Bank OZK (NASDAQ:OZK) Downgraded by Raymond James

Raymond James cut shares of Bank OZK (NASDAQ:OZK) from an outperform rating to a market perform rating in a research report released on Tuesday morning, Marketbeat Ratings reports.

A number of other equities research analysts have also weighed in on the stock. Wells Fargo & Company lowered their price target on shares of Bank OZK from $39.00 to $35.00 and set an underweight rating for the company in a report on Thursday, June 6th. Morgan Stanley raised their price target on shares of Bank OZK from $48.00 to $51.00 and gave the company an equal weight rating in a report on Monday, August 5th. StockNews.com raised shares of Bank OZK from a sell rating to a hold rating in a report on Thursday, July 18th. Stephens reissued an equal weight rating and set a $50.00 price objective on shares of Bank OZK in a report on Thursday, July 18th. Finally, Truist Financial raised their price objective on shares of Bank OZK from $41.00 to $49.00 and gave the stock a hold rating in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $46.57.

Bank OZK Price Performance

Bank OZK stock opened at $42.76 on Tuesday. Bank OZK has a 52-week low of $34.76 and a 52-week high of $52.36. The firm has a fifty day moving average of $42.90 and a 200-day moving average of $43.17. The firm has a market capitalization of $4.85 billion, a P/E ratio of 7.16 and a beta of 1.17. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.17.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings data on Wednesday, July 17th. The company reported $1.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.52. Bank OZK had a net margin of 27.04% and a return on equity of 14.50%. The company had revenue of $416.78 million during the quarter, compared to analyst estimates of $414.39 million. During the same quarter in the prior year, the business earned $1.47 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, analysts predict that Bank OZK will post 6.01 EPS for the current year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 12th were given a $0.40 dividend. This is an increase from Bank OZK’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend was Friday, July 12th. Bank OZK’s dividend payout ratio (DPR) is presently 26.80%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its position in Bank OZK by 136.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 359,814 shares of the company’s stock valued at $17,930,000 after purchasing an additional 207,341 shares during the last quarter. Pinebridge Investments L.P. lifted its position in Bank OZK by 77.3% in the 4th quarter. Pinebridge Investments L.P. now owns 188,600 shares of the company’s stock valued at $9,397,000 after purchasing an additional 82,233 shares during the last quarter. M&G Plc acquired a new position in Bank OZK during the 1st quarter valued at about $8,437,000. State Board of Administration of Florida Retirement System increased its stake in Bank OZK by 27.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 140,492 shares of the company’s stock valued at $6,387,000 after buying an additional 29,993 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Bank OZK during the 2nd quarter valued at about $873,000. 86.18% of the stock is currently owned by 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.