Diamond Hill Capital Management Inc. Sells 346,005 Shares of Bank OZK (NASDAQ:OZK)

Diamond Hill Capital Management Inc. reduced its position in Bank OZK (NASDAQ:OZK - Free Report) by 34.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 669,074 shares of the company's stock after selling 346,005 shares during the period. Diamond Hill Capital Management Inc. owned approximately 0.59% of Bank OZK worth $29,794,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of OZK. Wellington Management Group LLP raised its stake in shares of Bank OZK by 32.7% during the 3rd quarter. Wellington Management Group LLP now owns 4,223,452 shares of the company's stock worth $181,566,000 after purchasing an additional 1,041,198 shares during the period. Captrust Financial Advisors increased its position in shares of Bank OZK by 124.6% during the third quarter. Captrust Financial Advisors now owns 1,698,856 shares of the company's stock valued at $73,034,000 after buying an additional 942,309 shares during the period. Senvest Management LLC bought a new stake in shares of Bank OZK during the third quarter valued at about $22,306,000. State Street Corp increased its position in shares of Bank OZK by 7.3% during the third quarter. State Street Corp now owns 7,106,907 shares of the company's stock valued at $305,526,000 after buying an additional 485,172 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Bank OZK by 34.8% during the third quarter. Victory Capital Management Inc. now owns 1,321,436 shares of the company's stock valued at $56,809,000 after buying an additional 341,078 shares during the period. 86.18% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on OZK shares. Stephens upped their price target on Bank OZK from $53.00 to $57.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 21st. Wells Fargo & Company upgraded Bank OZK from an "underweight" rating to an "equal weight" rating and upped their price target for the company from $40.00 to $48.00 in a research report on Tuesday, January 21st. Morgan Stanley decreased their price objective on shares of Bank OZK from $58.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Finally, UBS Group initiated coverage on shares of Bank OZK in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $51.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, Bank OZK currently has a consensus rating of "Hold" and an average target price of $50.38.

Bank OZK Price Performance

OZK traded down $0.07 during midday trading on Tuesday, hitting $44.19. The stock had a trading volume of 1,037,229 shares, compared to its average volume of 1,226,429. The company has a market cap of $5.01 billion, a P/E ratio of 7.20 and a beta of 1.23. The business has a fifty day moving average of $48.11 and a 200 day moving average of $45.93. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.02 and a current ratio of 1.03. Bank OZK has a 1 year low of $37.43 and a 1 year high of $53.64.

Bank OZK (NASDAQ:OZK - Get Free Report) last issued 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 during 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 for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.50 earnings per share. As a group, equities 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 was paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 14th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend was Tuesday, January 14th. This is a positive change from Bank OZK's previous quarterly dividend of $0.41. Bank OZK's dividend payout ratio is 27.36%.

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.