Bank OZK (NASDAQ:OZK) Sets New 12-Month Low - Here's What Happened

Bank OZK (NASDAQ:OZK - Get Free Report) hit a new 52-week low during trading on Friday . The stock traded as low as $37.30 and last traded at $37.36, with a volume of 7164 shares traded. The stock had previously closed at $38.90.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley cut their target price on shares of Bank OZK from $58.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Thursday, March 13th. UBS Group started coverage on Bank OZK in a research note on Tuesday, December 17th. They set a "neutral" rating and a $51.00 price objective for the company. Stephens increased their price target on shares of Bank OZK from $53.00 to $57.00 and gave the company an "equal weight" rating in a report on Tuesday, January 21st. Finally, Wells Fargo & Company upgraded shares of Bank OZK from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $40.00 to $48.00 in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $50.38.

Bank OZK Trading Up 3.7 %

The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.16. The firm has a market cap of $4.42 billion, a P/E ratio of 6.44 and a beta of 1.05. The stock has a 50 day simple moving average of $46.49 and a 200-day simple moving average of $46.00.

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Bank OZK (NASDAQ:OZK - Get Free Report) last issued its quarterly earnings results on Thursday, January 16th. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.12. Bank OZK had a return on equity of 13.90% and a net margin of 25.83%. The firm had revenue of $412.34 million for the quarter, compared to the consensus estimate of $407.19 million. During the same period in the prior year, the business posted $1.50 earnings per share. The company's revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities research analysts expect that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 14th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, April 14th. This is an increase from Bank OZK's previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.42%. Bank OZK's dividend payout ratio (DPR) is currently 28.01%.

Hedge Funds Weigh In On Bank OZK

Large investors have recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Bank OZK in the 4th quarter worth $27,000. Kestra Investment Management LLC purchased a new stake in shares of Bank OZK during the fourth quarter valued at about $27,000. Smartleaf Asset Management LLC boosted its holdings in shares of Bank OZK by 176.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 761 shares of the company's stock valued at $34,000 after buying an additional 486 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in shares of Bank OZK by 81.3% in the 4th quarter. V Square Quantitative Management LLC now owns 948 shares of the company's stock valued at $42,000 after buying an additional 425 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Bank OZK in the 4th quarter worth approximately $54,000. Institutional investors own 86.18% of the company's stock.

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.