Wolverine Asset Management LLC Sells 7,096 Shares of Bank OZK (NASDAQ:OZK)

Wolverine Asset Management LLC cut its holdings in Bank OZK (NASDAQ:OZK) by 30.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 15,891 shares of the company’s stock after selling 7,096 shares during the period. Wolverine Asset Management LLC’s holdings in Bank OZK were worth $708,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Bank OZK in the 4th quarter worth about $27,000. Kestra Investment Management LLC bought a new position in shares of Bank OZK in the 4th quarter worth about $27,000. Assetmark Inc. grew its stake in shares of Bank OZK by 73.8% in the 3rd quarter. Assetmark Inc. now owns 968 shares of the company’s stock valued at $42,000 after buying an additional 411 shares during the period. V Square Quantitative Management LLC grew its stake in shares of Bank OZK by 81.3% in the 4th quarter. V Square Quantitative Management LLC now owns 948 shares of the company’s stock valued at $42,000 after buying an additional 425 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Bank OZK in the 3rd quarter valued at about $61,000. 86.18% of the stock is owned by institutional investors.

Bank OZK Price Performance

OZK stock opened at $47.45 on Friday. The company has a market capitalization of $5.38 billion, a P/E ratio of 7.73 and a beta of 1.20. 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 $37.43 and a 52-week high of $53.64. The business has a 50-day simple moving average of $47.78 and a two-hundred day simple moving average of $45.46.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings results on Thursday, January 16th. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.12. The business had revenue of $412.34 million during the quarter, compared to the consensus estimate of $407.19 million. Bank OZK had a return on equity of 13.90% and a net margin of 25.83%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.50 EPS. Research analysts expect that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 14th were given a dividend of $0.42 per share. The ex-dividend date was Tuesday, January 14th. This represents a $1.68 annualized dividend and a dividend yield of 3.54%. This is a boost from Bank OZK’s previous quarterly dividend of $0.41. Bank OZK’s dividend payout ratio (DPR) is currently 27.36%.

Analysts Set New Price Targets

OZK has been the subject of several research reports. Wells Fargo & Company upgraded Bank OZK from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $40.00 to $48.00 in a research note on Tuesday, January 21st. Stephens raised their target price on Bank OZK from $53.00 to $57.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Finally, UBS Group initiated coverage on Bank OZK in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Bank OZK presently has a consensus rating of “Hold” and a consensus price target of $50.00.

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.