State of New Jersey Common Pension Fund D Sells 21,426 Shares of Bank OZK (NASDAQ:OZK)

State of New Jersey Common Pension Fund D lessened its position in shares of Bank OZK (NASDAQ:OZK) by 32.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,753 shares of the company’s stock after selling 21,426 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Bank OZK were worth $1,835,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Principal Securities Inc. bought a new stake in Bank OZK in the 4th quarter valued at about $31,000. Norges Bank purchased a new position in shares of Bank OZK during the fourth quarter worth about $56,293,000. Trexquant Investment LP purchased a new position in Bank OZK in the 4th quarter worth approximately $1,818,000. Commerce Bank raised its position in Bank OZK by 70.9% during the fourth quarter. Commerce Bank now owns 21,852 shares of the company’s stock valued at $1,089,000 after purchasing an additional 9,065 shares in the last quarter. Finally, Phillips Wealth Planners LLC purchased a new stake in Bank OZK in the fourth quarter worth approximately $201,000. 86.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on OZK shares. StockNews.com upgraded shares of Bank OZK from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Raymond James cut shares of Bank OZK from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. Morgan Stanley raised 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 note on Monday, August 5th. Stephens reissued an “equal weight” rating and set a $50.00 target price on shares of Bank OZK in a research report on Thursday, July 18th. Finally, Wells Fargo & Company reduced their price target on Bank OZK from $39.00 to $35.00 and set an “underweight” rating for the company in a research report on Thursday, June 6th. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $46.57.

Bank OZK Stock Performance

Shares of OZK stock opened at $42.28 on Tuesday. The company has a market cap of $4.80 billion, a PE ratio of 7.08 and a beta of 1.17. The company has a current ratio of 1.02, a quick 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. The company’s fifty day simple moving average is $42.86 and its 200-day simple moving average is $43.14.

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

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Investors 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 annualized dividend and a yield of 3.78%. The ex-dividend date was Friday, July 12th. Bank OZK’s dividend payout ratio is currently 26.80%.

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.