Northern Trust Corp Sells 22,193 Shares of Bank OZK $OZK

Northern Trust Corp lessened its stake in shares of Bank OZK (NASDAQ:OZK) by 2.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 993,660 shares of the company’s stock after selling 22,193 shares during the period. Northern Trust Corp owned about 0.88% of Bank OZK worth $43,175,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. raised its holdings in Bank OZK by 4.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,693 shares of the company’s stock worth $1,029,000 after acquiring an additional 1,086 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Bank OZK by 55.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 129,980 shares of the company’s stock valued at $5,639,000 after buying an additional 46,349 shares during the period. Bank of New York Mellon Corp raised its stake in Bank OZK by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 1,127,576 shares of the company’s stock valued at $48,993,000 after buying an additional 23,492 shares during the period. PNC Financial Services Group Inc. raised its stake in Bank OZK by 13.4% in the first quarter. PNC Financial Services Group Inc. now owns 6,614 shares of the company’s stock valued at $287,000 after buying an additional 782 shares during the period. Finally, GAMMA Investing LLC raised its stake in Bank OZK by 5,021.2% in the first quarter. GAMMA Investing LLC now owns 243,668 shares of the company’s stock valued at $10,587,000 after buying an additional 238,910 shares during the period. Institutional investors own 86.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Wells Fargo & Company upped their price objective on Bank OZK from $48.00 to $49.00 and gave the company an “equal weight” rating in a research note on Monday, July 21st. Raymond James Financial upgraded Bank OZK from a “market perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a research note on Tuesday, July 8th. Finally, Stephens upgraded Bank OZK from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $58.00 to $65.00 in a research note on Wednesday, August 20th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Bank OZK presently has an average rating of “Hold” and an average price target of $54.25.

Bank OZK Price Performance

Shares of NASDAQ OZK opened at $52.63 on Friday. The firm has a market cap of $5.99 billion, a P/E ratio of 8.54 and a beta of 0.86. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.23. Bank OZK has a 1-year low of $35.71 and a 1-year high of $53.66. The business’s 50 day moving average is $50.02 and its 200-day moving average is $46.43.

Bank OZK (NASDAQ:OZK) last announced its earnings results on Thursday, July 17th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.07. The company had revenue of $428.04 million for the quarter, compared to analyst estimates of $423.41 million. Bank OZK had a return on equity of 13.24% and a net margin of 25.83%.During the same quarter last year, the company earned $1.52 earnings per share. Equities research analysts predict that Bank OZK will post 6.02 earnings per share for the current year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Friday, July 11th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.3%. This is an increase from Bank OZK’s previous quarterly dividend of $0.43. The ex-dividend date was Friday, July 11th. Bank OZK’s dividend payout ratio is 28.57%.

Bank OZK Company 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.