Wasatch Advisors LP Sells 119,097 Shares of Bank OZK (NASDAQ:OZK)

Wasatch Advisors LP lowered its holdings in shares of Bank OZK (NASDAQ:OZK) by 1.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,261,517 shares of the company’s stock after selling 119,097 shares during the period. Bank OZK makes up about 1.8% of Wasatch Advisors LP’s holdings, making the stock its 14th biggest position. Wasatch Advisors LP owned 6.59% of Bank OZK worth $282,544,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Lazard Asset Management LLC purchased a new position in Bank OZK in the first quarter valued at about $25,000. Geneos Wealth Management Inc. increased its stake in Bank OZK by 94.0% in the first quarter. Geneos Wealth Management Inc. now owns 776 shares of the company’s stock valued at $33,000 after acquiring an additional 376 shares during the last quarter. Covestor Ltd raised its stake in shares of Bank OZK by 56.6% during the first quarter. Covestor Ltd now owns 896 shares of the company’s stock worth $38,000 after acquiring an additional 324 shares in the last quarter. Coppell Advisory Solutions Corp. bought a new stake in shares of Bank OZK in the 4th quarter valued at about $42,000. Finally, Point72 Asset Management L.P. purchased a new stake in Bank OZK during the 4th quarter valued at about $52,000. Institutional investors own 84.84% of the company’s stock.

Bank OZK Trading Down 0.5 %

OZK stock traded down $0.19 during trading on Friday, hitting $38.38. The company had a trading volume of 61,729 shares, compared to its average volume of 1,590,156. The company has a 50 day simple moving average of $41.46 and a 200-day simple moving average of $38.60. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. Bank OZK has a 52-week low of $30.72 and a 52-week high of $49.52. The firm has a market capitalization of $4.81 billion, a P/E ratio of 7.28 and a beta of 1.44.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings results on Friday, July 21st. The company reported $1.47 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.01). The business had revenue of $388.81 million during the quarter, compared to analyst estimates of $374.41 million. Bank OZK had a return on equity of 14.60% and a net margin of 35.47%. Bank OZK’s revenue was up 33.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.10 EPS. As a group, research analysts forecast that Bank OZK will post 5.75 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Friday, July 14th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend was Thursday, July 13th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.35. Bank OZK’s payout ratio is presently 27.17%.

Analyst Ratings Changes

OZK has been the topic of several recent research reports. StockNews.com initiated coverage on Bank OZK in a research note on Thursday, August 17th. They issued a “sell” rating on the stock. Morgan Stanley reissued an “equal weight” rating and issued a $35.00 target price on shares of Bank OZK in a research note on Monday, July 24th. Truist Financial boosted their price objective on shares of Bank OZK from $43.00 to $46.00 and gave the stock a “hold” rating in a report on Tuesday, July 25th. Finally, Stephens lifted their target price on Bank OZK from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $40.50.

Bank OZK Company Profile

Bank OZK provides various retail and commercial banking services. The company accepts various deposit products, including non-interest-bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time deposits. It also offers real estate, consumer and business purpose, indirect recreational vehicle and marine, commercial and industrial, government guaranteed, agricultural equipment, small business, lines of credit, homebuilder, and affordable housing loans; business aviation and subscription financing services; and mortgage and other lending products.