Intech Investment Management LLC Lowers Stake in Bank OZK (NASDAQ:OZK)

Intech Investment Management LLC trimmed its position in Bank OZK (NASDAQ:OZK) by 64.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,386 shares of the company’s stock after selling 15,093 shares during the quarter. Intech Investment Management LLC’s holdings in Bank OZK were worth $361,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Bank OZK in the third quarter worth $3,691,000. Caprock Group LLC boosted its holdings in shares of Bank OZK by 10.5% in the 3rd quarter. Caprock Group LLC now owns 6,805 shares of the company’s stock valued at $293,000 after buying an additional 645 shares during the period. Quest Partners LLC boosted its holdings in shares of Bank OZK by 4,174.3% in the 3rd quarter. Quest Partners LLC now owns 58,815 shares of the company’s stock valued at $2,528,000 after buying an additional 57,439 shares during the period. Natixis Advisors LLC grew its position in shares of Bank OZK by 20.7% during the 3rd quarter. Natixis Advisors LLC now owns 19,228 shares of the company’s stock valued at $827,000 after buying an additional 3,303 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Bank OZK by 34.8% in the third quarter. Victory Capital Management Inc. now owns 1,321,436 shares of the company’s stock worth $56,809,000 after acquiring an additional 341,078 shares during the last quarter. 86.18% of the stock is owned by institutional investors and hedge funds.

Bank OZK Price Performance

NASDAQ OZK opened at $48.32 on Wednesday. The stock has a market capitalization of $5.48 billion, a PE ratio of 7.95 and a beta of 1.18. The stock has a 50-day simple moving average of $45.45 and a 200 day simple moving average of $43.29. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. Bank OZK has a twelve month low of $37.43 and a twelve month high of $52.36.

Bank OZK (NASDAQ:OZK) last released its earnings results on Thursday, October 17th. The company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.53 by $0.02. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. The firm had revenue of $423.00 million during the quarter, compared to analysts’ expectations of $419.08 million. Research analysts anticipate that Bank OZK will post 6.03 EPS for the current year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 11th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Friday, October 11th. This is an increase from Bank OZK’s previous quarterly dividend of $0.40. Bank OZK’s payout ratio is currently 26.97%.

Analyst Ratings Changes

A number of research firms have issued reports on OZK. Raymond James cut Bank OZK from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. Truist Financial reduced their target price on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company in a research note on Monday, October 21st. Stephens upped 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, October 21st. Piper Sandler increased their price objective on Bank OZK from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company lifted their target price on Bank OZK from $35.00 to $40.00 and gave the company an “underweight” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Bank OZK presently has an average rating of “Hold” and an average price target of $49.13.

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.