Bank OZK (NASDAQ:OZK) Stake Lowered by Hancock Whitney Corp

Hancock Whitney Corp decreased its stake in Bank OZK (NASDAQ:OZK) by 2.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 23,968 shares of the company’s stock after selling 608 shares during the period. Hancock Whitney Corp’s holdings in Bank OZK were worth $983,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OZK. PSI Advisors LLC grew its position in Bank OZK by 20,933.3% in the 2nd quarter. PSI Advisors LLC now owns 631 shares of the company’s stock worth $26,000 after purchasing an additional 628 shares during the last quarter. LRI Investments LLC bought a new position in Bank OZK in the 1st quarter worth approximately $29,000. Principal Securities Inc. acquired a new stake in Bank OZK in the 4th quarter valued at approximately $31,000. Versant Capital Management Inc raised its stake in Bank OZK by 423.0% during the 2nd quarter. Versant Capital Management Inc now owns 978 shares of the company’s stock valued at $40,000 after acquiring an additional 791 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in Bank OZK during the 2nd quarter worth $46,000. Institutional investors and hedge funds own 86.18% of the company’s stock.

Bank OZK Price Performance

Shares of NASDAQ:OZK opened at $42.76 on Monday. The company has a market capitalization of $4.85 billion, a PE ratio of 7.16 and a beta of 1.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a fifty day moving average of $42.90 and a 200-day moving average of $43.16. Bank OZK has a one year low of $34.76 and a one year high of $52.36.

Bank OZK (NASDAQ:OZK) last announced its earnings results on Wednesday, July 17th. The company reported $1.52 EPS for the quarter, meeting the consensus estimate of $1.52. The business had revenue of $416.78 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the business posted $1.47 earnings per share. As a group, equities analysts anticipate that Bank OZK will post 6.01 EPS for the current fiscal year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 12th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.74%. This is a boost from Bank OZK’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, July 12th. Bank OZK’s dividend payout ratio (DPR) is presently 26.80%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on OZK shares. Citigroup cut shares of Bank OZK from a “buy” rating to a “sell” rating and cut their price objective for the company from $57.00 to $37.00 in a research note on Wednesday, May 29th. Wells Fargo & Company dropped their price target on shares of Bank OZK from $39.00 to $35.00 and set an “underweight” rating on the stock in a research report on Thursday, June 6th. Truist Financial lowered their price objective on shares of Bank OZK from $49.00 to $48.00 and set a “hold” rating on the stock in a research note on Friday. Morgan Stanley upped their target price on Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Finally, Raymond James lowered Bank OZK from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $46.57.

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.