DekaBank Deutsche Girozentrale Reduces Stock Holdings in Bank OZK (NASDAQ:OZK)

DekaBank Deutsche Girozentrale lowered its holdings in shares of Bank OZK (NASDAQ:OZK) by 48.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,661 shares of the company’s stock after selling 7,077 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Bank OZK were worth $305,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Bank OZK during the fourth quarter valued at $56,293,000. Victory Capital Management Inc. lifted its position in shares of Bank OZK by 483.9% during the 2nd quarter. Victory Capital Management Inc. now owns 980,358 shares of the company’s stock valued at $40,195,000 after buying an additional 812,464 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Bank OZK by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 12,028,779 shares of the company’s stock valued at $599,394,000 after acquiring an additional 502,005 shares during the period. Wellington Management Group LLP increased its holdings in Bank OZK by 18.8% in the 4th quarter. Wellington Management Group LLP now owns 1,897,696 shares of the company’s stock worth $94,562,000 after acquiring an additional 300,025 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Bank OZK by 21.9% during the 2nd quarter. American Century Companies Inc. now owns 1,642,293 shares of the company’s stock worth $67,334,000 after acquiring an additional 295,298 shares during the period. Institutional investors own 86.18% of the company’s stock.

Bank OZK Stock Performance

NASDAQ:OZK opened at $42.76 on Friday. The company has a market cap of $4.85 billion, a price-to-earnings ratio of 7.16 and a beta of 1.17. Bank OZK has a 1 year low of $34.76 and a 1 year high of $52.36. The stock’s 50 day simple moving average is $42.90 and its two-hundred day simple moving average is $43.17. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.02 and a quick ratio of 1.02.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings results on Wednesday, July 17th. The company reported $1.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.52. Bank OZK had a net margin of 27.04% and a return on equity of 14.50%. The company had revenue of $416.78 million for the quarter, compared to the consensus estimate of $414.39 million. During the same quarter in the prior year, the firm earned $1.47 earnings per share. Bank OZK’s revenue was up 7.2% on a year-over-year basis. As a group, equities analysts anticipate that Bank OZK will post 6.01 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 19th. Investors of record on Friday, July 12th were given a $0.40 dividend. The ex-dividend date was Friday, July 12th. This represents a $1.60 annualized dividend and a yield of 3.74%. This is a positive change from Bank OZK’s previous quarterly dividend of $0.39. Bank OZK’s dividend payout ratio (DPR) is currently 26.80%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on OZK shares. Morgan Stanley upped their price target on shares of Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Truist Financial cut their price target on Bank OZK from $49.00 to $48.00 and set a “hold” rating for the company in a research note on Friday. Wells Fargo & Company lowered their price objective on Bank OZK from $39.00 to $35.00 and set an “underweight” rating on the stock in a research report on Thursday, June 6th. Citigroup lowered Bank OZK from a “buy” rating to a “sell” rating and dropped their price objective for the stock from $57.00 to $37.00 in a research note on Wednesday, May 29th. Finally, Raymond James downgraded Bank OZK from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $46.57.

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.