Truist Financial Cuts Bank OZK (NASDAQ:OZK) Price Target to $47.00

Bank OZK (NASDAQ:OZK) had its target price reduced by Truist Financial from $48.00 to $47.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a hold rating on the stock.

Several other research analysts also recently commented on the company. Citigroup decreased their price objective on Bank OZK from $62.00 to $57.00 and set a buy rating on the stock in a research note on Wednesday, March 13th. StockNews.com lowered Bank OZK from a hold rating to a sell rating in a research report on Friday, March 22nd. Raymond James upgraded Bank OZK from a market perform rating to an outperform rating and set a $58.00 price target on the stock in a research note on Friday, January 5th. Wells Fargo & Company reduced their price objective on shares of Bank OZK from $41.00 to $39.00 and set an underweight rating for the company in a research report on Thursday, February 1st. Finally, UBS Group cut Bank OZK from a buy rating to a neutral rating in a research report on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $49.14.

Bank OZK Price Performance

Shares of NASDAQ:OZK opened at $46.37 on Monday. The firm has a 50 day simple moving average of $43.63 and a 200 day simple moving average of $43.47. The company has a market cap of $5.25 billion, a price-to-earnings ratio of 7.77 and a beta of 1.27. Bank OZK has a one year low of $30.72 and a one year high of $52.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.01 and a quick ratio of 1.03.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings data on Thursday, April 18th. The company reported $1.51 earnings per share (EPS) 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 business had revenue of $406.02 million for the quarter, compared to analysts’ expectations of $396.81 million. During the same period in the previous year, the business posted $1.41 EPS. Research analysts predict that Bank OZK will post 5.91 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 12th were paid a $0.39 dividend. This is an increase from Bank OZK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $1.56 annualized dividend and a dividend yield of 3.36%. Bank OZK’s dividend payout ratio (DPR) is currently 26.13%.

Hedge Funds Weigh In On Bank OZK

Several institutional investors and hedge funds have recently modified their holdings of OZK. Louisiana State Employees Retirement System raised its stake in Bank OZK by 2.4% during the first quarter. Louisiana State Employees Retirement System now owns 30,300 shares of the company’s stock worth $1,377,000 after acquiring an additional 700 shares in the last quarter. Nations Financial Group Inc. IA ADV acquired a new position in shares of Bank OZK during the first quarter worth $445,000. Raymond James & Associates lifted its stake in shares of Bank OZK by 26.3% in the 1st quarter. Raymond James & Associates now owns 615,481 shares of the company’s stock valued at $27,980,000 after acquiring an additional 128,101 shares during the last quarter. Arcus Capital Partners LLC grew its position in Bank OZK by 23.0% during the 1st quarter. Arcus Capital Partners LLC now owns 6,641 shares of the company’s stock worth $302,000 after acquiring an additional 1,242 shares during the last quarter. Finally, Norden Group LLC bought a new stake in shares of Bank OZK during the first quarter worth about $225,000. 86.18% of the stock is currently owned by institutional investors and hedge funds.

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.