Bank OZK (NASDAQ:OZK) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its holdings in shares of Bank OZK (NASDAQ:OZK) by 21.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 135,948 shares of the company’s stock after selling 37,314 shares during the period. Russell Investments Group Ltd. owned approximately 0.12% of Bank OZK worth $6,774,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Qube Research & Technologies Ltd purchased a new position in Bank OZK during the third quarter valued at $10,788,000. Comerica Bank purchased a new position in Bank OZK in the 3rd quarter valued at about $4,252,000. Pathstone Family Office LLC purchased a new position in Bank OZK in the 3rd quarter valued at about $667,000. Redmont Wealth Advisors LLC boosted its holdings in Bank OZK by 36.9% in the 4th quarter. Redmont Wealth Advisors LLC now owns 16,542 shares of the company’s stock worth $824,000 after buying an additional 4,462 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in Bank OZK by 58.1% during the 3rd quarter. Treasurer of the State of North Carolina now owns 78,595 shares of the company’s stock worth $2,914,000 after buying an additional 28,893 shares in the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Bank OZK Stock Performance

Shares of Bank OZK stock opened at $47.30 on Thursday. The firm has a market cap of $5.35 billion, a PE ratio of 7.92 and a beta of 1.24. The company has a quick ratio of 1.03, a current ratio of 1.01 and a debt-to-equity ratio of 0.14. Bank OZK has a 52 week low of $30.72 and a 52 week high of $52.36. The business’s fifty day simple moving average is $44.37 and its 200-day simple moving average is $44.15.

Bank OZK (NASDAQ:OZK) last announced its earnings results on Thursday, April 18th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.07. Bank OZK had a net margin of 28.54% and a return on equity of 14.84%. The company had revenue of $406.02 million during the quarter, compared to analyst estimates of $396.81 million. During the same quarter last year, the firm posted $1.41 earnings per share. Equities analysts forecast that Bank OZK will post 6.04 earnings per share for the current year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 12th were given a $0.39 dividend. This is a positive change from Bank OZK’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, April 11th. This represents a $1.56 dividend on an annualized basis and a yield of 3.30%. Bank OZK’s payout ratio is presently 26.13%.

Wall Street Analyst Weigh In

Several brokerages recently commented on OZK. Truist Financial dropped their price target on Bank OZK from $48.00 to $47.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. StockNews.com downgraded shares of Bank OZK from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Keefe, Bruyette & Woods upped their price objective on shares of Bank OZK from $45.00 to $47.00 and gave the company a “market perform” rating in a research note on Monday, April 22nd. Wells Fargo & Company decreased their target price on shares of Bank OZK from $41.00 to $39.00 and set an “underweight” rating on the stock in a research note on Thursday, February 1st. Finally, Citigroup dropped their price target on Bank OZK from $62.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $49.14.

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.