Bank OZK (NASDAQ:OZK) Reaches New 1-Year Low – Here’s Why

Bank OZK (NASDAQ:OZK)’s stock price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $37.30 and last traded at $37.36, with a volume of 7164 shares traded. The stock had previously closed at $38.90.

Wall Street Analyst Weigh In

OZK has been the subject of several research reports. UBS Group assumed coverage on Bank OZK in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 price target for the company. Wells Fargo & Company upgraded shares of Bank OZK from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $40.00 to $48.00 in a research note on Tuesday, January 21st. Stephens upped their target price on Bank OZK from $53.00 to $57.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, Morgan Stanley dropped their price target on shares of 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. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $50.38.

Bank OZK Trading Down 2.0 %

The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.16. The firm’s 50-day moving average price is $47.28 and its 200 day moving average price is $46.11. The company has a market capitalization of $4.32 billion, a P/E ratio of 6.21 and a beta of 1.05.

Bank OZK (NASDAQ:OZK) last posted its earnings results on Thursday, January 16th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.44 by $0.12. The firm had revenue of $412.34 million for the quarter, compared to analysts’ expectations of $407.19 million. Bank OZK had a net margin of 25.83% and a return on equity of 13.90%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.50 EPS. As a group, equities research analysts predict that Bank OZK will post 6.02 earnings per share for the current year.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 14th will be paid a $0.43 dividend. This is a boost from Bank OZK’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date is Monday, April 14th. Bank OZK’s payout ratio is currently 28.01%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Norges Bank bought a new stake in Bank OZK during the fourth quarter worth about $53,114,000. Wasatch Advisors LP boosted its stake in 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. Wellington Management Group LLP grew its position in Bank OZK by 32.7% during the third quarter. Wellington Management Group LLP now owns 4,223,452 shares of the company’s stock valued at $181,566,000 after acquiring an additional 1,041,198 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Bank OZK by 30.4% during the fourth quarter. First Trust Advisors LP now owns 2,945,480 shares of the company’s stock worth $131,162,000 after acquiring an additional 686,775 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Bank OZK by 7.3% in the 3rd quarter. State Street Corp now owns 7,106,907 shares of the company’s stock worth $305,526,000 after acquiring an additional 485,172 shares during the last quarter. 86.18% of the stock is owned by institutional investors.

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.