Wellington Management Group LLP Sells 1,230,164 Shares of Bank OZK (NASDAQ:OZK)

Wellington Management Group LLP lessened its holdings in Bank OZK (NASDAQ:OZK - Free Report) by 29.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,993,288 shares of the company's stock after selling 1,230,164 shares during the period. Wellington Management Group LLP owned about 2.64% of Bank OZK worth $133,291,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Bank OZK by 2.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 298,222 shares of the company's stock valued at $12,821,000 after purchasing an additional 5,812 shares in the last quarter. Verition Fund Management LLC lifted its position in shares of Bank OZK by 68.6% during the 3rd quarter. Verition Fund Management LLC now owns 34,869 shares of the company's stock valued at $1,499,000 after buying an additional 14,189 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Bank OZK during the 3rd quarter valued at about $199,000. Benjamin Edwards Inc. grew its stake in shares of Bank OZK by 50.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 7,372 shares of the company's stock valued at $317,000 after acquiring an additional 2,474 shares during the period. Finally, HighTower Advisors LLC purchased a new stake in Bank OZK in the 3rd quarter worth approximately $392,000. Hedge funds and other institutional investors own 86.18% of the company's stock.

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Analyst Upgrades and Downgrades

OZK has been the topic of several analyst reports. Wells Fargo & Company raised shares of Bank OZK from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $40.00 to $48.00 in a report on Tuesday, January 21st. Stephens lifted their target price on shares of Bank OZK from $53.00 to $57.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 21st. UBS Group began coverage on Bank OZK in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $51.00 price target for the company. Finally, Morgan Stanley lowered their price objective on 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Bank OZK currently has a consensus rating of "Hold" and a consensus target price of $50.38.

Bank OZK Price Performance

Shares of OZK traded up $1.21 during midday trading on Tuesday, hitting $39.37. 308,185 shares of the company traded hands, compared to its average volume of 1,295,731. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 6.41 and a beta of 1.05. The firm has a 50 day moving average of $47.02 and a 200-day moving average of $46.09. 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 52 week low of $35.80 and a 52 week high of $53.64.

Bank OZK (NASDAQ:OZK - Get Free Report) last announced its quarterly earnings results on Thursday, January 16th. The company reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.44 by $0.12. Bank OZK had a return on equity of 13.90% and a net margin of 25.83%. The company had revenue of $412.34 million during the quarter, compared to analyst estimates of $407.19 million. During the same period in the prior year, the company earned $1.50 earnings per share. The firm's revenue was up 1.2% on a year-over-year basis. On average, analysts forecast that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 14th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Monday, April 14th. This is a positive change from Bank OZK's previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.37%. Bank OZK's dividend payout ratio (DPR) is 28.01%.

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.