Truist Financial Cuts Bank OZK (NASDAQ:OZK) Price Target to $41.00

Bank OZK (NASDAQ:OZK) had its target price reduced by stock analysts at Truist Financial from $47.00 to $41.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective would suggest a potential downside of 0.17% from the company’s previous close.

Other research analysts have also issued research reports about the stock. StockNews.com upgraded shares of Bank OZK from a “sell” rating to a “hold” rating in a research note on Thursday, May 30th. Keefe, Bruyette & Woods raised their target price on Bank OZK from $45.00 to $47.00 and gave the company a “market perform” rating in a report on Monday, April 22nd. Stephens reiterated an “equal weight” rating and set a $50.00 price target on shares of Bank OZK in a research note on Thursday, May 30th. Citigroup downgraded Bank OZK from a “buy” rating to a “sell” rating and cut their price objective for the company from $57.00 to $37.00 in a research note on Wednesday, May 29th. Finally, Wells Fargo & Company decreased their target price on Bank OZK from $39.00 to $35.00 and set an “underweight” rating for the company in a research report on Thursday, June 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $45.14.

Bank OZK Trading Up 2.5 %

Shares of NASDAQ:OZK opened at $41.07 on Monday. Bank OZK has a 12-month low of $34.76 and a 12-month high of $52.36. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $4.66 billion, a P/E ratio of 6.88 and a beta of 1.20. The firm has a fifty day moving average of $42.70 and a two-hundred day moving average of $44.21.

Bank OZK (NASDAQ:OZK) last issued its earnings results on Thursday, April 18th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.07. Bank OZK had a return on equity of 14.84% and a net margin of 28.54%. The firm had revenue of $406.02 million for the quarter, compared to the consensus estimate of $396.81 million. During the same quarter in the previous year, the company posted $1.41 earnings per share. On average, equities analysts expect that Bank OZK will post 6.06 EPS for the current fiscal year.

Institutional Investors Weigh In On Bank OZK

A number of institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its position in shares of Bank OZK by 136.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 359,814 shares of the company’s stock worth $17,930,000 after buying an additional 207,341 shares during the period. Comerica Bank bought a new stake in shares of Bank OZK in the 3rd quarter worth about $4,252,000. Pinebridge Investments L.P. increased its position in shares of Bank OZK by 77.3% during the 4th quarter. Pinebridge Investments L.P. now owns 188,600 shares of the company’s stock worth $9,397,000 after purchasing an additional 82,233 shares in the last quarter. Norges Bank bought a new position in Bank OZK during the 4th quarter valued at about $56,293,000. Finally, Epoch Investment Partners Inc. acquired a new position in Bank OZK in the fourth quarter valued at about $10,624,000. 86.18% of the stock is 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.