Principal Financial Group Inc. Has $10.68 Million Holdings in Bank OZK (NASDAQ:OZK)

Principal Financial Group Inc. trimmed its holdings in Bank OZK (NASDAQ:OZK) by 30.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 248,390 shares of the company’s stock after selling 107,903 shares during the period. Principal Financial Group Inc. owned 0.22% of Bank OZK worth $10,678,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in OZK. AQR Capital Management LLC raised its stake in Bank OZK by 291.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,371,892 shares of the company’s stock valued at $95,848,000 after acquiring an additional 1,765,974 shares during the period. Van Berkom & Associates Inc. raised its position in shares of Bank OZK by 2.0% in the second quarter. Van Berkom & Associates Inc. now owns 2,024,130 shares of the company’s stock valued at $82,989,000 after purchasing an additional 40,356 shares during the period. American Century Companies Inc. lifted its stake in shares of Bank OZK by 21.9% during the 2nd quarter. American Century Companies Inc. now owns 1,642,293 shares of the company’s stock worth $67,334,000 after buying an additional 295,298 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Bank OZK by 196.4% during the 2nd quarter. Millennium Management LLC now owns 1,365,393 shares of the company’s stock worth $55,981,000 after buying an additional 904,782 shares during the period. Finally, Newport Trust Company LLC boosted its holdings in shares of Bank OZK by 2.0% during the 2nd quarter. Newport Trust Company LLC now owns 1,147,350 shares of the company’s stock worth $47,041,000 after buying an additional 22,819 shares during the period. 86.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OZK. Piper Sandler raised their price objective on shares of Bank OZK from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Morgan Stanley lifted their price target on Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Raymond James lowered Bank OZK from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 17th. Truist Financial dropped their target price on Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company in a report on Monday, October 21st. Finally, Stephens upped their price target 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Bank OZK currently has a consensus rating of “Hold” and an average target price of $48.50.

Bank OZK Trading Up 1.5 %

OZK opened at $48.49 on Monday. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of 7.98 and a beta of 1.16. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12. Bank OZK has a twelve month low of $37.43 and a twelve month high of $52.36. The company has a 50-day simple moving average of $43.65 and a 200 day simple moving average of $43.19.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings results on Thursday, October 17th. The company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.02. The company 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%. Analysts predict that Bank OZK will post 6.03 EPS for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 11th were paid a dividend of $0.41 per share. The ex-dividend date was Friday, October 11th. This is a boost from Bank OZK’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 3.38%. Bank OZK’s dividend payout ratio is presently 26.97%.

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.