Bank OZK (NASDAQ:OZK) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its position in Bank OZK (NASDAQ:OZK) by 31.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,388 shares of the company’s stock after selling 4,658 shares during the quarter. Federated Hermes Inc.’s holdings in Bank OZK were worth $426,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in OZK. Goldman Sachs Group Inc. grew its position in shares of Bank OZK by 136.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 359,814 shares of the company’s stock worth $17,930,000 after acquiring an additional 207,341 shares during the last quarter. Pinebridge Investments L.P. increased its stake in Bank OZK by 77.3% in the fourth quarter. Pinebridge Investments L.P. now owns 188,600 shares of the company’s stock valued at $9,397,000 after purchasing an additional 82,233 shares during the period. M&G Plc purchased a new stake in shares of Bank OZK in the first quarter valued at about $8,437,000. State Board of Administration of Florida Retirement System boosted its stake in shares of Bank OZK by 27.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 140,492 shares of the company’s stock worth $6,387,000 after buying an additional 29,993 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Bank OZK during the second quarter worth about $873,000. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on OZK. Wells Fargo & Company reduced their price objective on Bank OZK from $39.00 to $35.00 and set an “underweight” rating for the company in a research note on Thursday, June 6th. Morgan Stanley increased their price target on Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Truist Financial dropped their price objective on shares of Bank OZK from $49.00 to $48.00 and set a “hold” rating on the stock in a research note on Friday. StockNews.com upgraded shares of Bank OZK from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Finally, Citigroup lowered shares of Bank OZK from a “buy” rating to a “sell” rating and dropped their price target for the stock from $57.00 to $37.00 in a research note on Wednesday, May 29th. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $46.57.

Bank OZK Stock Down 1.1 %

OZK stock opened at $42.28 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average price is $42.86 and its 200 day moving average price is $43.14. Bank OZK has a 52 week low of $34.76 and a 52 week high of $52.36. The company has a market cap of $4.80 billion, a P/E ratio of 7.08 and a beta of 1.17.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings results on Wednesday, July 17th. The company reported $1.52 EPS for the quarter, hitting the consensus estimate of $1.52. Bank OZK had a return on equity of 14.50% and a net margin of 27.04%. The business had revenue of $416.78 million for the quarter, compared to analyst estimates of $414.39 million. During the same quarter in the previous year, the company earned $1.47 EPS. The company’s quarterly revenue was up 7.2% on a year-over-year basis. On average, research analysts expect that Bank OZK will post 6.01 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 19th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.78%. This is a boost from Bank OZK’s previous quarterly dividend of $0.39. Bank OZK’s dividend payout ratio (DPR) is currently 26.80%.

Bank OZK 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.