Quantbot Technologies LP reduced its stake in shares of Bank OZK (NASDAQ:OZK - Free Report) by 18.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,943 shares of the company's stock after selling 50,189 shares during the period. Quantbot Technologies LP owned about 0.19% of Bank OZK worth $9,794,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in Bank OZK by 7.3% during the 3rd quarter. State Street Corp now owns 7,106,907 shares of the company's stock worth $305,526,000 after acquiring an additional 485,172 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Bank OZK by 32.7% in the 3rd quarter. Wellington Management Group LLP now owns 4,223,452 shares of the company's stock worth $181,566,000 after buying an additional 1,041,198 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Bank OZK by 4.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,130,006 shares of the company's stock worth $183,909,000 after buying an additional 188,575 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Bank OZK by 6.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,022,979 shares of the company's stock worth $86,989,000 after buying an additional 126,352 shares during the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of Bank OZK by 124.6% in the 3rd quarter. Captrust Financial Advisors now owns 1,698,856 shares of the company's stock worth $73,034,000 after buying an additional 942,309 shares during the last quarter. 86.18% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on OZK shares. UBS Group started coverage on shares of Bank OZK in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $51.00 price target on the stock. Stephens raised their price target on shares of Bank OZK from $53.00 to $57.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 21st. Morgan Stanley reduced their price target 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, Wells Fargo & Company upgraded shares of Bank OZK from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $40.00 to $48.00 in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Bank OZK currently has an average rating of "Hold" and an average target price of $50.38.
Read Our Latest Stock Analysis on Bank OZK
Bank OZK Stock Performance
NASDAQ:OZK traded down $0.07 during mid-day 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 stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of 7.20 and a beta of 1.23. The company has a 50 day simple moving average of $48.11 and a 200-day simple moving average of $45.93. Bank OZK has a 52 week low of $37.43 and a 52 week high of $53.64. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.16.
Bank OZK (NASDAQ:OZK - Get Free Report) last released its earnings results on Thursday, January 16th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.44 by $0.12. The firm had revenue of $412.34 million for the quarter, compared to analysts' expectations of $407.19 million. Bank OZK had a net margin of 25.83% and a return on equity of 13.90%. Bank OZK's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company earned $1.50 EPS. On average, research analysts expect that Bank OZK will post 6.02 earnings per share for the current fiscal year.
Bank OZK Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 14th were paid a dividend of $0.42 per share. This is a boost from Bank OZK's previous quarterly dividend of $0.41. The ex-dividend date was Tuesday, January 14th. This represents a $1.68 annualized dividend and a yield of 3.80%. Bank OZK's dividend payout ratio (DPR) is presently 27.36%.
Bank OZK Company Profile
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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.
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