Bank OZK (NASDAQ:OZK) Trading Down 3.6% – Here’s What Happened

Bank OZK (NASDAQ:OZK) shares dropped 3.6% on Friday . The stock traded as low as $45.06 and last traded at $45.10. Approximately 700,103 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 1,266,905 shares. The stock had previously closed at $46.76.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on OZK shares. Raymond James downgraded Bank OZK from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. 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. Stephens reissued an “equal weight” rating and issued a $50.00 price target on shares of Bank OZK in a report on Thursday, July 18th. 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. Finally, Truist Financial decreased their price objective on shares of Bank OZK from $49.00 to $48.00 and set a “hold” rating for the company in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.63.

Bank OZK Trading Down 4.5 %

The stock has a 50-day moving average of $42.19 and a 200 day moving average of $43.02. 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 stock has a market cap of $5.07 billion, a PE ratio of 7.42 and a beta of 1.17.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings data on Wednesday, July 17th. The company reported $1.52 EPS for the quarter, meeting the consensus estimate 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 for the quarter, compared to the consensus estimate of $414.39 million. During the same period in the prior year, the firm earned $1.47 EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Bank OZK will post 6 earnings per share for the current year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 11th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.67%. This is a positive change from Bank OZK’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, October 11th. Bank OZK’s dividend payout ratio is presently 27.24%.

Hedge Funds Weigh In On Bank OZK

A number of institutional investors have recently modified their holdings of OZK. Vanguard Group Inc. grew its holdings 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 acquiring an additional 502,005 shares during the period. AQR Capital Management LLC grew its stake in shares of Bank OZK by 291.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,371,892 shares of the company’s stock worth $95,848,000 after purchasing an additional 1,765,974 shares during the period. Van Berkom & Associates Inc. increased its holdings in shares of Bank OZK by 2.0% during the 2nd quarter. Van Berkom & Associates Inc. now owns 2,024,130 shares of the company’s stock valued at $82,989,000 after purchasing an additional 40,356 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Bank OZK by 18.8% in the 4th quarter. Wellington Management Group LLP now owns 1,897,696 shares of the company’s stock valued at $94,562,000 after purchasing an additional 300,025 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Bank OZK by 21.9% during the second quarter. American Century Companies Inc. now owns 1,642,293 shares of the company’s stock worth $67,334,000 after buying an additional 295,298 shares in the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.

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.