Bank of Nova Scotia Has $1.82 Million Holdings in Bank OZK (NASDAQ:OZK)

Bank of Nova Scotia cut its stake in Bank OZK (NASDAQ:OZK - Free Report) by 66.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,979 shares of the company's stock after selling 82,055 shares during the period. Bank of Nova Scotia's holdings in Bank OZK were worth $1,824,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of OZK. CX Institutional bought a new stake in shares of Bank OZK in the first quarter valued at about $30,000. Bruce G. Allen Investments LLC raised its holdings in Bank OZK by 4,828.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 1,035 shares of the company's stock valued at $45,000 after acquiring an additional 1,014 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in shares of Bank OZK in the 4th quarter worth approximately $54,000. UMB Bank n.a. grew its holdings in shares of Bank OZK by 2,014.3% during the 1st quarter. UMB Bank n.a. now owns 1,480 shares of the company's stock worth $64,000 after purchasing an additional 1,410 shares in the last quarter. Finally, Whipplewood Advisors LLC increased its position in shares of Bank OZK by 1,052.0% during the first quarter. Whipplewood Advisors LLC now owns 1,993 shares of the company's stock valued at $87,000 after purchasing an additional 1,820 shares during the period. 86.18% of the stock is currently owned by institutional investors and hedge funds.

Bank OZK Price Performance

Shares of NASDAQ:OZK traded up $0.59 on Friday, hitting $47.99. The stock had a trading volume of 1,021,776 shares, compared to its average volume of 1,205,983. The firm's 50 day moving average price is $48.48 and its 200-day moving average price is $46.48. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.02 and a current ratio of 1.04. Bank OZK has a twelve month low of $35.71 and a twelve month high of $53.64. The company has a market capitalization of $5.46 billion, a price-to-earnings ratio of 7.79 and a beta of 0.86.

Bank OZK (NASDAQ:OZK - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.51 by $0.07. The firm had revenue of $428.04 million for the quarter, compared to analyst estimates of $423.41 million. Bank OZK had a net margin of 25.83% and a return on equity of 13.24%. During the same period in the previous year, the business earned $1.52 earnings per share. On average, equities research analysts predict that Bank OZK will post 6.02 earnings per share for the current year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Friday, July 11th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.76 dividend on an annualized basis and a yield of 3.7%. This is a positive change from Bank OZK's previous quarterly dividend of $0.43. Bank OZK's payout ratio is 28.57%.

Wall Street Analyst Weigh In

Several brokerages recently commented on OZK. Raymond James Financial raised Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 target price for the company in a research report on Tuesday, July 8th. Wells Fargo & Company increased their price objective on shares of Bank OZK from $48.00 to $49.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. Keefe, Bruyette & Woods reduced their price objective on shares of Bank OZK from $50.00 to $48.00 and set a "market perform" rating for the company in a report on Tuesday, April 22nd. Finally, Stephens lowered their target price on shares of Bank OZK from $59.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $52.88.

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.