Bank OZK (NASDAQ:OZK) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its position in shares of Bank OZK (NASDAQ:OZK) by 31.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 10,388 shares of the company’s stock after selling 4,658 shares during the quarter. Federated Hermes Inc.’s holdings in Bank OZK were worth $426,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of OZK. Norges Bank purchased a new position in shares of Bank OZK during the fourth quarter valued at approximately $56,293,000. Victory Capital Management Inc. lifted its stake in shares of Bank OZK by 483.9% during the 2nd quarter. Victory Capital Management Inc. now owns 980,358 shares of the company’s stock worth $40,195,000 after purchasing an additional 812,464 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Bank OZK by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 12,028,779 shares of the company’s stock worth $599,394,000 after purchasing an additional 502,005 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Bank OZK by 18.8% in the fourth quarter. Wellington Management Group LLP now owns 1,897,696 shares of the company’s stock valued at $94,562,000 after purchasing an additional 300,025 shares during the period. Finally, American Century Companies Inc. increased its stake in Bank OZK by 21.9% in the second quarter. American Century Companies Inc. now owns 1,642,293 shares of the company’s stock valued at $67,334,000 after purchasing an additional 295,298 shares during the last quarter. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on OZK. Raymond James lowered Bank OZK from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. Morgan Stanley raised their target price on shares of Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Wells Fargo & Company dropped 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 report on Thursday, June 6th. Stephens reiterated an “equal weight” rating and issued a $50.00 price target on shares of Bank OZK in a report on Thursday, July 18th. Finally, Citigroup cut shares of Bank OZK from a “buy” rating to a “sell” rating and lowered their price objective for the company from $57.00 to $37.00 in a research note on Wednesday, May 29th. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.57.

Bank OZK Stock Performance

NASDAQ:OZK opened at $42.28 on Tuesday. Bank OZK has a twelve month low of $34.76 and a twelve month high of $52.36. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 7.08 and a beta of 1.17. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.17. The firm’s fifty day simple moving average is $42.86 and its 200 day simple moving average is $43.14.

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 the consensus estimate of $1.52. The company 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%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.47 earnings per share. As a group, equities research analysts expect that Bank OZK will post 6.01 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 12th were given a dividend of $0.40 per share. This is a boost from Bank OZK’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend was Friday, July 12th. Bank OZK’s payout ratio is presently 26.80%.

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.