Bank OZK (NASDAQ:OZK) Given New $47.00 Price Target at Truist Financial

Bank OZK (NASDAQ:OZK) had its price target cut by Truist Financial from $48.00 to $47.00 in a research note released on Monday, Benzinga reports. They currently have a hold rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. Wells Fargo & Company lowered their price objective on Bank OZK from $41.00 to $39.00 and set an underweight rating on the stock in a research note on Thursday, February 1st. StockNews.com cut Bank OZK from a hold rating to a sell rating in a research note on Friday, March 22nd. UBS Group cut Bank OZK from a buy rating to a neutral rating in a research note on Monday, January 8th. Raymond James upgraded Bank OZK from a market perform rating to an outperform rating and set a $58.00 price objective on the stock in a research note on Friday, January 5th. Finally, Citigroup lowered their price objective on Bank OZK from $62.00 to $57.00 and set a buy rating on the stock in a research note on Wednesday, March 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $49.14.

Bank OZK Price Performance

Shares of NASDAQ:OZK opened at $46.00 on Monday. The company’s 50-day moving average is $43.68 and its 200 day moving average is $43.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.01. The company has a market capitalization of $5.20 billion, a P/E ratio of 7.71 and a beta of 1.27. Bank OZK has a fifty-two week low of $30.72 and a fifty-two week high of $52.36.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings results on Thursday, April 18th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.07. The company had revenue of $406.02 million for the quarter, compared to the consensus estimate 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 previous year, the firm earned $1.41 EPS. On average, equities research analysts forecast that Bank OZK will post 6.04 earnings per share for the current year.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 12th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.39%. This is a boost from Bank OZK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, April 11th. Bank OZK’s dividend payout ratio is 26.13%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OZK. National Bank of Canada FI increased its position in shares of Bank OZK by 17.9% in the third quarter. National Bank of Canada FI now owns 4,790 shares of the company’s stock worth $173,000 after purchasing an additional 727 shares during the last quarter. SG Americas Securities LLC boosted its stake in Bank OZK by 394.9% in the third quarter. SG Americas Securities LLC now owns 32,621 shares of the company’s stock worth $1,209,000 after buying an additional 26,030 shares in the last quarter. Naples Global Advisors LLC boosted its stake in Bank OZK by 14.9% in the third quarter. Naples Global Advisors LLC now owns 14,635 shares of the company’s stock worth $543,000 after buying an additional 1,900 shares in the last quarter. BTC Capital Management Inc. boosted its stake in Bank OZK by 1.6% in the third quarter. BTC Capital Management Inc. now owns 18,982 shares of the company’s stock worth $704,000 after buying an additional 304 shares in the last quarter. Finally, KG&L Capital Management LLC purchased a new stake in Bank OZK in the third quarter worth approximately $213,000. 86.18% of the stock is currently owned by institutional investors.

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.