Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of Bank OZK (NASDAQ:OZK – Get Rating) by 93.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 16,594 shares of the company's stock after selling 220,883 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Bank OZK were worth $709,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in Bank OZK by 7.1% in the 4th quarter. JPMorgan Chase & Co. now owns 381,383 shares of the company's stock worth $17,746,000 after acquiring an additional 25,183 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Bank OZK by 8.0% in the 4th quarter. Renaissance Technologies LLC now owns 261,997 shares of the company's stock worth $12,191,000 after acquiring an additional 19,500 shares during the last quarter. Geode Capital Management LLC grew its position in Bank OZK by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 1,616,195 shares of the company's stock worth $75,201,000 after purchasing an additional 32,174 shares during the period. Gotham Asset Management LLC grew its position in Bank OZK by 53.0% in the 4th quarter. Gotham Asset Management LLC now owns 11,432 shares of the company's stock worth $532,000 after purchasing an additional 3,962 shares during the period. Finally, LPL Financial LLC grew its position in Bank OZK by 1.8% in the 4th quarter. LPL Financial LLC now owns 264,947 shares of the company's stock worth $12,328,000 after purchasing an additional 4,628 shares during the period. 78.68% of the stock is currently owned by hedge funds and other institutional investors.
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Analyst Ratings Changes
OZK has been the subject of a number of research analyst reports. Raymond James downgraded shares of Bank OZK from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 7th. Piper Sandler cut their target price on shares of Bank OZK to $54.00 in a research report on Friday, July 22nd. Wells Fargo & Company downgraded shares of Bank OZK from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $58.00 to $42.00 in a research report on Thursday, July 7th. Stephens boosted their price objective on shares of Bank OZK to $45.00 in a research report on Tuesday, July 26th. Finally, UBS Group cut their price objective on shares of Bank OZK from $48.00 to $44.00 and set a "neutral" rating for the company in a research report on Friday, July 29th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $47.88.
Bank OZK Stock Down 1.8 %
OZK opened at $39.52 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 0.98. Bank OZK has a fifty-two week low of $34.79 and a fifty-two week high of $51.39. The firm's fifty day moving average is $40.88 and its 200 day moving average is $40.32. The stock has a market cap of $4.96 billion, a price-to-earnings ratio of 9.21 and a beta of 1.44.
Bank OZK (NASDAQ:OZK – Get Rating) last released its earnings results on Thursday, July 21st. The company reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $1.02 by $0.08. Bank OZK had a net margin of 45.73% and a return on equity of 12.42%. The company had revenue of $292.11 million for the quarter, compared to analysts' expectations of $285.40 million. During the same quarter in the previous year, the company earned $1.16 EPS. On average, sell-side analysts forecast that Bank OZK will post 4.49 earnings per share for the current fiscal year.
Bank OZK Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, July 22nd. Shareholders of record on Friday, July 15th were paid a $0.32 dividend. The ex-dividend date of this dividend was Thursday, July 14th. This represents a $1.28 annualized dividend and a yield of 3.24%. This is a boost from Bank OZK's previous quarterly dividend of $0.31. Bank OZK's payout ratio is presently 29.84%.
Bank OZK Company Profile
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Bank OZK provides various retail and commercial banking services. It accepts various deposit products, including non-interest-bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time deposits. The company also offers real estate, consumer and business purpose, indirect recreational vehicle and marine, commercial and industrial, government guaranteed, agricultural, small business, homebuilder, and affordable housing loans; business aviation and subscription financing services; and mortgage and other lending products.
Further Reading
- Get a free copy of the StockNews.com research report on Bank OZK (OZK)
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