Bank OZK (NASDAQ:OZK) Stock Position Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in shares of Bank OZK (NASDAQ:OZK) by 30.3% during the third quarter, Holdings Channel reports. The firm owned 248,390 shares of the company’s stock after selling 107,903 shares during the quarter. Principal Financial Group Inc.’s holdings in Bank OZK were worth $10,678,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Assetmark Inc. boosted its holdings in shares of Bank OZK by 73.8% in the third quarter. Assetmark Inc. now owns 968 shares of the company’s stock worth $42,000 after buying an additional 411 shares during the period. American National Bank & Trust acquired a new position in Bank OZK in the 3rd quarter worth approximately $44,000. Abich Financial Wealth Management LLC purchased a new position in Bank OZK during the 2nd quarter worth approximately $49,000. Capital Performance Advisors LLP acquired a new stake in Bank OZK during the 3rd quarter valued at $61,000. Finally, Venturi Wealth Management LLC boosted its position in shares of Bank OZK by 424.8% in the third quarter. Venturi Wealth Management LLC now owns 1,590 shares of the company’s stock worth $68,000 after buying an additional 1,287 shares during the period. Institutional investors and hedge funds own 86.18% of the company’s stock.

Wall Street Analysts Forecast Growth

OZK has been the subject of several research analyst reports. Stephens increased their price objective on Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Piper Sandler upped their price objective on shares of Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Wells Fargo & Company boosted their price target on shares of Bank OZK from $35.00 to $40.00 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. Raymond James downgraded Bank OZK from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. Finally, Truist Financial reduced their price target on Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company in a report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $49.33.

Bank OZK Stock Down 0.9 %

OZK opened at $44.57 on Monday. The business has a 50 day moving average of $46.56 and a 200-day moving average of $43.73. The stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of 7.33 and a beta of 1.18. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12. Bank OZK has a 1-year low of $37.43 and a 1-year high of $51.50.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings data on Thursday, October 17th. The company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.02. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. The business had revenue of $423.00 million during the quarter, compared to analyst estimates of $419.08 million. As a group, sell-side analysts anticipate that Bank OZK will post 6.03 earnings per share for the current year.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 11th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.68%. This is an increase from Bank OZK’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, October 11th. Bank OZK’s dividend payout ratio (DPR) is presently 26.97%.

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.