Wasatch Advisors LP Decreases Position in Bank OZK (NASDAQ:OZK)

Wasatch Advisors LP decreased its holdings in shares of Bank OZK (NASDAQ:OZK) by 5.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,952,777 shares of the company’s stock after selling 318,208 shares during the quarter. Wasatch Advisors LP owned 5.25% of Bank OZK worth $255,910,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Edgestream Partners L.P. grew its stake in shares of Bank OZK by 129.4% during the third quarter. Edgestream Partners L.P. now owns 161,291 shares of the company’s stock valued at $6,934,000 after buying an additional 90,977 shares during the last quarter. Verition Fund Management LLC grew its stake in shares of Bank OZK by 68.6% during the third 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 during the last quarter. Captrust Financial Advisors grew its stake in shares of Bank OZK by 124.6% during the third quarter. Captrust Financial Advisors now owns 1,698,856 shares of the company’s stock valued at $73,034,000 after buying an additional 942,309 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 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 buying an additional 5,812 shares during the last quarter. Finally, De Lisle Partners LLP grew its stake in shares of Bank OZK by 37.5% during the third quarter. De Lisle Partners LLP now owns 44,000 shares of the company’s stock valued at $1,892,000 after buying an additional 12,000 shares during the last quarter. Institutional investors own 86.18% of the company’s stock.

Bank OZK Stock Up 0.1 %

Bank OZK stock opened at $49.97 on Friday. The business has a fifty day moving average of $45.19 and a two-hundred day moving average of $43.36. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12. The firm has a market cap of $5.67 billion, a P/E ratio of 8.22 and a beta of 1.16. Bank OZK has a twelve month low of $37.43 and a twelve month high of $52.36.

Bank OZK (NASDAQ:OZK) last posted its earnings results 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 company had revenue of $423.00 million during 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 forecast that Bank OZK will post 6.03 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 11th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend was Friday, October 11th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.40. Bank OZK’s dividend payout ratio is currently 26.97%.

Analysts Set New Price Targets

A number of research analysts have recently commented on OZK shares. Morgan Stanley upped their target price on Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Raymond James cut Bank OZK from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. Truist Financial dropped their price objective on Bank OZK from $48.00 to $46.00 and set a “hold” rating on the stock in a research note on Monday, October 21st. Stephens increased their price objective on Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Finally, Piper Sandler increased their price objective on Bank OZK from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Two 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. Based on data from MarketBeat.com, Bank OZK currently has a consensus rating of “Hold” and an average price target of $48.50.

About Bank OZK

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.