Principal Financial Group Inc. Has $10.92 Million Stock Holdings in Bank OZK (NASDAQ:OZK)

Principal Financial Group Inc. lessened its holdings in Bank OZK (NASDAQ:OZK) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 245,112 shares of the company’s stock after selling 3,278 shares during the period. Principal Financial Group Inc. owned approximately 0.22% of Bank OZK worth $10,915,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Bank OZK in the fourth quarter worth about $27,000. V Square Quantitative Management LLC increased its holdings in shares of Bank OZK by 81.3% during the fourth quarter. V Square Quantitative Management LLC now owns 948 shares of the company’s stock worth $42,000 after buying an additional 425 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Bank OZK by 73.8% during the third quarter. Assetmark Inc. now owns 968 shares of the company’s stock worth $42,000 after buying an additional 411 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Bank OZK during the third quarter worth approximately $61,000. Finally, Venturi Wealth Management LLC increased its holdings in shares of 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 buying an additional 1,287 shares in the last quarter. Institutional investors and hedge funds own 86.18% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on OZK shares. UBS Group started coverage on shares of Bank OZK in a report on Tuesday, December 17th. They set a “neutral” rating and a $51.00 price objective for the company. Wells Fargo & Company raised shares of Bank OZK from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $40.00 to $48.00 in a report on Tuesday, January 21st. Finally, Stephens raised their price objective on shares of Bank OZK from $53.00 to $57.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $50.00.

Bank OZK Price Performance

OZK opened at $48.01 on Friday. Bank OZK has a one year low of $37.43 and a one year high of $53.64. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.03 and a quick ratio of 1.02. The company’s 50 day simple moving average is $47.97 and its 200-day simple moving average is $45.62. The stock has a market capitalization of $5.45 billion, a P/E ratio of 7.82 and a beta of 1.20.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings results on Thursday, January 16th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.44 by $0.12. Bank OZK had a net margin of 25.83% and a return on equity of 13.90%. The business had revenue of $412.34 million for the quarter, compared to analysts’ expectations of $407.19 million. During the same period in the prior year, the firm earned $1.50 earnings per share. Bank OZK’s revenue was up 1.2% compared to the same quarter last year. Sell-side analysts anticipate that Bank OZK will post 6.02 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 14th were paid a $0.42 dividend. The ex-dividend date was Tuesday, January 14th. This is a boost from Bank OZK’s previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a yield of 3.50%. Bank OZK’s dividend payout ratio (DPR) is presently 27.36%.

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.