Shares of Bank OZK (NASDAQ:OZK – Get Rating) reached a new 52-week low during mid-day trading on Friday after Truist Financial lowered their price target on the stock from $50.00 to $40.00. Truist Financial currently has a hold rating on the stock. Bank OZK traded as low as $31.48 and last traded at $32.29, with a volume of 322489 shares trading hands. The stock had previously closed at $33.05.
OZK has been the subject of several other research reports. Keefe, Bruyette & Woods lowered their price objective on shares of Bank OZK from $45.00 to $40.00 and set a “market perform” rating for the company in a research report on Wednesday, January 4th. Morgan Stanley raised their target price on shares of Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, January 23rd. UBS Group raised shares of Bank OZK from a “neutral” rating to a “buy” rating and cut their target price for the company from $48.00 to $47.00 in a research report on Wednesday, March 15th. Finally, StockNews.com assumed coverage on shares of Bank OZK in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $46.33.
Institutional Trading of Bank OZK
Several institutional investors and hedge funds have recently bought and sold shares of OZK. Financial Gravity Asset Management Inc. purchased a new position in shares of Bank OZK during the 3rd quarter valued at approximately $282,000. Lazard Asset Management LLC purchased a new stake in Bank OZK in the 1st quarter worth $25,000. Geneos Wealth Management Inc. increased its holdings in Bank OZK by 94.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 776 shares of the company’s stock worth $33,000 after acquiring an additional 376 shares in the last quarter. CWM LLC increased its holdings in Bank OZK by 238.8% in the 4th quarter. CWM LLC now owns 813 shares of the company’s stock worth $33,000 after acquiring an additional 573 shares in the last quarter. Finally, Ronald Blue Trust Inc. purchased a new stake in Bank OZK in the 2nd quarter worth $37,000. 76.17% of the stock is currently owned by institutional investors and hedge funds.
Bank OZK Stock Performance
The company has a market cap of $4.06 billion, a PE ratio of 7.28 and a beta of 1.42. The firm’s fifty day moving average is $43.21 and its 200 day moving average is $42.57. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.25.
Bank OZK (NASDAQ:OZK – Get Rating) last released its earnings results on Thursday, January 19th. The company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. Bank OZK had a net margin of 40.86% and a return on equity of 13.13%. The business had revenue of $360.03 million during the quarter, compared to analyst estimates of $338.35 million. As a group, research analysts predict that Bank OZK will post 5.89 EPS for the current fiscal year.
Bank OZK Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 24th. Stockholders of record on Tuesday, January 17th were issued a dividend of $0.34 per share. This is a positive change from Bank OZK’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, January 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.20%. Bank OZK’s dividend payout ratio is presently 29.96%.
About Bank OZK
Bank OZK engages in the provision of community banking services. The firm offers deposit services such as checking, savings, money market, time deposit, and individual retirement accounts. It also provides loan services including types of real estate, consumer, commercial, industrial, and agricultural loans.