Bank of America Corp DE Sells 361,856 Shares of Bank OZK (NASDAQ:OZK)

Bank of America Corp DE trimmed its position in Bank OZK (NASDAQ:OZK) by 67.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 175,032 shares of the company’s stock after selling 361,856 shares during the quarter. Bank of America Corp DE owned approximately 0.15% of Bank OZK worth $7,794,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of OZK. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Bank OZK during the fourth quarter valued at about $27,000. Kestra Investment Management LLC purchased a new stake in Bank OZK in the fourth quarter worth about $27,000. Smartleaf Asset Management LLC boosted its holdings in Bank OZK by 176.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 761 shares of the company’s stock worth $34,000 after buying an additional 486 shares during the period. V Square Quantitative Management LLC boosted its position in shares of Bank OZK by 81.3% during the fourth quarter. V Square Quantitative Management LLC now owns 948 shares of the company’s stock worth $42,000 after acquiring an additional 425 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Bank OZK during the 4th quarter valued at approximately $54,000. Institutional investors own 86.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on OZK. Stephens decreased their price objective on shares of Bank OZK from $59.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. Keefe, Bruyette & Woods reduced their price objective on Bank OZK from $50.00 to $48.00 and set a “market perform” rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company decreased their price objective on shares of Bank OZK from $48.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. Finally, Morgan Stanley dropped their price objective on shares of Bank OZK from $58.00 to $54.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $49.13.

Bank OZK Stock Down 0.6%

OZK stock opened at $44.44 on Monday. The company has a market capitalization of $5.04 billion, a P/E ratio of 7.24 and a beta of 0.85. The firm has a 50 day simple moving average of $42.82 and a 200-day simple moving average of $45.88. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.16. Bank OZK has a twelve month low of $35.71 and a twelve month high of $53.64.

Bank OZK (NASDAQ:OZK) last posted its earnings results on Wednesday, April 16th. The company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.42 by $0.05. The firm had revenue of $409.23 million during the quarter, compared to analysts’ expectations of $403.05 million. Bank OZK had a net margin of 25.83% and a return on equity of 13.90%. During the same quarter in the prior year, the firm earned $1.51 EPS. On average, equities research analysts predict that Bank OZK will post 6.02 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 14th were given a dividend of $0.43 per share. The ex-dividend date was Monday, April 14th. This is an increase from Bank OZK’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 3.87%. Bank OZK’s payout ratio is presently 28.20%.

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.