Prudential PLC Lowers Stock Position in Bank OZK (NASDAQ:OZK)

Prudential PLC trimmed its stake in Bank OZK (NASDAQ:OZK) by 87.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 11,619 shares of the company’s stock after selling 84,109 shares during the period. Prudential PLC’s holdings in Bank OZK were worth $476,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. PSI Advisors LLC boosted its holdings in Bank OZK by 20,933.3% during the 2nd quarter. PSI Advisors LLC now owns 631 shares of the company’s stock valued at $26,000 after acquiring an additional 628 shares during the period. LRI Investments LLC acquired a new stake in shares of Bank OZK during the first quarter worth about $29,000. Principal Securities Inc. purchased a new position in shares of Bank OZK in the fourth quarter valued at approximately $31,000. Versant Capital Management Inc grew its holdings in shares of Bank OZK by 423.0% in the second quarter. Versant Capital Management Inc now owns 978 shares of the company’s stock valued at $40,000 after purchasing an additional 791 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in Bank OZK during the 2nd quarter worth approximately $46,000. 86.18% of the stock is currently owned by institutional investors and hedge funds.

Bank OZK Price Performance

Shares of OZK opened at $41.57 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.02 and a current ratio of 1.02. Bank OZK has a fifty-two week low of $34.76 and a fifty-two week high of $52.36. The firm has a 50-day simple moving average of $42.78 and a 200-day simple moving average of $43.20. The company has a market capitalization of $4.72 billion, a price-to-earnings ratio of 6.96 and a beta of 1.17.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $1.52 earnings per share for the quarter, hitting the consensus estimate of $1.52. Bank OZK had a return on equity of 14.50% and a net margin of 27.04%. The firm had revenue of $416.78 million during the quarter, compared to the consensus estimate of $414.39 million. During the same period last year, the company earned $1.47 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities research analysts anticipate that Bank OZK will post 6.01 earnings per share for the current year.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 12th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend was Friday, July 12th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.39. Bank OZK’s dividend payout ratio is currently 26.80%.

Analyst Ratings Changes

Several brokerages have weighed in on OZK. StockNews.com upgraded Bank OZK from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Wells Fargo & Company decreased their price target on shares of Bank OZK from $39.00 to $35.00 and set an “underweight” rating for the company in a research note on Thursday, June 6th. Stephens reissued an “equal weight” rating and issued a $50.00 price objective on shares of Bank OZK in a research report on Thursday, July 18th. Citigroup cut shares of Bank OZK from a “buy” rating to a “sell” rating and decreased their price objective for the stock from $57.00 to $37.00 in a research report on Wednesday, May 29th. Finally, Truist Financial increased their target price on Bank OZK from $41.00 to $49.00 and gave the company a “hold” rating in a report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $46.71.

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.