AlphaQuest LLC Sells 26,350 Shares of Bank OZK (NASDAQ:OZK)

AlphaQuest LLC cut its holdings in shares of Bank OZK (NASDAQ:OZK - Free Report) by 44.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,465 shares of the company's stock after selling 26,350 shares during the period. AlphaQuest LLC's holdings in Bank OZK were worth $1,446,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC acquired a new stake in shares of Bank OZK during the fourth quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Bank OZK during the 4th quarter worth approximately $27,000. Smartleaf Asset Management LLC raised its holdings in Bank OZK by 176.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 761 shares of the company's stock worth $34,000 after buying an additional 486 shares during the period. V Square Quantitative Management LLC lifted its stake in Bank OZK by 81.3% in the fourth quarter. V Square Quantitative Management LLC now owns 948 shares of the company's stock valued at $42,000 after buying an additional 425 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in Bank OZK by 73.8% in the third quarter. Assetmark Inc. now owns 968 shares of the company's stock valued at $42,000 after buying an additional 411 shares in the last quarter. 86.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Stephens increased their price objective on shares of Bank OZK from $53.00 to $57.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 21st. UBS Group began coverage on Bank OZK in a report on Tuesday, December 17th. They set a "neutral" rating and a $51.00 target price for the company. Finally, Wells Fargo & Company raised Bank OZK from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $40.00 to $48.00 in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $50.00.

Remove Ads

Bank OZK Stock Up 0.9 %

NASDAQ:OZK traded up $0.37 on Wednesday, hitting $43.89. 1,042,478 shares of the company's stock were exchanged, compared to its average volume of 1,238,449. The firm has a 50-day moving average price of $48.12 and a 200-day moving average price of $45.89. Bank OZK has a 52 week low of $37.43 and a 52 week high of $53.64. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.03 and a quick ratio of 1.02. The company has a market cap of $4.98 billion, a P/E ratio of 7.15 and a beta of 1.23.

Bank OZK (NASDAQ:OZK - Get Free Report) last released its earnings results on Thursday, January 16th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.12. The business had revenue of $412.34 million for the quarter, compared to analyst estimates of $407.19 million. Bank OZK had a return on equity of 13.90% and a net margin of 25.83%. Bank OZK's revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.50 earnings per share. As a group, analysts expect that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 14th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend was Tuesday, January 14th. This is an increase from Bank OZK's previous quarterly dividend of $0.41. Bank OZK's dividend payout ratio is presently 27.36%.

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.