Bank OZK (NASDAQ:OZK) Lowered to “Market Perform” at Raymond James

Raymond James downgraded shares of Bank OZK (NASDAQ:OZK) from an outperform rating to a market perform rating in a research note published on Tuesday, Marketbeat reports.

OZK has been the subject of several other research reports. Stephens reissued an equal weight rating and set a $50.00 price target on shares of Bank OZK in a research report on Thursday, July 18th. Citigroup cut shares of Bank OZK from a buy rating to a sell rating and dropped their target price for the stock from $57.00 to $37.00 in a research report on Wednesday, May 29th. Wells Fargo & Company dropped their target price on shares of Bank OZK from $39.00 to $35.00 and set an underweight rating for the company in a research report on Thursday, June 6th. Morgan Stanley raised their target price on shares of Bank OZK from $48.00 to $51.00 and gave the stock an equal weight rating in a research report on Monday, August 5th. Finally, Truist Financial raised their target price on shares of Bank OZK from $41.00 to $49.00 and gave the stock a hold rating in a research report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $46.71.

Bank OZK Trading Up 0.2 %

Shares of OZK opened at $42.12 on Tuesday. The stock has a market capitalization of $4.78 billion, a P/E ratio of 7.06 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. The firm has a fifty day simple moving average of $42.88 and a two-hundred day simple moving average of $43.17. Bank OZK has a twelve month low of $34.76 and a twelve month high of $52.36.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $1.52 earnings per share for the quarter, meeting the consensus estimate of $1.52. The business had revenue of $416.78 million during the quarter, compared to analysts’ expectations of $414.39 million. Bank OZK had a net margin of 27.04% and a return on equity of 14.50%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.47 EPS. On average, research analysts anticipate 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. Investors of record on Friday, July 12th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.80%. This is a positive change from Bank OZK’s previous quarterly dividend of $0.39. 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

Institutional investors have recently modified their holdings of the business. PSI Advisors LLC increased its stake in Bank OZK by 20,933.3% during the 2nd quarter. PSI Advisors LLC now owns 631 shares of the company’s stock valued at $26,000 after purchasing an additional 628 shares in the last quarter. LRI Investments LLC bought a new stake in Bank OZK during the 1st quarter valued at about $29,000. Principal Securities Inc. bought a new stake in Bank OZK during the 4th quarter valued at about $31,000. Versant Capital Management Inc increased its stake in Bank OZK by 423.0% during the 2nd quarter. Versant Capital Management Inc now owns 978 shares of the company’s stock valued at $40,000 after purchasing an additional 791 shares in the last quarter. Finally, Innealta Capital LLC bought a new stake in Bank OZK during the 2nd quarter valued at about $46,000. 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.