Bank OZK (NASDAQ:OZK) Given Average Rating of “Reduce” by Brokerages

Bank OZK (NASDAQ:OZK) has earned an average rating of “Reduce” from the eight research firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $46.57.

A number of research firms recently weighed in on OZK. Wells Fargo & Company reduced their price target on Bank OZK from $39.00 to $35.00 and set an “underweight” rating for the company in a report on Thursday, June 6th. Morgan Stanley increased their target price 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. Raymond James lowered shares of Bank OZK from an “outperform” rating to a “market perform” rating in a report on Tuesday. Truist Financial decreased their price objective on shares of Bank OZK from $49.00 to $48.00 and set a “hold” rating on the stock in a report on Friday. Finally, Stephens reissued an “equal weight” rating and set a $50.00 target price on shares of Bank OZK in a research note on Thursday, July 18th.

Bank OZK Price Performance

NASDAQ:OZK opened at $42.76 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.02 and a quick ratio of 1.02. The company has a 50 day moving average price of $42.90 and a 200-day moving average price of $43.17. Bank OZK has a 1-year low of $34.76 and a 1-year high of $52.36. 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 released its quarterly earnings data on Wednesday, July 17th. The company reported $1.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.52. Bank OZK had a net margin of 27.04% and a return on equity of 14.50%. The company had revenue of $416.78 million during the quarter, compared to analysts’ expectations of $414.39 million. During the same quarter in the previous year, the company earned $1.47 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities research analysts forecast that Bank OZK will post 6.01 EPS for the current year.

Bank OZK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 12th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.74%. This is a positive change from Bank OZK’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, July 12th. Bank OZK’s dividend payout ratio (DPR) is 26.80%.

Institutional Investors Weigh In On Bank OZK

Large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. grew its holdings in shares of Bank OZK by 13.7% in the fourth quarter. Victory Capital Management Inc. now owns 24,137 shares of the company’s stock valued at $1,203,000 after purchasing an additional 2,913 shares during the period. Natixis Advisors L.P. acquired a new stake in shares of Bank OZK during the 4th quarter worth approximately $723,000. Principal Securities Inc. acquired a new stake in shares of Bank OZK during the 4th quarter worth approximately $31,000. Envestnet Portfolio Solutions Inc. raised its position in shares of Bank OZK by 17.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 7,229 shares of the company’s stock valued at $360,000 after buying an additional 1,079 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its position in Bank OZK by 43.4% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 13,747 shares of the company’s stock worth $685,000 after acquiring an additional 4,160 shares during the period. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

Bank OZK Company Profile

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.