Clearbridge Investments LLC Trims Stake in Bank OZK (NASDAQ:OZK)

Clearbridge Investments LLC lessened its holdings in Bank OZK (NASDAQ:OZK) by 4.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 484,471 shares of the company’s stock after selling 25,110 shares during the quarter. Clearbridge Investments LLC’s holdings in Bank OZK were worth $22,024,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Sowell Financial Services LLC raised its stake in Bank OZK by 2.3% in the 4th quarter. Sowell Financial Services LLC now owns 10,573 shares of the company’s stock worth $527,000 after acquiring an additional 236 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of Bank OZK by 2.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 11,374 shares of the company’s stock worth $567,000 after purchasing an additional 246 shares during the last quarter. Beacon Pointe Advisors LLC lifted its holdings in shares of Bank OZK by 4.1% during the fourth quarter. Beacon Pointe Advisors LLC now owns 6,247 shares of the company’s stock worth $311,000 after purchasing an additional 247 shares during the period. HB Wealth Management LLC boosted its position in Bank OZK by 3.9% in the first quarter. HB Wealth Management LLC now owns 6,607 shares of the company’s stock valued at $300,000 after buying an additional 249 shares during the last quarter. Finally, Cardinal Capital Management increased its holdings in Bank OZK by 1.0% in the 4th quarter. Cardinal Capital Management now owns 30,704 shares of the company’s stock worth $1,530,000 after buying an additional 292 shares during the period. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Bank OZK Price Performance

Shares of NASDAQ:OZK traded down $1.01 during midday trading on Wednesday, reaching $45.38. 1,779,351 shares of the company’s stock traded hands, compared to its average volume of 1,323,476. The company has a fifty day simple moving average of $42.21 and a two-hundred day simple moving average of $43.87. Bank OZK has a 1 year low of $34.76 and a 1 year high of $52.36. The company has a market cap of $5.15 billion, a P/E ratio of 7.77 and a beta of 1.20. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.01 and a current ratio of 1.02.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $1.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.52. Bank OZK had a net margin of 27.04% and a return on equity of 14.50%. The company had revenue of $416.78 million during the quarter, compared to analysts’ expectations of $414.39 million. During the same period in the prior year, the business posted $1.47 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities analysts predict that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 12th were paid a $0.40 dividend. The ex-dividend date was Friday, July 12th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a yield of 3.53%. Bank OZK’s dividend payout ratio (DPR) is currently 26.80%.

Analyst Upgrades and Downgrades

Several analysts have commented on OZK shares. Stephens restated an “equal weight” rating and set a $50.00 price objective on shares of Bank OZK in a research note on Thursday, July 18th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $48.00 price target on shares of Bank OZK in a report on Monday, April 22nd. Truist Financial lifted their price objective on Bank OZK from $41.00 to $49.00 and gave the company a “hold” rating in a research note on Monday. Wells Fargo & Company lowered their target price on Bank OZK from $39.00 to $35.00 and set an “underweight” rating on the stock in a research note on Thursday, June 6th. Finally, Citigroup cut Bank OZK from a “buy” rating to a “sell” rating and reduced their price target for the company from $57.00 to $37.00 in a research report on Wednesday, May 29th. Two equities 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $46.29.

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.