Bank OZK (NASDAQ:OZK) Given New $47.00 Price Target at Truist Financial

Bank OZK (NASDAQ:OZK) had its price objective trimmed by Truist Financial from $48.00 to $47.00 in a research report report published on Monday morning, Benzinga reports. The firm currently has a hold rating on the stock.

OZK has been the topic of a number of other research reports. UBS Group downgraded Bank OZK from a buy rating to a neutral rating in a research report on Monday, January 8th. StockNews.com downgraded Bank OZK from a hold rating to a sell rating in a research report on Friday, March 22nd. Raymond James raised Bank OZK from a market perform rating to an outperform rating and set a $58.00 price objective on the stock in a research report on Friday, January 5th. Wells Fargo & Company decreased their price target on Bank OZK from $41.00 to $39.00 and set an underweight rating for the company in a research note on Thursday, February 1st. Finally, Citigroup decreased their price target on Bank OZK from $62.00 to $57.00 and set a buy rating for the company in a research note on Wednesday, March 13th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $49.14.

Bank OZK Price Performance

Shares of OZK stock opened at $46.00 on Monday. Bank OZK has a twelve month low of $30.72 and a twelve month high of $52.36. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 7.71 and a beta of 1.27. The stock has a fifty day simple moving average of $43.68 and a two-hundred day simple moving average of $43.49. The company has a current ratio of 1.01, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings data on Thursday, April 18th. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.07. Bank OZK had a return on equity of 14.84% and a net margin of 28.54%. The company had revenue of $406.02 million for the quarter, compared to the consensus estimate of $396.81 million. During the same quarter last year, the company earned $1.41 earnings per share. On average, analysts predict that Bank OZK will post 6.04 EPS for the current fiscal year.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 12th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.39%. This is a boost from Bank OZK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, April 11th. Bank OZK’s dividend payout ratio (DPR) is presently 26.13%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of OZK. Principal Securities Inc. purchased a new position in Bank OZK during the fourth quarter valued at approximately $31,000. Bare Financial Services Inc purchased a new position in Bank OZK during the fourth quarter valued at approximately $36,000. SRS Capital Advisors Inc. raised its position in Bank OZK by 303.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 929 shares of the company’s stock valued at $46,000 after acquiring an additional 699 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Bank OZK by 601.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,402 shares of the company’s stock valued at $69,000 after acquiring an additional 1,202 shares in the last quarter. Finally, MCF Advisors LLC purchased a new position in Bank OZK during the fourth quarter valued at approximately $73,000. 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.