Nuveen Asset Management LLC Trims Stake in Bank OZK (NASDAQ:OZK)

Nuveen Asset Management LLC reduced its position in shares of Bank OZK (NASDAQ:OZK – Get Rating) by 1.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 340,882 shares of the company’s stock after selling 6,133 shares during the period. Nuveen Asset Management LLC owned approximately 0.27% of Bank OZK worth $13,485,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. SeaCrest Wealth Management LLC purchased a new position in Bank OZK in the second quarter worth $150,000. Boston Partners grew its position in Bank OZK by 1.6% in the third quarter. Boston Partners now owns 30,277 shares of the company’s stock worth $1,198,000 after acquiring an additional 476 shares in the last quarter. AQR Capital Management LLC grew its position in Bank OZK by 75.5% in the second quarter. AQR Capital Management LLC now owns 548,600 shares of the company’s stock worth $20,040,000 after acquiring an additional 236,021 shares in the last quarter. SVB Wealth LLC purchased a new position in Bank OZK in the third quarter worth $501,000. Finally, Kovitz Investment Group Partners LLC grew its position in Bank OZK by 0.4% in the third quarter. Kovitz Investment Group Partners LLC now owns 121,944 shares of the company’s stock worth $4,824,000 after acquiring an additional 546 shares in the last quarter. 76.17% of the stock is currently owned by hedge funds and other institutional investors.

Bank OZK Stock Performance

Shares of NASDAQ:OZK opened at $42.28 on Wednesday. The company has a market cap of $5.30 billion, a price-to-earnings ratio of 9.31 and a beta of 1.42. The company has a 50-day moving average price of $44.05 and a 200-day moving average price of $42.95. The company has a current ratio of 1.00, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. Bank OZK has a 12 month low of $34.79 and a 12 month high of $49.52.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 24th. Stockholders of record on Tuesday, January 17th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 3.22%. This is an increase from Bank OZK’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, January 13th. Bank OZK’s dividend payout ratio is 29.96%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OZK. Keefe, Bruyette & Woods lowered their price target on shares of Bank OZK from $45.00 to $40.00 and set a “market perform” rating for the company in a research note on Wednesday, January 4th. Truist Financial boosted their price target on shares of Bank OZK from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Monday, January 23rd. UBS Group boosted their price target on shares of Bank OZK to $48.00 in a research note on Wednesday, November 16th. Finally, Morgan Stanley boosted their price target on shares of Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, January 23rd. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Bank OZK currently has an average rating of “Hold” and an average target price of $47.56.

Bank OZK Company Profile

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Bank OZK engages in the provision of community banking services. The firm offers deposit services such as checking, savings, money market, time deposit, and individual retirement accounts. It also provides loan services including types of real estate, consumer, commercial, industrial, and agricultural loans.