Clearbridge Investments LLC lessened its holdings in shares of Bank OZK (NASDAQ:OZK – Free Report) 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 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.
Get Our Latest Stock Analysis on OZK
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.
Further Reading
- Five stocks we like better than Bank OZK
- The How and Why of Investing in Gold Stocks
- Food Processing Company Stock Gets Fried by Recall: Time to Buy
- What is the NASDAQ Stock Exchange?
- Entertainment Stock Offers A Rare and Tempting Entry Opportunity
- Low PE Growth Stocks: Unlocking Investment Opportunities
- Will China’s Interest Rate Cuts Ignite a Rally for This Stock?
Want to see what other hedge funds are holding OZK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank OZK (NASDAQ:OZK – Free Report).
Receive News & Ratings for Bank OZK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank OZK and related companies with MarketBeat.com's FREE daily email newsletter.