Truist Financial Trims Bank OZK (NASDAQ:OZK) Target Price to $46.00

Bank OZK (NASDAQ:OZK) had its target price trimmed by Truist Financial from $48.00 to $46.00 in a research report released on Monday, Benzinga reports. The firm currently has a hold rating on the stock.

Other equities analysts have also issued reports about the stock. Stephens reaffirmed an “equal weight” rating and issued a $50.00 price target on shares of Bank OZK in a report on Thursday, July 18th. Morgan Stanley upped their target price on Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Raymond James downgraded Bank OZK from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 17th. Piper Sandler upped their price objective on shares of Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, StockNews.com upgraded shares of Bank OZK from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $48.50.

Bank OZK Stock Performance

Shares of Bank OZK stock opened at $43.73 on Monday. The company has a market capitalization of $4.96 billion, a PE ratio of 7.19 and a beta of 1.17. The company has a 50-day simple moving average of $42.38 and a two-hundred day simple moving average of $43.00. Bank OZK has a one year low of $34.76 and a one year high of $52.36. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.02 and a current ratio of 1.02.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 11th were paid a $0.41 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.75%. This is a positive change from Bank OZK’s previous quarterly dividend of $0.40. Bank OZK’s dividend payout ratio is presently 26.97%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OZK. AQR Capital Management LLC lifted its holdings in Bank OZK by 291.5% in the second quarter. AQR Capital Management LLC now owns 2,371,892 shares of the company’s stock valued at $95,848,000 after acquiring an additional 1,765,974 shares during the period. Millennium Management LLC lifted its holdings in Bank OZK by 196.4% in the second quarter. Millennium Management LLC now owns 1,365,393 shares of the company’s stock valued at $55,981,000 after acquiring an additional 904,782 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Bank OZK by 483.9% during the 2nd quarter. Victory Capital Management Inc. now owns 980,358 shares of the company’s stock worth $40,195,000 after purchasing an additional 812,464 shares during the period. Berkley W R Corp acquired a new position in shares of Bank OZK in the 2nd quarter worth approximately $24,600,000. Finally, Vanguard Group Inc. lifted its stake in Bank OZK by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 12,028,779 shares of the company’s stock worth $599,394,000 after purchasing an additional 502,005 shares in the last quarter. 86.18% of the stock is currently owned by institutional investors and hedge funds.

About Bank OZK

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.