Bank OZK $OZK Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its position in Bank OZK (NASDAQ:OZK) by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,874 shares of the company’s stock after selling 485 shares during the quarter. State of Alaska Department of Revenue’s holdings in Bank OZK were worth $558,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in OZK. CX Institutional bought a new stake in shares of Bank OZK in the first quarter worth $30,000. Summit Securities Group LLC bought a new stake in shares of Bank OZK in the first quarter worth $32,000. Brooklyn Investment Group increased its stake in shares of Bank OZK by 1,114.3% in the first quarter. Brooklyn Investment Group now owns 1,105 shares of the company’s stock worth $48,000 after buying an additional 1,014 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Bank OZK by 70.8% in the second quarter. Parallel Advisors LLC now owns 1,124 shares of the company’s stock worth $53,000 after buying an additional 466 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Bank OZK by 2,014.3% in the 1st quarter. UMB Bank n.a. now owns 1,480 shares of the company’s stock valued at $64,000 after purchasing an additional 1,410 shares in the last quarter. Institutional investors and hedge funds own 86.18% of the company’s stock.

Bank OZK Stock Performance

OZK stock opened at $52.03 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $5.92 billion, a price-to-earnings ratio of 8.45 and a beta of 0.88. Bank OZK has a 1 year low of $35.71 and a 1 year high of $53.66. The stock’s fifty day moving average is $51.04 and its two-hundred day moving average is $47.38.

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

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Tuesday, October 14th will be paid a $0.45 dividend. The ex-dividend date is Tuesday, October 14th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.44. This represents a $1.80 dividend on an annualized basis and a yield of 3.5%. Bank OZK’s dividend payout ratio (DPR) is 28.57%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OZK. Morgan Stanley increased their price target on shares of Bank OZK from $55.00 to $63.00 and gave the stock an “underperform” rating in a research report on Monday, September 29th. Stephens raised shares of Bank OZK from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $58.00 to $65.00 in a research report on Wednesday, August 20th. Cowen began coverage on shares of Bank OZK in a research report on Wednesday, September 24th. They set a “buy” rating on the stock. Raymond James Financial raised shares of Bank OZK from a “market perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a research report on Tuesday, July 8th. Finally, TD Cowen started coverage on shares of Bank OZK in a research report on Thursday, September 25th. They set a “buy” rating and a $67.00 price target on the stock. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $57.80.

About Bank OZK

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.