Crossmark Global Holdings Inc. reduced its position in Bank OZK (NASDAQ:OZK - Free Report) by 73.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,464 shares of the company's stock after selling 18,309 shares during the period. Crossmark Global Holdings Inc.'s holdings in Bank OZK were worth $278,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of OZK. Janney Montgomery Scott LLC grew its stake in Bank OZK by 22.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 12,255 shares of the company's stock worth $557,000 after buying an additional 2,274 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Bank OZK by 27.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 140,492 shares of the company's stock valued at $6,387,000 after purchasing an additional 29,993 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Bank OZK by 12.8% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 62,281 shares of the company's stock worth $2,795,000 after purchasing an additional 7,056 shares in the last quarter. Ontario Teachers Pension Plan Board grew its position in Bank OZK by 59.2% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 31,835 shares of the company's stock worth $1,447,000 after purchasing an additional 11,844 shares during the last quarter. Finally, Seven Eight Capital LP acquired a new position in Bank OZK during the 1st quarter valued at approximately $863,000. Hedge funds and other institutional investors own 86.18% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on OZK shares. Truist Financial lowered their price objective on shares of Bank OZK from $48.00 to $46.00 and set a "hold" rating for the company in a research note on Monday, October 21st. Morgan Stanley boosted their price target on Bank OZK from $48.00 to $51.00 and gave the company an "equal weight" rating in a research note on Monday, August 5th. Piper Sandler raised their price objective on Bank OZK from $58.00 to $63.00 and gave the stock an "overweight" rating in a research note on Friday, October 18th. Stephens upped their target price on Bank OZK from $48.00 to $51.00 and gave the company an "equal weight" rating in a research report on Monday, October 21st. Finally, Raymond James downgraded shares of Bank OZK from an "outperform" rating to a "market perform" rating in a report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $48.50.
View Our Latest Stock Analysis on Bank OZK
Bank OZK Stock Performance
Bank OZK stock traded down $0.26 during mid-day trading on Monday, hitting $48.23. The company had a trading volume of 1,601,432 shares, compared to its average volume of 1,286,580. The company has a market capitalization of $5.47 billion, a price-to-earnings ratio of 7.93 and a beta of 1.16. Bank OZK has a 12-month low of $37.43 and a 12-month high of $52.36. The company's fifty day moving average is $43.65 and its 200-day moving average is $43.17. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12.
Bank OZK (NASDAQ:OZK - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The company reported $1.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.53 by $0.02. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. The firm had revenue of $423.00 million for the quarter, compared to the consensus estimate of $419.08 million. Equities research analysts predict that Bank OZK will post 6.03 EPS for the current year.
Bank OZK Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 11th were issued a $0.41 dividend. This is a boost from Bank OZK's previous quarterly dividend of $0.40. The ex-dividend date was Friday, October 11th. This represents a $1.64 dividend on an annualized basis and a yield of 3.40%. Bank OZK's dividend payout ratio is presently 26.97%.
About Bank OZK
(
Free Report)
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.
See Also
Before you consider Bank OZK, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bank OZK wasn't on the list.
While Bank OZK currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.