ProShare Advisors LLC Has $27.80 Million Position in Bank OZK (NASDAQ:OZK)

ProShare Advisors LLC reduced its stake in shares of Bank OZK (NASDAQ:OZK) by 25.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 611,593 shares of the company’s stock after selling 212,885 shares during the quarter. ProShare Advisors LLC’s holdings in Bank OZK were worth $27,803,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of OZK. Headlands Technologies LLC acquired a new stake in shares of Bank OZK in the first quarter valued at $418,000. Quantbot Technologies LP boosted its holdings in Bank OZK by 98.4% in the first quarter. Quantbot Technologies LP now owns 121,576 shares of the company’s stock valued at $5,527,000 after acquiring an additional 60,297 shares during the last quarter. Texas Permanent School Fund Corp boosted its holdings in Bank OZK by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 92,084 shares of the company’s stock valued at $4,186,000 after acquiring an additional 1,192 shares during the last quarter. Capstone Investment Advisors LLC boosted its holdings in Bank OZK by 24.8% in the first quarter. Capstone Investment Advisors LLC now owns 13,679 shares of the company’s stock valued at $622,000 after acquiring an additional 2,718 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in Bank OZK by 22.8% in the first quarter. Janney Montgomery Scott LLC now owns 12,255 shares of the company’s stock valued at $557,000 after acquiring an additional 2,274 shares during the last quarter. 86.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on OZK. Citigroup cut Bank OZK from a “buy” rating to a “sell” rating and decreased their price target for the company from $57.00 to $37.00 in a report on Wednesday, May 29th. Wells Fargo & Company reduced their target price on Bank OZK from $39.00 to $35.00 and set an “underweight” rating on the stock in a report on Thursday, June 6th. Stephens restated an “equal weight” rating and set a $50.00 target price on shares of Bank OZK in a report on Thursday, May 30th. Keefe, Bruyette & Woods raised their target price on Bank OZK from $45.00 to $47.00 and gave the stock a “market perform” rating in a report on Monday, April 22nd. Finally, Truist Financial reduced their target price on Bank OZK from $47.00 to $41.00 and set a “hold” rating on the stock in a report on Monday, July 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.14.

Bank OZK Trading Up 0.9 %

NASDAQ OZK opened at $46.92 on Thursday. The firm has a market cap of $5.32 billion, a P/E ratio of 7.86 and a beta of 1.20. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s 50-day moving average is $42.42 and its 200-day moving average is $44.00. Bank OZK has a one year low of $34.76 and a one 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 (EPS) for the quarter, meeting analysts’ consensus estimates of $1.52. Bank OZK had a return on equity of 14.84% and a net margin of 28.54%. The business had revenue of $416.78 million for the quarter, compared to analyst estimates of $414.39 million. During the same quarter last year, the firm earned $1.47 EPS. Bank OZK’s revenue for the quarter was up 7.2% compared to the same quarter last year. Sell-side analysts anticipate that Bank OZK will post 6.05 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 12th will be given a dividend of $0.40 per share. This is a positive change from Bank OZK’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.60 annualized dividend and a dividend yield of 3.41%. Bank OZK’s payout ratio is 26.80%.

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.