Bank Ozk (NASDAQ:OZK) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Friday.
According to Zacks, “Shares of Bank OZK have significantly underperformed the industry over the past six months. Also, the company does not have a decent earnings surprise history, having surpassed the Zacks Consensus Estimate in only one of the trailing four quarters. Estimates have been going down lately ahead of the company's fourth quarter 2018 earnings release. Margin pressure, despite higher interest rates, remains a major near-term concern for the company. Also, persistently rising expenses, due to the company’s expansion strategy through de novo branching, might hamper bottom-line growth to some extent. However, consistent growth in loans and deposits along with benefits from lower tax rates are expected to support profitability.”
A number of other equities research analysts have also recently issued reports on the stock. Barclays raised shares of Bank Ozk from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $27.00 to $28.00 in a report on Thursday. ValuEngine cut shares of Bank Ozk from a “sell” rating to a “strong sell” rating in a report on Thursday, September 13th. Wells Fargo & Co lowered their target price on shares of Bank Ozk from $40.00 to $33.00 and set a “market perform” rating on the stock in a report on Monday, October 22nd. TheStreet cut shares of Bank Ozk from a “b-” rating to a “c+” rating in a report on Friday, October 12th. Finally, UBS Group raised shares of Bank Ozk from a “sell” rating to a “neutral” rating and lowered their target price for the company from $36.00 to $27.00 in a report on Wednesday, October 24th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Bank Ozk has an average rating of “Hold” and a consensus target price of $32.22.
NASDAQ:OZK opened at $26.17 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $3.32 billion, a P/E ratio of 8.84, a P/E/G ratio of 0.64 and a beta of 1.49. Bank Ozk has a 12 month low of $21.02 and a 12 month high of $53.70.
Bank Ozk (NASDAQ:OZK) last posted its quarterly earnings results on Thursday, October 18th. The company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.32). The company had revenue of $244.74 million during the quarter, compared to the consensus estimate of $258.05 million. Bank Ozk had a return on equity of 11.17% and a net margin of 38.37%. During the same period last year, the firm posted $0.75 EPS. As a group, sell-side analysts expect that Bank Ozk will post 3.18 EPS for the current year.
A number of large investors have recently made changes to their positions in OZK. Vanguard Group Inc purchased a new position in Bank Ozk in the third quarter worth $445,842,000. Vanguard Group Inc. purchased a new stake in Bank Ozk during the third quarter valued at about $445,842,000. BlackRock Inc. purchased a new stake in Bank Ozk during the third quarter valued at about $411,309,000. FMR LLC purchased a new stake in Bank Ozk during the third quarter valued at about $227,092,000. Finally, Epoch Investment Partners Inc. purchased a new stake in Bank Ozk during the third quarter valued at about $168,824,000. Institutional investors own 86.29% of the company’s stock.
About Bank Ozk
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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