Russell Investments Group Ltd. trimmed its holdings in Bank OZK (NASDAQ:OZK – Free Report) by 0.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 135,154 shares of the company’s stock after selling 794 shares during the quarter. Russell Investments Group Ltd. owned 0.12% of Bank OZK worth $6,144,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of OZK. Norges Bank acquired a new position in shares of Bank OZK in the fourth quarter worth about $56,293,000. Vanguard Group Inc. raised its position in Bank OZK by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 12,028,779 shares of the company’s stock worth $599,394,000 after acquiring an additional 502,005 shares during the period. Wellington Management Group LLP lifted its holdings in Bank OZK by 18.8% during the fourth quarter. Wellington Management Group LLP now owns 1,897,696 shares of the company’s stock valued at $94,562,000 after purchasing an additional 300,025 shares in the last quarter. Epoch Investment Partners Inc. acquired a new stake in shares of Bank OZK in the fourth quarter valued at about $10,624,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Bank OZK by 136.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 359,814 shares of the company’s stock worth $17,930,000 after purchasing an additional 207,341 shares during the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.
Bank OZK Trading Up 0.6 %
NASDAQ:OZK opened at $45.33 on Monday. Bank OZK has a 1 year low of $34.76 and a 1 year high of $52.36. The stock has a market cap of $5.14 billion, a P/E ratio of 7.59 and a beta of 1.20. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.01 and a current ratio of 1.02. The stock has a 50-day simple moving average of $42.32 and a 200-day simple moving average of $43.94.
Bank OZK (NASDAQ:OZK – Get Free Report) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $1.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.52. The firm had revenue of $416.78 million during the quarter, compared to the consensus estimate of $414.39 million. Bank OZK had a return on equity of 14.50% and a net margin of 27.04%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.47 earnings per share. As a group, analysts anticipate that Bank OZK will post 6.07 earnings per share for the current fiscal year.
Bank OZK Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 12th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.53%. This is a boost from Bank OZK’s previous quarterly dividend of $0.39. Bank OZK’s payout ratio is 26.80%.
Wall Street Analysts Forecast Growth
OZK has been the topic of several research analyst reports. Truist Financial lowered their price objective on Bank OZK from $47.00 to $41.00 and set a “hold” rating on the stock in a report on Monday, July 8th. Citigroup cut shares of Bank OZK from a “buy” rating to a “sell” rating and lowered their price objective for the stock from $57.00 to $37.00 in a research report on Wednesday, May 29th. Wells Fargo & Company cut their target price on Bank OZK from $39.00 to $35.00 and set an “underweight” rating on the stock in a research report on Thursday, June 6th. Keefe, Bruyette & Woods lifted their price objective on Bank OZK from $45.00 to $47.00 and gave the company a “market perform” rating in a research note on Monday, April 22nd. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $48.00 price target on shares of Bank OZK in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, six have given 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 $45.14.
Bank OZK Company Profile
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.
Further Reading
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