The Manufacturers Life Insurance Company Sells 1,277 Shares of Bank OZK (NASDAQ:OZK)

The Manufacturers Life Insurance Company lowered its position in Bank OZK (NASDAQ:OZK) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 92,151 shares of the company’s stock after selling 1,277 shares during the period. The Manufacturers Life Insurance Company owned about 0.08% of Bank OZK worth $3,778,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its holdings in shares of Bank OZK by 136.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 359,814 shares of the company’s stock valued at $17,930,000 after purchasing an additional 207,341 shares during the last quarter. M&G Plc bought a new position in shares of Bank OZK during the 1st quarter valued at about $8,437,000. State Board of Administration of Florida Retirement System boosted its holdings in shares of Bank OZK by 27.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 140,492 shares of the company’s stock valued at $6,387,000 after purchasing an additional 29,993 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Bank OZK during the 2nd quarter valued at about $873,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Bank OZK by 211.3% during the 1st quarter. BNP Paribas Financial Markets now owns 61,181 shares of the company’s stock valued at $2,781,000 after purchasing an additional 41,527 shares during the last quarter. Institutional investors own 86.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on OZK. StockNews.com raised shares of Bank OZK from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Raymond James cut shares of Bank OZK from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. Stephens restated an “equal weight” rating and set a $50.00 target price on shares of Bank OZK in a research report on Thursday, July 18th. Morgan Stanley upped 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 report on Monday, August 5th. Finally, Truist Financial decreased their target price on shares of Bank OZK from $49.00 to $48.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $46.57.

Bank OZK Stock Performance

Bank OZK stock opened at $42.11 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.02 and a quick ratio of 1.02. Bank OZK has a 1-year low of $34.76 and a 1-year high of $52.36. The firm has a market capitalization of $4.78 billion, a P/E ratio of 7.05 and a beta of 1.17. The company’s 50-day moving average is $42.03 and its 200 day moving average is $43.05.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $1.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.52. Bank OZK had a net margin of 27.04% and a return on equity of 14.50%. The company had revenue of $416.78 million for the quarter, compared to analyst estimates of $414.39 million. During the same period in the prior year, the company posted $1.47 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Research analysts forecast 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 will be paid on Friday, October 18th. Stockholders of record on Friday, October 11th will be given a dividend of $0.41 per share. The ex-dividend date is Friday, October 11th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.89%. Bank OZK’s dividend payout ratio (DPR) is 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.