California Public Employees Retirement System Trims Stake in Bank OZK (NASDAQ:OZK)

California Public Employees Retirement System cut its stake in shares of Bank OZK (NASDAQ:OZK - Free Report) by 6.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 204,555 shares of the company's stock after selling 13,779 shares during the period. California Public Employees Retirement System owned about 0.18% of Bank OZK worth $9,109,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. State Street Corp increased its stake in shares of Bank OZK by 7.3% in the third quarter. State Street Corp now owns 7,106,907 shares of the company's stock worth $305,526,000 after purchasing an additional 485,172 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Bank OZK by 32.7% in the 3rd quarter. Wellington Management Group LLP now owns 4,223,452 shares of the company's stock worth $181,566,000 after buying an additional 1,041,198 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Bank OZK by 4.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,130,006 shares of the company's stock worth $183,909,000 after buying an additional 188,575 shares in the last quarter. American Century Companies Inc. raised its holdings in Bank OZK by 12.3% during the fourth quarter. American Century Companies Inc. now owns 2,176,997 shares of the company's stock valued at $96,942,000 after acquiring an additional 238,810 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Bank OZK by 6.7% in the third quarter. Geode Capital Management LLC now owns 2,022,979 shares of the company's stock valued at $86,989,000 after acquiring an additional 126,352 shares in the last quarter. Institutional investors own 86.18% of the company's stock.

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Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wells Fargo & Company cut their target price on Bank OZK from $48.00 to $40.00 and set an "equal weight" rating for the company in a research report on Wednesday. Morgan Stanley cut their price objective on shares of Bank OZK from $58.00 to $54.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. UBS Group started coverage on shares of Bank OZK in a report on Tuesday, December 17th. They issued a "neutral" rating and a $51.00 target price on the stock. Finally, Stephens upped their target price 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $49.38.

Bank OZK Price Performance

Shares of OZK stock traded up $0.34 on Friday, reaching $37.97. The company's stock had a trading volume of 2,062,135 shares, compared to its average volume of 1,319,305. The company has a market capitalization of $4.31 billion, a price-to-earnings ratio of 6.18 and a beta of 1.05. The stock's fifty day simple moving average is $45.58 and its 200-day simple moving average is $45.90. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.16. Bank OZK has a 1 year low of $35.71 and a 1 year high of $53.64.

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

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 14th will be given a dividend of $0.43 per share. The ex-dividend date is Monday, April 14th. This is an increase from Bank OZK's previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 4.53%. Bank OZK's dividend payout ratio is 28.01%.

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.