MetLife Investment Management LLC Sells 1,013 Shares of Bank OZK (NASDAQ:OZK)

MetLife Investment Management LLC reduced its position in Bank OZK (NASDAQ:OZK) by 1.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,551 shares of the company’s stock after selling 1,013 shares during the quarter. MetLife Investment Management LLC’s holdings in Bank OZK were worth $2,345,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. PSI Advisors LLC boosted its stake in Bank OZK by 20,933.3% during the second quarter. PSI Advisors LLC now owns 631 shares of the company’s stock worth $26,000 after acquiring an additional 628 shares in the last quarter. Assetmark Inc. boosted its stake in Bank OZK by 73.8% during the third quarter. Assetmark Inc. now owns 968 shares of the company’s stock worth $42,000 after acquiring an additional 411 shares in the last quarter. American National Bank & Trust bought a new position in Bank OZK during the third quarter worth $44,000. Innealta Capital LLC bought a new position in Bank OZK during the second quarter worth $46,000. Finally, Abich Financial Wealth Management LLC bought a new position in Bank OZK during the second quarter worth $49,000. 86.18% of the stock is owned by institutional investors.

Bank OZK Stock Performance

Shares of OZK stock opened at $47.99 on Thursday. The firm has a 50-day moving average of $45.60 and a 200-day moving average of $43.32. The company has a market cap of $5.44 billion, a P/E ratio of 7.89 and a beta of 1.18. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. Bank OZK has a one year low of $37.43 and a one year high of $52.36.

Bank OZK (NASDAQ:OZK) last announced 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 company had revenue of $423.00 million during the quarter, compared to the consensus estimate of $419.08 million. Equities research analysts forecast that Bank OZK will post 6.03 EPS for the current fiscal year.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors 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 yield of 3.42%. The ex-dividend date was Friday, October 11th. This is an increase from Bank OZK’s previous quarterly dividend of $0.40. Bank OZK’s dividend payout ratio (DPR) is 26.97%.

Analysts Set New Price Targets

Several research analysts recently issued reports on OZK shares. Piper Sandler increased their target price on shares of Bank OZK from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Stephens raised their price objective on shares of Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Wells Fargo & Company raised their price objective on shares of Bank OZK from $35.00 to $40.00 and gave the company an “underweight” rating in a research note on Tuesday. 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, Truist Financial dropped their price objective on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating on the stock in a research note on Monday, October 21st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $49.13.

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.