Diamond Hill Capital Management Inc. Sells 37,258 Shares of Bank OZK (NASDAQ:OZK)

Diamond Hill Capital Management Inc. lessened its stake in Bank OZK (NASDAQ:OZK - Free Report) by 3.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,015,079 shares of the company's stock after selling 37,258 shares during the quarter. Diamond Hill Capital Management Inc. owned approximately 0.89% of Bank OZK worth $43,638,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. M&G Plc purchased a new stake in shares of Bank OZK during the first quarter valued at approximately $8,437,000. State Board of Administration of Florida Retirement System increased its position in shares of Bank OZK by 27.1% during the first 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 acquiring an additional 29,993 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Bank OZK in the second quarter worth $873,000. BNP Paribas Financial Markets increased its position in Bank OZK by 211.3% in the first quarter. BNP Paribas Financial Markets now owns 61,181 shares of the company's stock worth $2,781,000 after buying an additional 41,527 shares during the last quarter. Finally, Natixis purchased a new stake in Bank OZK in the first quarter worth $868,000. Institutional investors own 86.18% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Truist Financial decreased their target price on Bank OZK from $48.00 to $46.00 and set a "hold" rating for the company in a research report on Monday, October 21st. Piper Sandler raised their target price on Bank OZK from $58.00 to $63.00 and gave the stock an "overweight" rating in a research report on Friday, October 18th. Raymond James downgraded Bank OZK from an "outperform" rating to a "market perform" rating in a research report on Tuesday, September 17th. Stephens raised their target price on Bank OZK from $48.00 to $51.00 and gave the stock an "equal weight" rating in a research report on Monday, October 21st. Finally, Morgan Stanley raised their target price on Bank OZK from $48.00 to $51.00 and gave the stock an "equal weight" rating in a research report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $48.50.

Bank OZK Stock Performance

Shares of NASDAQ OZK traded up $2.06 during mid-day trading on Monday, hitting $48.52. The company had a trading volume of 562,924 shares, compared to its average volume of 1,279,948. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of 7.64 and a beta of 1.16. Bank OZK has a 1 year low of $36.99 and a 1 year high of $52.36. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12. The stock's 50-day moving average price is $43.00 and its 200-day moving average price is $43.08.

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 for the quarter, beating the consensus estimate of $1.53 by $0.02. The company had revenue of $423.00 million during the quarter, compared to analysts' expectations of $419.08 million. Bank OZK had a return on equity of 14.15% and a net margin of 26.07%. On average, sell-side analysts forecast that Bank OZK will post 6.01 earnings per share for the current year.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 11th were paid a dividend of $0.41 per share. This is a positive change from Bank OZK's previous quarterly dividend of $0.40. The ex-dividend date was Friday, October 11th. This represents a $1.64 annualized dividend and a yield of 3.38%. Bank OZK's dividend payout ratio (DPR) is currently 26.97%.

Bank OZK 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.