Principal Financial Group Inc. Sells 107,903 Shares of Bank OZK (NASDAQ:OZK)

Principal Financial Group Inc. trimmed its holdings in shares of Bank OZK (NASDAQ:OZK - Free Report) by 30.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 248,390 shares of the company's stock after selling 107,903 shares during the period. Principal Financial Group Inc. owned about 0.22% of Bank OZK worth $10,678,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its holdings in Bank OZK by 291.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,371,892 shares of the company's stock worth $95,848,000 after acquiring an additional 1,765,974 shares during the last quarter. Millennium Management LLC grew its position in Bank OZK by 196.4% during the second quarter. Millennium Management LLC now owns 1,365,393 shares of the company's stock worth $55,981,000 after buying an additional 904,782 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Bank OZK by 483.9% during the second quarter. Victory Capital Management Inc. now owns 980,358 shares of the company's stock worth $40,195,000 after purchasing an additional 812,464 shares in the last quarter. Berkley W R Corp bought a new position in shares of Bank OZK in the 2nd quarter worth $24,600,000. Finally, D. E. Shaw & Co. Inc. increased its stake in Bank OZK by 115.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 715,844 shares of the company's stock valued at $29,350,000 after acquiring an additional 382,896 shares during the last quarter. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

Bank OZK Trading Down 0.5 %

Shares of NASDAQ OZK traded down $0.26 during trading hours on Monday, hitting $48.23. The company's stock had a trading volume of 1,591,529 shares, compared to its average volume of 1,286,536. Bank OZK has a 12 month low of $37.43 and a 12 month high of $52.36. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 7.97 and a beta of 1.16. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. The business has a 50-day simple moving average of $43.65 and a 200-day simple moving average of $43.17.

Bank OZK (NASDAQ:OZK - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The company reported $1.55 earnings per share for the quarter, topping analysts' consensus estimates of $1.53 by $0.02. The firm had revenue of $423.00 million for the quarter, compared to analyst estimates of $419.08 million. Bank OZK had a return on equity of 14.15% and a net margin of 26.07%. On average, analysts anticipate that Bank OZK will post 6.03 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 11th were issued a $0.41 dividend. The ex-dividend date was Friday, October 11th. This is a positive change from Bank OZK's previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 3.40%. Bank OZK's dividend payout ratio is 26.97%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on OZK. Truist Financial dropped 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. Morgan Stanley upped their price objective on shares of 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 lifted their target price on shares of Bank OZK from $58.00 to $63.00 and gave the stock an "overweight" rating in a research report on Friday, October 18th. Stephens upped their price target on shares of 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 cut Bank OZK from an "outperform" rating to a "market perform" rating in a research note on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, seven 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 a consensus rating of "Hold" and an average price target of $48.50.

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.