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

Bank OZK (NASDAQ:OZK) had its price target trimmed by Truist Financial from $49.00 to $48.00 in a report issued on Friday, Benzinga reports. The firm currently has a hold rating on the stock.

Several other research firms also recently commented on OZK. StockNews.com raised shares of Bank OZK from a sell rating to a hold rating in a research note on Thursday, July 18th. Morgan Stanley lifted their price target on shares of Bank OZK from $48.00 to $51.00 and gave the company an equal weight rating in a research note on Monday, August 5th. Citigroup cut Bank OZK from a buy rating to a sell rating and dropped their price objective for the stock from $57.00 to $37.00 in a research note on Wednesday, May 29th. Stephens reaffirmed an equal weight rating and set a $50.00 target price on shares of Bank OZK in a research report on Thursday, July 18th. Finally, Wells Fargo & Company lowered their target price on Bank OZK from $39.00 to $35.00 and set an underweight rating for the company in a report on Thursday, June 6th. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, Bank OZK currently has an average rating of Hold and a consensus price target of $46.57.

Bank OZK Stock Down 2.8 %

Shares of NASDAQ:OZK opened at $42.76 on Friday. The firm has a market capitalization of $4.85 billion, a PE ratio of 7.16 and a beta of 1.17. The business has a 50 day simple moving average of $42.90 and a two-hundred day simple moving average of $43.16. Bank OZK has a 1 year low of $34.76 and a 1 year high of $52.36. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.02 and a quick ratio of 1.02.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $1.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.52. The company had revenue of $416.78 million during the quarter, compared to analysts’ expectations of $414.39 million. Bank OZK had a return on equity of 14.50% and a net margin of 27.04%. Bank OZK’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.47 EPS. On average, equities analysts predict that Bank OZK will post 6.01 EPS for the current year.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 12th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, July 12th. 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. Bank OZK’s dividend payout ratio is currently 26.80%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. PSI Advisors LLC boosted its position in Bank OZK by 20,933.3% during the second quarter. PSI Advisors LLC now owns 631 shares of the company’s stock valued at $26,000 after purchasing an additional 628 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Bank OZK in the 1st quarter valued at about $29,000. Principal Securities Inc. purchased a new position in shares of Bank OZK in the 4th quarter worth approximately $31,000. Versant Capital Management Inc raised its stake in shares of Bank OZK by 423.0% during the 2nd quarter. Versant Capital Management Inc now owns 978 shares of the company’s stock worth $40,000 after acquiring an additional 791 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in Bank OZK during the second quarter valued at approximately $46,000. 86.18% of the stock is currently owned by hedge funds and other 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.