Bank OZK (NASDAQ:OZK) PT Raised to $49.00

Bank OZK (NASDAQ:OZK) had its price objective upped by Truist Financial from $41.00 to $49.00 in a report published on Monday morning, Benzinga reports. They currently have a hold rating on the stock.

Other equities research analysts have also issued reports about the stock. Stephens restated an equal weight rating and issued a $50.00 price objective on shares of Bank OZK in a report on Thursday, July 18th. Wells Fargo & Company lowered their price objective on shares of Bank OZK from $39.00 to $35.00 and set an underweight rating for the company in a report on Thursday, June 6th. Keefe, Bruyette & Woods boosted their price objective on shares of Bank OZK from $45.00 to $47.00 and gave the stock a market perform rating in a report on Monday, April 22nd. StockNews.com upgraded shares of Bank OZK from a sell rating to a hold rating in a report on Thursday, July 18th. Finally, Citigroup lowered shares of Bank OZK from a buy rating to a sell rating and lowered their price objective for the stock from $57.00 to $37.00 in a report on Wednesday, May 29th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $46.29.

Bank OZK Price Performance

OZK stock opened at $46.05 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.02 and a quick ratio of 1.01. Bank OZK has a one year low of $34.76 and a one year high of $52.36. The stock has a market cap of $5.22 billion, a PE ratio of 7.71 and a beta of 1.20. The firm has a 50 day simple moving average of $42.11 and a two-hundred day simple moving average of $43.90.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings results on Wednesday, July 17th. The company reported $1.52 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 during the quarter, compared to analysts’ expectations of $414.39 million. During the same quarter in the previous year, the company earned $1.47 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, analysts predict that Bank OZK will post 6.05 EPS for the current fiscal year.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 12th were issued a dividend of $0.40 per share. This is a positive change from Bank OZK’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date was Friday, July 12th. Bank OZK’s dividend payout ratio is currently 26.80%.

Institutional Investors Weigh In On Bank OZK

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LRI Investments LLC bought a new stake in Bank OZK during the 1st quarter valued at $29,000. Principal Securities Inc. purchased a new position in Bank OZK during the 4th quarter valued at $31,000. PSI Advisors LLC increased its position in Bank OZK by 20,933.3% during the 2nd quarter. PSI Advisors LLC now owns 631 shares of the company’s stock valued at $26,000 after purchasing an additional 628 shares during the period. Bare Financial Services Inc purchased a new position in Bank OZK during the 4th quarter valued at $36,000. Finally, SRS Capital Advisors Inc. increased its position in Bank OZK by 303.9% during the 4th quarter. SRS Capital Advisors Inc. now owns 929 shares of the company’s stock valued at $46,000 after purchasing an additional 699 shares during the period. 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.