Raymond James & Associates Sells 378,632 Shares of Bank OZK (NASDAQ:OZK)

Raymond James & Associates reduced its holdings in Bank OZK (NASDAQ:OZK) by 61.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 236,849 shares of the company’s stock after selling 378,632 shares during the quarter. Raymond James & Associates owned about 0.21% of Bank OZK worth $9,711,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Bank OZK during the 4th quarter worth about $56,293,000. Vanguard Group Inc. grew its stake in Bank OZK by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 12,028,779 shares of the company’s stock valued at $599,394,000 after acquiring an additional 502,005 shares during the period. Wellington Management Group LLP increased its holdings in shares of Bank OZK by 18.8% during the fourth quarter. Wellington Management Group LLP now owns 1,897,696 shares of the company’s stock valued at $94,562,000 after acquiring an additional 300,025 shares in the last quarter. Epoch Investment Partners Inc. acquired a new position in shares of Bank OZK during the fourth quarter worth approximately $10,624,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Bank OZK by 136.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 359,814 shares of the company’s stock worth $17,930,000 after purchasing an additional 207,341 shares in the last quarter. 86.18% of the stock is owned by institutional investors and hedge funds.

Bank OZK Stock Up 4.6 %

OZK stock opened at $43.51 on Monday. The stock has a market cap of $4.94 billion, a P/E ratio of 7.29 and a beta of 1.20. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.17. The stock’s fifty day simple moving average is $42.22 and its two-hundred day simple moving average is $43.28. Bank OZK has a 1-year low of $34.76 and a 1-year high of $52.36.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $1.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.52. Bank OZK had a net margin of 27.04% and a return on equity of 14.50%. The company had revenue of $416.78 million for the quarter, compared to the consensus estimate of $414.39 million. During the same period in the previous year, the firm earned $1.47 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts expect that Bank OZK will post 6.01 EPS for the current year.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 12th were given a dividend of $0.40 per share. This is an increase from Bank OZK’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date was Friday, July 12th. Bank OZK’s dividend payout ratio is currently 26.80%.

Wall Street Analyst Weigh In

OZK has been the topic of several research reports. Truist Financial upped their price objective on shares of Bank OZK from $41.00 to $49.00 and gave the stock a “hold” rating in a report on Monday, July 22nd. Wells Fargo & Company dropped their price target on shares of Bank OZK from $39.00 to $35.00 and set an “underweight” rating on the stock in a research report on Thursday, June 6th. StockNews.com raised Bank OZK from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Morgan Stanley raised their target price on Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Finally, Citigroup downgraded Bank OZK from a “buy” rating to a “sell” rating and decreased their price target for the stock from $57.00 to $37.00 in a report on Wednesday, May 29th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.71.

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.