Bank OZK (NASDAQ:OZK) Rating Lowered to Market Perform at Raymond James

Bank OZK (NASDAQ:OZK) was downgraded by research analysts at Raymond James from an “outperform” rating to a “market perform” rating in a research note issued on Tuesday, FinViz reports.

A number of other analysts also recently issued reports on the stock. Citigroup downgraded shares of 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 report on Wednesday, May 29th. Morgan Stanley upped their price objective on Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. StockNews.com raised Bank OZK from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Stephens restated an “equal weight” rating and issued a $50.00 target price on shares of Bank OZK in a research report on Thursday, July 18th. Finally, Truist Financial increased their price target on shares of Bank OZK from $41.00 to $49.00 and gave the company a “hold” rating in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $46.71.

Bank OZK Price Performance

Bank OZK stock opened at $42.04 on Tuesday. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 7.04 and a beta of 1.17. 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 business has a 50-day simple moving average of $42.86 and a 200 day simple moving average of $43.18. Bank OZK has a 52 week low of $34.76 and a 52 week high of $52.36.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $1.52 earnings per share 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 company had revenue of $416.78 million for the quarter, compared to analysts’ expectations of $414.39 million. During the same period in the prior year, the business earned $1.47 earnings per share. Bank OZK’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, research analysts forecast that Bank OZK will post 6.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bank OZK

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OZK. Vanguard Group Inc. increased its position in shares of Bank OZK by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 12,028,779 shares of the company’s stock valued at $599,394,000 after acquiring an additional 502,005 shares during the period. AQR Capital Management LLC raised its position in Bank OZK by 291.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,371,892 shares of the company’s stock valued at $95,848,000 after purchasing an additional 1,765,974 shares during the last quarter. Van Berkom & Associates Inc. raised its position in Bank OZK by 2.0% during the 2nd quarter. Van Berkom & Associates Inc. now owns 2,024,130 shares of the company’s stock valued at $82,989,000 after purchasing an additional 40,356 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Bank OZK by 18.8% in the 4th quarter. Wellington Management Group LLP now owns 1,897,696 shares of the company’s stock worth $94,562,000 after buying an additional 300,025 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Bank OZK by 21.9% in the 2nd quarter. American Century Companies Inc. now owns 1,642,293 shares of the company’s stock worth $67,334,000 after buying an additional 295,298 shares during the last quarter. 86.18% of the stock is currently owned by 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.