$OZK

Argus lowered its target price for Bank OZK (OZK) to $42.00. The bank operates in multiple states and is a community bank holding company.

Bank OZK (OZK) and Norwood Financial (NWFL) have upcoming ex-dividend dates. OZK pays $0.49 on Oct 20, with a 4.40% yield. NWFL pays $0.32 on Nov 2, with a 3.74% yield. Both have payout ratios below 50%, but OZK's share price has declined, while NWFL's earnings have been inconsistent.

Bank OZK (OZK) shares fell over 5% after Citigroup analysts highlighted concerns about a $915M construction loan modification for IQHQ's Research and Development District in San Diego. The extension, viewed as a short-term measure, suggests financial distress. Bank OZK's CEO mentioned ongoing negotiations for a long-term solution, with updates expected on the Q3 earnings call.

Bank OZK (OZK) increased its quarterly dividend by 2.08% to $0.49 per share, marking 65 consecutive quarterly increases. Despite this, its share price has fallen 11.6% over the past 30 days. Analysts suggest the bank is undervalued at 18%, with a fair value estimate of $54.22. Growth opportunities in Sun Belt regions and expansion of its Corporate & Institutional Banking division are expected to drive revenue growth.

Bank OZK 4.625% PER PFD A (OZKAP) announced a quarterly dividend of $0.289 per share, with a forward yield of 7.85%. The dividend is payable on November 16 to shareholders of record on November 2, with an ex-dividend date of November 2. The company has been diversifying its earnings, which may impact near-term results but strengthens its preferred stock case.

Bank OZK (OZK) raised its quarterly dividend by 2.1% to $0.49 per share, with a forward yield of 4.23%. The dividend is payable on October 20 to shareholders of record on October 13. The company also expects mid-single-digit loan growth in 2026 and equal contributions from CIB and RESG portfolios by 2027, according to recent reports.

Wells Fargo maintained an Equal-Weight rating on Bank OZK (OZK) but lowered its target price from $56 to $51, citing cautious outlook. GuruFocus values OZK at $49.89, suggesting 7.4% undervaluation. The bank has a GF Score of 91, indicating strong performance in profitability and growth. 11 gurus hold OZK, with 7 adding positions recently.

Analysts issued new ratings for Enova International (ENVA), Robinhood (HOOD), and Bank OZK (OZK). Maxim Group reiterated Buy on ENVA with a $285 target versus a $251.96 close. Morgan Stanley kept HOOD at Hold with a $124 target versus $95.65. UBS kept OZK at Hold with a $51 target versus $50.38.

The article cites activist research on Lyft, alleging $1.3 to $2.7 billion exposure from rideshare sexual-assault litigation versus $533 million in legal and tax accruals, and says Lyft’s $1.7 billion cash may require dilutive equity. It also notes Outlier Capital’s view on Bank OZK’s CRE downturn. It lists several executive departures at Palantir, Archer Aviation, Coastal Financial, Red Cat Holdings, and Lindsay Corporation.

Bank OZK reduced real estate exposure to 47% of its loan book in Q2, down 5 points from Q1, according to its earnings report. It originated $1B in real estate loans in April-June. Profit was $163M in Q2, down 8.7% YoY. Real estate charge-offs rose to 0.69% and nonperforming assets increased. The bank aims to lend $5B in 2024.