Bank OZK (NASDAQ:OZK) Price Target Cut to $47.00

Bank OZK (NASDAQ:OZK) had its target price decreased by stock analysts at Truist Financial from $48.00 to $47.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 2.00% from the stock’s previous close.

Several other equities analysts have also issued reports on OZK. Citigroup reduced their price target on Bank OZK from $62.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. StockNews.com lowered Bank OZK from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. UBS Group lowered Bank OZK from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Wells Fargo & Company cut their price objective on Bank OZK from $41.00 to $39.00 and set an “underweight” rating on the stock in a research report on Thursday, February 1st. Finally, Raymond James upgraded Bank OZK from a “market perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a research report on Friday, January 5th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Bank OZK has a consensus rating of “Hold” and a consensus price target of $48.25.

Bank OZK Price Performance

OZK opened at $46.08 on Monday. The stock’s 50 day simple moving average is $43.55 and its 200 day simple moving average is $43.45. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.01 and a quick ratio of 1.03. Bank OZK has a 1 year low of $30.72 and a 1 year high of $52.36. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of 7.72 and a beta of 1.27.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings results on Thursday, April 18th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.07. Bank OZK had a return on equity of 14.84% and a net margin of 28.54%. The business had revenue of $406.02 million for the quarter, compared to analyst estimates of $396.81 million. During the same period last year, the company earned $1.41 EPS. As a group, analysts predict that Bank OZK will post 5.89 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Sowell Financial Services LLC raised its stake in Bank OZK by 2.3% during the fourth quarter. Sowell Financial Services LLC now owns 10,573 shares of the company’s stock valued at $527,000 after buying an additional 236 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in Bank OZK by 2.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 11,374 shares of the company’s stock valued at $567,000 after buying an additional 246 shares during the last quarter. Beacon Pointe Advisors LLC raised its stake in Bank OZK by 4.1% during the fourth quarter. Beacon Pointe Advisors LLC now owns 6,247 shares of the company’s stock valued at $311,000 after buying an additional 247 shares during the last quarter. Cardinal Capital Management raised its stake in Bank OZK by 1.0% during the fourth quarter. Cardinal Capital Management now owns 30,704 shares of the company’s stock valued at $1,530,000 after buying an additional 292 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in Bank OZK by 25.5% during the third quarter. Fifth Third Bancorp now owns 1,487 shares of the company’s stock valued at $55,000 after buying an additional 302 shares during the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.

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.