Bank OZK (NASDAQ:OZK) Given New $48.00 Price Target at Truist Financial

Bank OZK (NASDAQ:OZK) had its price target cut by research analysts at Truist Financial from $49.00 to $48.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective points to a potential upside of 11.55% from the company’s previous close.

OZK has been the topic of a number of other research reports. StockNews.com upgraded Bank OZK from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Citigroup lowered Bank OZK from a “buy” rating to a “sell” rating and lowered their price objective for the stock from $57.00 to $37.00 in a research report on Wednesday, May 29th. Stephens reaffirmed an “equal weight” rating and set a $50.00 target price on shares of Bank OZK in a report on Thursday, July 18th. Raymond James cut shares of Bank OZK from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Finally, Wells Fargo & Company dropped their price target on shares of Bank OZK from $39.00 to $35.00 and set an “underweight” rating on the stock in a research report on Thursday, June 6th. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, Bank OZK presently has a consensus rating of “Hold” and an average target price of $46.57.

Bank OZK Stock Down 2.1 %

OZK traded down $0.94 on Friday, hitting $43.03. The company had a trading volume of 177,951 shares, compared to its average volume of 1,269,613. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of 7.21 and a beta of 1.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a fifty day moving average price of $42.90 and a 200-day moving average price of $43.17. Bank OZK has a 12-month low of $34.76 and a 12-month high of $52.36.

Bank OZK (NASDAQ:OZK) last announced its earnings results on Wednesday, July 17th. The company reported $1.52 EPS for the quarter, hitting analysts’ consensus estimates of $1.52. Bank OZK had a net margin of 27.04% and a return on equity of 14.50%. The business had revenue of $416.78 million during the quarter, compared to the consensus estimate of $414.39 million. During the same period in the previous year, the company posted $1.47 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. Analysts predict that Bank OZK will post 6.01 EPS for the current fiscal year.

Institutional Trading of Bank OZK

A number of large investors have recently bought and sold shares of the business. Principal Securities Inc. acquired a new stake in Bank OZK in the fourth quarter valued at $31,000. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Bank OZK by 17.5% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,229 shares of the company’s stock valued at $360,000 after purchasing an additional 1,079 shares during the period. Beacon Pointe Advisors LLC boosted its holdings in Bank OZK by 4.1% during the fourth quarter. Beacon Pointe Advisors LLC now owns 6,247 shares of the company’s stock worth $311,000 after buying an additional 247 shares in the last quarter. Norges Bank acquired a new position in Bank OZK during the fourth quarter worth about $56,293,000. Finally, Clearbridge Investments LLC increased its holdings in Bank OZK by 0.6% in the fourth quarter. Clearbridge Investments LLC now owns 509,581 shares of the company’s stock valued at $25,392,000 after buying an additional 3,283 shares in the last quarter. Institutional investors and hedge funds 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.