Clearbridge Investments LLC Sells 25,110 Shares of Bank OZK (NASDAQ:OZK)

Clearbridge Investments LLC lessened its holdings in shares of Bank OZK (NASDAQ:OZK) by 4.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 484,471 shares of the company’s stock after selling 25,110 shares during the quarter. Clearbridge Investments LLC owned approximately 0.43% of Bank OZK worth $22,024,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new stake in Bank OZK in the fourth quarter worth about $31,000. Bare Financial Services Inc bought a new stake in shares of Bank OZK during the fourth quarter valued at approximately $36,000. SRS Capital Advisors Inc. grew its stake in Bank OZK by 303.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 929 shares of the company’s stock worth $46,000 after purchasing an additional 699 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in Bank OZK by 601.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,402 shares of the company’s stock worth $69,000 after purchasing an additional 1,202 shares in the last quarter. Finally, MCF Advisors LLC purchased a new position in Bank OZK during the fourth quarter valued at $73,000. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Bank OZK Stock Down 2.2 %

Shares of OZK stock traded down $1.01 during mid-day trading on Wednesday, hitting $45.38. The company’s stock had a trading volume of 1,779,351 shares, compared to its average volume of 1,323,476. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of 7.77 and a beta of 1.20. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.01 and a current ratio of 1.02. Bank OZK has a 52-week low of $34.76 and a 52-week high of $52.36. The business has a 50-day moving average price of $42.21 and a 200 day moving average price of $43.87.

Bank OZK (NASDAQ:OZK) last issued its earnings results on Wednesday, July 17th. The company reported $1.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.52. The business had revenue of $416.78 million during the quarter, compared to analyst estimates of $414.39 million. Bank OZK had a return on equity of 14.50% and a net margin of 27.04%. Bank OZK’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.47 EPS. Research analysts predict that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 12th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date was Friday, July 12th. This is an increase from Bank OZK’s previous quarterly dividend of $0.39. Bank OZK’s payout ratio is 26.80%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OZK. Citigroup downgraded shares of Bank OZK from a “buy” rating to a “sell” rating and reduced their target price for the stock from $57.00 to $37.00 in a research report on Wednesday, May 29th. Truist Financial raised their target price on shares of Bank OZK from $41.00 to $49.00 and gave the company a “hold” rating in a research note on Monday. Morgan Stanley reiterated an “equal weight” rating and set a $48.00 target price on shares of Bank OZK in a report on Monday, April 22nd. StockNews.com upgraded Bank OZK from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Finally, Wells Fargo & Company lowered their price objective on Bank OZK from $39.00 to $35.00 and set an “underweight” rating for the company in a research note on Thursday, June 6th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Bank OZK presently has an average rating of “Hold” and an average target price of $46.29.

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.