Bank OZK (NASDAQ:OZK - Free Report) had its price objective cut by Keefe, Bruyette & Woods from $50.00 to $48.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a market perform rating on the stock.
A number of other equities research analysts also recently weighed in on OZK. Wells Fargo & Company cut their target price on Bank OZK from $48.00 to $40.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Stephens cut their price objective on Bank OZK from $59.00 to $54.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Finally, Morgan Stanley dropped their price target on shares of Bank OZK from $58.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $49.13.
Check Out Our Latest Stock Report on Bank OZK
Bank OZK Stock Performance
Bank OZK stock traded up $0.09 during midday trading on Tuesday, reaching $42.72. 811,977 shares of the stock traded hands, compared to its average volume of 1,332,247. The firm has a fifty day moving average price of $43.33 and a two-hundred day moving average price of $45.80. Bank OZK has a fifty-two week low of $35.71 and a fifty-two week high of $53.64. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of 6.96 and a beta of 1.05. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.16.
Bank OZK (NASDAQ:OZK - Get Free Report) last announced its earnings results on Wednesday, April 16th. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.05. The firm had revenue of $409.23 million during the quarter, compared to analyst estimates of $403.05 million. Bank OZK had a net margin of 25.83% and a return on equity of 13.90%. During the same quarter in the prior year, the firm posted $1.51 EPS. On average, equities research analysts forecast that Bank OZK will post 6.02 earnings per share for the current year.
Bank OZK Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 14th were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 4.03%. The ex-dividend date was Monday, April 14th. This is an increase from Bank OZK's previous quarterly dividend of $0.42. Bank OZK's payout ratio is presently 28.20%.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its stake in Bank OZK by 55.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 129,980 shares of the company's stock worth $5,639,000 after purchasing an additional 46,349 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Bank OZK by 12.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 85,979 shares of the company's stock worth $3,760,000 after buying an additional 9,604 shares during the period. Money Concepts Capital Corp grew its holdings in shares of Bank OZK by 0.5% during the first quarter. Money Concepts Capital Corp now owns 70,962 shares of the company's stock valued at $3,083,000 after buying an additional 376 shares in the last quarter. Artemis Investment Management LLP raised its position in Bank OZK by 15.5% during the first quarter. Artemis Investment Management LLP now owns 97,260 shares of the company's stock valued at $4,226,000 after buying an additional 13,087 shares during the period. Finally, KG&L Capital Management LLC lifted its stake in Bank OZK by 8.1% in the 1st quarter. KG&L Capital Management LLC now owns 26,498 shares of the company's stock worth $1,150,000 after acquiring an additional 1,975 shares in the last quarter. 86.18% of the stock is owned by hedge funds and other institutional investors.
Bank OZK Company Profile
(
Get Free Report)
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.
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