Bank OZK (NASDAQ:OZK) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its stake in Bank OZK (NASDAQ:OZK) by 30.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 248,390 shares of the company’s stock after selling 107,903 shares during the period. Principal Financial Group Inc. owned approximately 0.22% of Bank OZK worth $10,678,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Assetmark Inc. grew its holdings in shares of Bank OZK by 73.8% in the 3rd quarter. Assetmark Inc. now owns 968 shares of the company’s stock worth $42,000 after acquiring an additional 411 shares during the period. American National Bank & Trust acquired a new position in shares of Bank OZK during the 3rd quarter worth $44,000. Abich Financial Wealth Management LLC acquired a new position in shares of Bank OZK during the 2nd quarter worth $49,000. Capital Performance Advisors LLP purchased a new position in Bank OZK during the 3rd quarter valued at about $61,000. Finally, Venturi Wealth Management LLC raised its position in Bank OZK by 424.8% during the third quarter. Venturi Wealth Management LLC now owns 1,590 shares of the company’s stock worth $68,000 after acquiring an additional 1,287 shares during the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Bank OZK Stock Performance

Shares of OZK stock opened at $44.57 on Monday. The company’s fifty day simple moving average is $46.56 and its 200-day simple moving average is $43.73. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12. Bank OZK has a 52 week low of $37.43 and a 52 week high of $51.50. The company has a market cap of $5.06 billion, a PE ratio of 7.33 and a beta of 1.18.

Bank OZK (NASDAQ:OZK) last released 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 firm had revenue of $423.00 million during the quarter, compared to analysts’ expectations of $419.08 million. Bank OZK had a return on equity of 14.15% and a net margin of 26.07%. As a group, equities research analysts anticipate that Bank OZK will post 6.03 EPS for the current year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 11th were paid a $0.41 dividend. This is a boost from Bank OZK’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, October 11th. This represents a $1.64 annualized dividend and a dividend yield of 3.68%. Bank OZK’s payout ratio is 26.97%.

Wall Street Analysts Forecast Growth

OZK has been the subject of several research reports. Wells Fargo & Company lifted their price objective on Bank OZK from $35.00 to $40.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 3rd. Stephens lifted their price objective on Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. UBS Group started coverage on shares of Bank OZK in a research note on Tuesday, December 17th. They set a “neutral” rating and a $51.00 price target on the stock. Raymond James lowered shares of Bank OZK from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. Finally, Truist Financial decreased their target price on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating on the stock in a research report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $49.33.

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.