Bank OZK (NASDAQ:OZK) Shares Sold by Fmr LLC

Fmr LLC lowered its position in shares of Bank OZK (NASDAQ:OZK) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,216 shares of the company’s stock after selling 252 shares during the quarter. Fmr LLC’s holdings in Bank OZK were worth $396,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Bank OZK by 8.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,734 shares of the company’s stock worth $1,014,000 after buying an additional 1,830 shares during the last quarter. Panagora Asset Management Inc. purchased a new stake in Bank OZK in the second quarter valued at approximately $262,000. F M Investments LLC purchased a new stake in Bank OZK in the second quarter valued at approximately $8,165,000. Innealta Capital LLC acquired a new position in Bank OZK during the second quarter worth approximately $46,000. Finally, Van ECK Associates Corp raised its stake in Bank OZK by 13.6% during the second quarter. Van ECK Associates Corp now owns 44,841 shares of the company’s stock worth $1,838,000 after purchasing an additional 5,381 shares during the period. Institutional investors and hedge funds own 86.18% of the company’s stock.

Bank OZK Stock Performance

Bank OZK stock opened at $43.43 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. Bank OZK has a one year low of $37.43 and a one year high of $51.50. The stock’s 50 day moving average price is $46.60 and its 200 day moving average price is $43.43. The firm has a market capitalization of $4.93 billion, a PE ratio of 7.14 and a beta of 1.18.

Bank OZK (NASDAQ:OZK) last posted 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 for the quarter, compared to analysts’ expectations of $419.08 million. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. As a group, sell-side analysts expect that Bank OZK will post 6.03 EPS for the current fiscal year.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 11th were given a $0.41 dividend. This is a boost from Bank OZK’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date was Friday, October 11th. Bank OZK’s dividend payout ratio is presently 26.97%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Raymond James cut shares of Bank OZK from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. Truist Financial lowered their price target on Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company in a research report on Monday, October 21st. 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, December 3rd. Piper Sandler boosted their target price on Bank OZK from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, Stephens increased their target price 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, October 21st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Bank OZK currently has an average rating of “Hold” and an average target price of $49.33.

About Bank OZK

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.