JPMorgan Chase & Co. Lowers Holdings in Bank OZK (NASDAQ:OZK)

JPMorgan Chase & Co. lessened its position in shares of Bank OZK (NASDAQ:OZK - Free Report) by 5.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 245,471 shares of the company's stock after selling 15,371 shares during the quarter. JPMorgan Chase & Co. owned about 0.22% of Bank OZK worth $10,553,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rule One Partners LLC purchased a new stake in shares of Bank OZK during the third quarter valued at $1,720,000. Geode Capital Management LLC raised its stake 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 worth $86,989,000 after purchasing an additional 126,352 shares during the last quarter. Greenwood Gearhart Inc. lifted its holdings in shares of Bank OZK by 4.7% during the third quarter. Greenwood Gearhart Inc. now owns 30,036 shares of the company's stock worth $1,291,000 after purchasing an additional 1,360 shares during the period. M&T Bank Corp boosted its position in Bank OZK by 1.9% in the third quarter. M&T Bank Corp now owns 13,432 shares of the company's stock valued at $578,000 after buying an additional 244 shares during the last quarter. Finally, Barclays PLC boosted its position in Bank OZK by 30.7% in the third quarter. Barclays PLC now owns 254,874 shares of the company's stock valued at $10,958,000 after buying an additional 59,907 shares during the last quarter. Hedge funds and other institutional investors own 86.18% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on OZK shares. Piper Sandler lifted their price objective on shares of Bank OZK from $58.00 to $63.00 and gave the company an "overweight" rating in a research note on Friday, October 18th. UBS Group began coverage on shares of Bank OZK in a research report on Tuesday, December 17th. They set a "neutral" rating and a $51.00 target price for the company. Stephens increased their price target 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. Raymond James downgraded Bank OZK from an "outperform" rating to a "market perform" rating in a report on Tuesday, September 17th. Finally, Wells Fargo & Company upped their price objective on shares of Bank OZK from $35.00 to $40.00 and gave the stock an "underweight" rating in a research report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $48.25.

Bank OZK Trading Down 0.3 %

OZK opened at $41.60 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. The company's 50 day simple moving average is $46.51 and its two-hundred day simple moving average is $44.08. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 6.84 and a beta of 1.20. Bank OZK has a 1-year low of $37.43 and a 1-year high of $51.50.

Bank OZK (NASDAQ:OZK - Get Free Report) last announced its earnings results on Thursday, October 17th. The company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.02. The company had revenue of $423.00 million during the quarter, compared to analyst estimates of $419.08 million. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. Analysts expect that Bank OZK will post 6.03 EPS for the current fiscal year.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 14th will be issued a dividend of $0.42 per share. The ex-dividend date is Tuesday, January 14th. This represents a $1.68 dividend on an annualized basis and a yield of 4.04%. This is a boost from Bank OZK's previous quarterly dividend of $0.41. Bank OZK's dividend payout ratio (DPR) is presently 27.63%.

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.