Sei Investments Co. Increases Stake in Bank OZK (NASDAQ:OZK)

Sei Investments Co. raised its holdings in shares of Bank OZK (NASDAQ:OZK) by 19.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 366,075 shares of the company’s stock after buying an additional 60,854 shares during the quarter. Sei Investments Co. owned about 0.32% of Bank OZK worth $15,010,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Goldman Sachs Group Inc. lifted its position in Bank OZK by 136.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 359,814 shares of the company’s stock worth $17,930,000 after buying an additional 207,341 shares in the last quarter. Pinebridge Investments L.P. boosted its position in shares of Bank OZK by 77.3% during the 4th quarter. Pinebridge Investments L.P. now owns 188,600 shares of the company’s stock valued at $9,397,000 after acquiring an additional 82,233 shares during the last quarter. M&G Plc purchased a new stake in shares of Bank OZK in the first quarter valued at about $8,437,000. State Board of Administration of Florida Retirement System increased its position in Bank OZK by 27.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 140,492 shares of the company’s stock worth $6,387,000 after purchasing an additional 29,993 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Bank OZK in the 2nd quarter valued at approximately $873,000. 86.18% of the stock is currently owned by institutional investors and hedge funds.

Bank OZK Stock Performance

NASDAQ OZK opened at $41.72 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $4.73 billion, a P/E ratio of 6.99 and a beta of 1.17. The stock has a 50-day moving average of $42.57 and a two-hundred day moving average of $43.10. Bank OZK has a 1-year low of $34.76 and a 1-year high of $52.36.

Bank OZK (NASDAQ:OZK) last announced 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. Bank OZK had a net margin of 27.04% and a return on equity of 14.50%. The firm had revenue of $416.78 million for the quarter, compared to the consensus estimate of $414.39 million. During the same period in the prior year, the firm earned $1.47 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, analysts anticipate that Bank OZK will post 5.98 EPS for the current year.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 12th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.84%. This is a boost from Bank OZK’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, July 12th. Bank OZK’s payout ratio is presently 26.80%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Morgan Stanley upped their price objective on Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Truist Financial lowered their price target on Bank OZK from $49.00 to $48.00 and set a “hold” rating for the company in a report on Friday, September 20th. StockNews.com upgraded shares of Bank OZK from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Raymond James lowered shares of Bank OZK from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. Finally, 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. Two investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $46.57.

About Bank OZK

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.