12th were paid a $0.40 dividend. This is a boost from Bank OZK’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 3.74%. The ex-dividend date was Friday, July 12th. Bank OZK’s payout ratio is currently 26.80%.

Institutional Trading of Bank OZK

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OZK. PSI Advisors LLC raised its position in shares of 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 acquiring an additional 628 shares during the period. LRI Investments LLC purchased a new position in shares of Bank OZK in the 1st quarter valued at about $29,000. Principal Securities Inc. acquired a new position in Bank OZK in the 4th quarter worth about $31,000. Versant Capital Management Inc boosted its position 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 purchasing an additional 791 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in Bank OZK in the second quarter valued at approximately $46,000. Institutional investors and hedge funds 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.