Bank Ozk (OZK) Downgraded by Piper Jaffray Companies
Piper Jaffray Companies cut shares of Bank Ozk (NASDAQ:OZK) from an overweight rating to a neutral rating in a research report released on Tuesday, MarketBeat Ratings reports. They currently have $31.00 price objective on the stock, down from their prior price objective of $52.00. Piper Jaffray Companies also issued estimates for Bank Ozk’s Q4 2018 earnings at $0.82 EPS, FY2018 earnings at $3.17 EPS, Q1 2019 earnings at $0.76 EPS, Q2 2019 earnings at $0.77 EPS, Q3 2019 earnings at $0.79 EPS, Q4 2019 earnings at $0.82 EPS, FY2019 earnings at $3.14 EPS, Q1 2020 earnings at $0.78 EPS, Q2 2020 earnings at $0.83 EPS, Q3 2020 earnings at $0.86 EPS and FY2020 earnings at $3.38 EPS.
Several other equities analysts have also issued reports on the company. Brean Capital reiterated a buy rating and issued a $54.00 price objective on shares of Bank Ozk in a research report on Friday, October 19th. They noted that the move was a valuation call. Sandler O’Neill downgraded Bank Ozk from a buy rating to a hold rating and set a $29.00 price target for the company. in a research report on Friday, October 19th. Wells Fargo & Co set a $40.00 price target on Bank Ozk and gave the stock a hold rating in a research report on Tuesday, October 2nd. Raymond James downgraded Bank Ozk from an outperform rating to a market perform rating in a research report on Friday, October 19th. Finally, Barclays reduced their price target on Bank Ozk from $38.00 to $27.00 and set an underweight rating for the company in a research report on Monday, October 22nd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $32.44.
Shares of OZK opened at $23.79 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.95 and a quick ratio of 0.95. Bank Ozk has a 52-week low of $23.35 and a 52-week high of $53.70. The company has a market capitalization of $3.12 billion, a P/E ratio of 7.86, a price-to-earnings-growth ratio of 0.64 and a beta of 1.46.
A number of large investors have recently added to or reduced their stakes in OZK. Vanguard Group Inc. acquired a new position in Bank Ozk during the 3rd quarter worth approximately $445,842,000. BlackRock Inc. acquired a new position in Bank Ozk during the 3rd quarter worth approximately $411,309,000. FMR LLC acquired a new position in Bank Ozk during the 3rd quarter worth approximately $227,092,000. Epoch Investment Partners Inc. acquired a new position in Bank Ozk during the 3rd quarter worth approximately $168,824,000. Finally, Neuberger Berman Group LLC acquired a new position in Bank Ozk during the 3rd quarter worth approximately $128,579,000. 88.14% of the stock is owned by hedge funds and other institutional investors.
Bank Ozk Company Profile
Bank OZK provides a range of retail and commercial banking services to businesses, individuals, and non-profit and governmental entities. The company accepts non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time deposits.
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