Simmons Bank Reduces Holdings in Bank OZK (NASDAQ:OZK)

Simmons Bank lowered its stake in Bank OZK (NASDAQ:OZK) by 11.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,350 shares of the company’s stock after selling 4,989 shares during the quarter. Simmons Bank’s holdings in Bank OZK were worth $1,961,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in Bank OZK by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,994,821 shares of the company’s stock worth $111,018,000 after acquiring an additional 35,215 shares during the last quarter. Van Berkom & Associates Inc. lifted its position in Bank OZK by 18.1% during the third quarter. Van Berkom & Associates Inc. now owns 2,031,518 shares of the company’s stock worth $75,308,000 after buying an additional 311,293 shares during the period. Newport Trust Company LLC boosted its stake in Bank OZK by 0.8% in the 3rd quarter. Newport Trust Company LLC now owns 1,210,102 shares of the company’s stock worth $44,858,000 after buying an additional 9,857 shares during the last quarter. Jupiter Asset Management Ltd. grew its holdings in Bank OZK by 423.9% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 1,085,368 shares of the company’s stock valued at $40,235,000 after buying an additional 878,212 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Bank OZK by 33.2% during the 3rd quarter. American Century Companies Inc. now owns 716,297 shares of the company’s stock worth $26,553,000 after acquiring an additional 178,620 shares during the period. Institutional investors and hedge funds own 86.18% of the company’s stock.

Bank OZK Stock Down 0.6 %

Shares of OZK stock traded down $0.28 during trading hours on Tuesday, reaching $47.27. The company had a trading volume of 938,826 shares, compared to its average volume of 1,185,853. The company has a market capitalization of $5.35 billion, a P/E ratio of 7.92 and a beta of 1.24. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.01. Bank OZK has a twelve month low of $30.72 and a twelve month high of $52.36. The stock’s fifty day simple moving average is $44.29 and its 200 day simple moving average is $44.12.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings data on Thursday, April 18th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.07. The company had revenue of $406.02 million during the quarter, compared to the consensus estimate of $396.81 million. Bank OZK had a net margin of 28.54% and a return on equity of 14.84%. During the same quarter last year, the company earned $1.41 earnings per share. As a group, sell-side analysts expect that Bank OZK will post 6.04 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 12th were given a $0.39 dividend. This is a boost from Bank OZK’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend was Thursday, April 11th. Bank OZK’s dividend payout ratio is presently 26.13%.

Analysts Set New Price Targets

OZK has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Bank OZK from $45.00 to $47.00 and gave the company a “market perform” rating in a report on Monday, April 22nd. Truist Financial cut their target price on Bank OZK from $48.00 to $47.00 and set a “hold” rating on the stock in a research report on Monday, April 22nd. Citigroup lowered their price target on Bank OZK from $62.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. UBS Group downgraded Bank OZK from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $48.00 target price on shares of Bank OZK in a report on Monday, April 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Bank OZK has an average rating of “Hold” and a consensus price target of $49.14.

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.