Palouse Capital Management Inc. Sells 342 Shares of Bank OZK (NASDAQ:OZK)

Palouse Capital Management Inc. trimmed its stake in shares of Bank OZK (NASDAQ:OZK) by 8.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,720 shares of the company’s stock after selling 342 shares during the period. Palouse Capital Management Inc.’s holdings in Bank OZK were worth $153,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. PSI Advisors LLC increased its stake in Bank OZK by 20,933.3% in the 2nd quarter. PSI Advisors LLC now owns 631 shares of the company’s stock worth $26,000 after acquiring an additional 628 shares during the last quarter. LRI Investments LLC bought a new stake in Bank OZK in the first quarter worth $29,000. Principal Securities Inc. purchased a new stake in Bank OZK during the fourth quarter valued at $31,000. Versant Capital Management Inc lifted its position in Bank OZK by 423.0% during the second quarter. Versant Capital Management Inc now owns 978 shares of the company’s stock valued at $40,000 after purchasing an additional 791 shares during the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of Bank OZK in the 2nd quarter worth $46,000. 86.18% of the stock is currently owned by institutional investors.

Bank OZK Price Performance

OZK opened at $42.61 on Thursday. The business has a fifty day moving average of $42.90 and a 200 day moving average of $43.16. The stock has a market cap of $4.83 billion, a P/E ratio of 7.14 and a beta of 1.17. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.17. Bank OZK has a 52-week low of $34.76 and a 52-week high of $52.36.

Bank OZK (NASDAQ:OZK) last issued its 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. The firm had revenue of $416.78 million during the quarter, compared to analyst estimates of $414.39 million. Bank OZK had a net margin of 27.04% and a return on equity of 14.50%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.47 earnings per share. As a group, sell-side analysts anticipate that Bank OZK will post 6.01 EPS for the current year.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 12th were paid a $0.40 dividend. This is an increase from Bank OZK’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date was Friday, July 12th. Bank OZK’s dividend payout ratio is currently 26.80%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. StockNews.com upgraded shares of Bank OZK from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Wells Fargo & Company lowered 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. Raymond James downgraded Bank OZK from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Citigroup downgraded Bank OZK from a “buy” rating to a “sell” rating and lowered their price target for the stock from $57.00 to $37.00 in a research report on Wednesday, May 29th. Finally, Truist Financial lifted their price objective on shares of Bank OZK from $41.00 to $49.00 and gave the stock a “hold” rating in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $46.71.

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.