Bank OZK (NASDAQ:OZK) Price Target Cut to $48.00 by Analysts at Keefe, Bruyette & Woods

Bank OZK (NASDAQ:OZK - Free Report) had its price target decreased by Keefe, Bruyette & Woods from $50.00 to $48.00 in a research report released on Tuesday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

A number of other research analysts also recently issued reports on OZK. Morgan Stanley cut their price objective on Bank OZK from $58.00 to $54.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. Stephens dropped their price target on shares of Bank OZK from $59.00 to $54.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Finally, Wells Fargo & Company decreased their price objective on shares of Bank OZK from $48.00 to $40.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Bank OZK currently has a consensus rating of "Hold" and an average target price of $49.13.

Bank OZK Stock Performance

OZK traded up $0.09 during trading on Tuesday, hitting $42.72. The company's stock had a trading volume of 811,977 shares, compared to its average volume of 1,334,181. The business's 50 day simple moving average is $43.33 and its 200-day simple moving average is $45.83. The firm has a market cap of $4.85 billion, a PE ratio of 6.96 and a beta of 1.05. Bank OZK has a one year low of $35.71 and a one year high of $53.64. The company has a quick ratio of 1.02, a current ratio of 1.03 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 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.05. Bank OZK had a return on equity of 13.90% and a net margin of 25.83%. The company had revenue of $409.23 million for the quarter, compared to analysts' expectations of $403.05 million. During the same period last year, the firm earned $1.51 EPS. As a group, sell-side analysts predict that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 14th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend 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 28.20%.

Hedge Funds Weigh In On Bank OZK

Several institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Bank OZK during the 4th quarter valued at about $53,114,000. Wasatch Advisors LP lifted its position in shares of Bank OZK by 19.3% in the fourth quarter. Wasatch Advisors LP now owns 7,102,657 shares of the company's stock worth $316,281,000 after buying an additional 1,149,880 shares in the last quarter. First Trust Advisors LP boosted its stake in Bank OZK by 30.4% during the fourth quarter. First Trust Advisors LP now owns 2,945,480 shares of the company's stock valued at $131,162,000 after buying an additional 686,775 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Bank OZK during the 4th quarter valued at approximately $14,077,000. Finally, AQR Capital Management LLC grew its holdings in Bank OZK by 12.6% during the 4th quarter. AQR Capital Management LLC now owns 2,811,354 shares of the company's stock valued at $125,190,000 after buying an additional 314,488 shares in the last quarter. 86.18% of the stock is owned by hedge funds and other 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.