Bank OZK (NASDAQ:OZK) Downgraded by Raymond James

Raymond James downgraded shares of Bank OZK (NASDAQ:OZK) from an outperform rating to a market perform rating in a report issued on Tuesday morning, MarketBeat Ratings reports.

OZK has been the topic of several other reports. Citigroup lowered shares of Bank OZK from a buy rating to a sell rating and lowered their target price for the stock from $57.00 to $37.00 in a research report on Wednesday, May 29th. Stephens restated an equal weight rating and set a $50.00 target price on shares of Bank OZK in a research report on Thursday, July 18th. Truist Financial upped their target price on shares of Bank OZK from $41.00 to $49.00 and gave the stock a hold rating in a research report on Monday, July 22nd. StockNews.com raised shares of Bank OZK from a sell rating to a hold rating in a report on Thursday, July 18th. Finally, Wells Fargo & Company reduced 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. Two analysts have rated the stock with a sell rating and seven have assigned a hold 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 $46.57.

Bank OZK Trading Down 2.8 %

Shares of Bank OZK stock opened at $42.76 on Tuesday. 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 company’s 50-day simple moving average is $42.90 and its 200-day simple moving average is $43.17. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of 7.16 and a beta of 1.17.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $1.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $414.39 million. During the same period in the previous year, the business posted $1.47 earnings per share. The business’s revenue was up 7.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Bank OZK will post 6.01 earnings per share for the current year.

Bank OZK Increases Dividend

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

Hedge Funds Weigh In On Bank OZK

Large investors have recently bought and sold shares of the stock. LRI Investments LLC purchased a new position in Bank OZK during the first quarter worth approximately $29,000. Principal Securities Inc. purchased a new position in Bank OZK during the fourth quarter worth approximately $31,000. PSI Advisors LLC raised its stake in Bank OZK by 20,933.3% during 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. Versant Capital Management Inc raised 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 worth $40,000 after purchasing an additional 791 shares during the period. Finally, Innealta Capital LLC purchased a new position in Bank OZK during the second quarter worth approximately $46,000. 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.