Bank of Montreal Can Decreases Holdings in Bank OZK (NASDAQ:OZK)

Bank of Montreal Can reduced its stake in shares of Bank OZK (NASDAQ:OZK) by 23.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,591 shares of the company’s stock after selling 14,519 shares during the quarter. Bank of Montreal Can’s holdings in Bank OZK were worth $1,958,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. PSI Advisors LLC raised its holdings in Bank OZK by 20,933.3% during the 2nd quarter. PSI Advisors LLC now owns 631 shares of the company’s stock valued at $26,000 after buying an additional 628 shares during the period. Assetmark Inc. grew its holdings in Bank OZK by 73.8% during the 3rd quarter. Assetmark Inc. now owns 968 shares of the company’s stock valued at $42,000 after purchasing an additional 411 shares during the last quarter. American National Bank & Trust purchased a new stake in Bank OZK in the 3rd quarter worth about $44,000. Innealta Capital LLC bought a new stake in Bank OZK in the second quarter worth about $46,000. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of Bank OZK during the second quarter valued at approximately $49,000. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

Bank OZK Trading Down 1.3 %

OZK opened at $47.35 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 7.79 and a beta of 1.18. Bank OZK has a 12 month low of $37.43 and a 12 month high of $52.36. The stock has a fifty day moving average price of $45.71 and a 200-day moving average price of $43.35.

Bank OZK (NASDAQ:OZK) last announced its earnings results on Thursday, October 17th. The company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.02. The business had revenue of $423.00 million during the quarter, compared to the consensus estimate of $419.08 million. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. As a group, equities research analysts anticipate that Bank OZK will post 6.03 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 11th were given a dividend of $0.41 per share. This is a boost from Bank OZK’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, October 11th. This represents a $1.64 dividend on an annualized basis and a yield of 3.46%. Bank OZK’s dividend payout ratio is presently 26.97%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Raymond James lowered Bank OZK from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. Stephens boosted their target price on shares of Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Truist Financial reduced their price target on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating on the stock in a research note on Monday, October 21st. Piper Sandler boosted their price target on Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company raised their price objective on Bank OZK from $35.00 to $40.00 and gave the stock an “underweight” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $49.13.

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.