Strs Ohio Sells 8,468 Shares of Bank OZK (NASDAQ:OZK)

Strs Ohio reduced its holdings in shares of Bank OZK (NASDAQ:OZK – Get Rating) by 20.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,849 shares of the company’s stock after selling 8,468 shares during the quarter. Strs Ohio’s holdings in Bank OZK were worth $1,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp lifted its holdings in Bank OZK by 14.4% in the second quarter. State Street Corp now owns 12,251,944 shares of the company’s stock valued at $459,815,000 after acquiring an additional 1,539,531 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Bank OZK by 6.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,565,671 shares of the company’s stock valued at $109,555,000 after acquiring an additional 156,127 shares during the period. Copeland Capital Management LLC lifted its holdings in Bank OZK by 0.9% in the third quarter. Copeland Capital Management LLC now owns 1,568,195 shares of the company’s stock valued at $62,038,000 after acquiring an additional 14,491 shares during the period. Millennium Management LLC lifted its holdings in Bank OZK by 168.3% in the second quarter. Millennium Management LLC now owns 641,095 shares of the company’s stock valued at $24,060,000 after acquiring an additional 402,167 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in Bank OZK by 22.2% in the second quarter. ProShare Advisors LLC now owns 589,407 shares of the company’s stock valued at $22,121,000 after acquiring an additional 107,267 shares during the period. 76.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. StockNews.com assumed coverage on Bank OZK in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Stephens upped their price target on Bank OZK from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Monday, October 24th. Keefe, Bruyette & Woods reduced their price target on Bank OZK from $45.00 to $40.00 and set a “market perform” rating for the company in a research report on Wednesday, January 4th. Morgan Stanley assumed coverage on Bank OZK in a research report on Monday, December 5th. They issued an “equal weight” rating and a $48.00 price target for the company. Finally, UBS Group upped their price target on Bank OZK to $48.00 in a research report on Wednesday, November 16th. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Bank OZK presently has an average rating of “Hold” and a consensus price target of $46.44.

Bank OZK Stock Performance

NASDAQ:OZK opened at $42.15 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.22. Bank OZK has a 12-month low of $34.79 and a 12-month high of $50.74. The stock has a 50-day moving average price of $42.84 and a 200 day moving average price of $41.38. The stock has a market capitalization of $5.29 billion, a P/E ratio of 9.65 and a beta of 1.38.

Bank OZK (NASDAQ:OZK – Get Rating) last announced its quarterly earnings results on Thursday, October 20th. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.10). Bank OZK had a net margin of 43.58% and a return on equity of 12.72%. The firm had revenue of $323.78 million for the quarter, compared to the consensus estimate of $305.09 million. During the same period in the previous year, the company posted $1.00 earnings per share. Bank OZK’s quarterly revenue was up 18.2% on a year-over-year basis. Equities research analysts forecast that Bank OZK will post 4.5 EPS for the current fiscal year.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 24th. Investors of record on Tuesday, January 17th will be paid a dividend of $0.34 per share. The ex-dividend date is Friday, January 13th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a yield of 3.23%. Bank OZK’s dividend payout ratio is presently 30.21%.

About Bank OZK

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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.