Citigroup Downgrades Bank OZK (NASDAQ:OZK) to Sell

Citigroup downgraded shares of Bank OZK (NASDAQ:OZKFree Report) from a buy rating to a sell rating in a research note published on Wednesday, MarketBeat reports. The brokerage currently has $37.00 price target on the stock, down from their previous price target of $57.00.

OZK has been the subject of a number of other reports. Truist Financial lowered their price target on shares of Bank OZK from $48.00 to $47.00 and set a hold rating for the company in a report on Monday, April 22nd. Wells Fargo & Company lowered their price target on shares of Bank OZK from $41.00 to $39.00 and set an underweight rating for the company in a report on Thursday, February 1st. StockNews.com lowered shares of Bank OZK from a hold rating to a sell rating in a report on Friday, March 22nd. Morgan Stanley reiterated an equal weight rating and set a $48.00 price target on shares of Bank OZK in a report on Monday, April 22nd. Finally, Keefe, Bruyette & Woods upped their price target on shares of Bank OZK from $45.00 to $47.00 and gave the company a market perform rating in a report on Monday, April 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Bank OZK has a consensus rating of Hold and an average target price of $46.57.

Get Our Latest Stock Report on Bank OZK

Bank OZK Price Performance

Shares of Bank OZK stock opened at $41.88 on Wednesday. Bank OZK has a 52-week low of $34.24 and a 52-week high of $52.36. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 7.02 and a beta of 1.24. The company has a fifty day moving average of $45.42 and a 200-day moving average of $45.24. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.01.

Bank OZK (NASDAQ:OZKGet Free Report) last announced its quarterly earnings data on Thursday, April 18th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.07. Bank OZK had a net margin of 28.54% and a return on equity of 14.84%. The company had revenue of $406.02 million during the quarter, compared to analysts’ expectations of $396.81 million. During the same quarter in the prior year, the company earned $1.41 EPS. Equities research analysts expect that Bank OZK will post 6.1 EPS for the current year.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 12th were issued a $0.39 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a yield of 3.72%. Bank OZK’s dividend payout ratio is 26.13%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in OZK. Qube Research & Technologies Ltd bought a new position in shares of Bank OZK in the 3rd quarter worth about $10,788,000. Comerica Bank bought a new position in shares of Bank OZK in the 3rd quarter worth about $4,252,000. Pathstone Family Office LLC bought a new position in shares of Bank OZK in the 3rd quarter worth about $667,000. Redmont Wealth Advisors LLC increased its stake in shares of Bank OZK by 36.9% in the 4th quarter. Redmont Wealth Advisors LLC now owns 16,542 shares of the company’s stock worth $824,000 after acquiring an additional 4,462 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Bank OZK in the 4th quarter worth about $56,293,000. 86.18% of the stock is currently owned by institutional investors.

About Bank OZK

(Get Free Report)

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.

See Also

Analyst Recommendations for Bank OZK (NASDAQ:OZK)

Receive News & Ratings for Bank OZK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank OZK and related companies with MarketBeat.com's FREE daily email newsletter.