Goldman Sachs Group Inc. Has $5.81 Million Stake in Bank OZK $OZK

Key Points

• Goldman Sachs Group Inc. reduced its stake in Bank OZK by 22.4%, selling 38,528 shares and owning 133,722 shares now valued at $5.81 million.
• Bank OZK declared a quarterly dividend of $0.44 per share, an increase from the previous $0.43, representing an annualized yield of 3.4%.
• Equities analysts have mixed views, with some raising price targets; for instance, Raymond James set a target of $58.00 and Stephens increased theirs to $65.00.

Goldman Sachs Group Inc. decreased its stake in Bank OZK (NASDAQ:OZK - Free Report) by 22.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 133,722 shares of the company's stock after selling 38,528 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.12% of Bank OZK worth $5,810,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CX Institutional purchased a new stake in Bank OZK in the 1st quarter worth approximately $30,000. Summit Securities Group LLC purchased a new stake in Bank OZK in the 1st quarter worth approximately $32,000. Bruce G. Allen Investments LLC lifted its position 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 worth $45,000 after buying an additional 1,014 shares in the last quarter. Brooklyn Investment Group lifted its position in Bank OZK by 1,114.3% in the 1st quarter. Brooklyn Investment Group now owns 1,105 shares of the company's stock worth $48,000 after buying an additional 1,014 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in Bank OZK by 2,014.3% in the 1st quarter. UMB Bank n.a. now owns 1,480 shares of the company's stock worth $64,000 after buying an additional 1,410 shares in the last quarter. Hedge funds and other institutional investors own 86.18% of the company's stock.

Wall Street Analysts Forecast Growth

OZK has been the subject of a number of research analyst reports. Wells Fargo & Company increased their target price on shares of Bank OZK from $48.00 to $49.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. Raymond James Financial upgraded shares of Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 price target on the stock in a report on Tuesday, July 8th. Finally, Stephens upgraded shares of Bank OZK from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $58.00 to $65.00 in a report on Wednesday, August 20th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $54.25.

Bank OZK Price Performance

Shares of NASDAQ:OZK traded up $0.76 during midday trading on Wednesday, reaching $51.96. 1,784,490 shares of the company's stock were exchanged, compared to its average volume of 713,222. Bank OZK has a 12 month low of $35.71 and a 12 month high of $53.66. The firm has a market capitalization of $5.91 billion, a PE ratio of 8.44 and a beta of 0.92. The company's 50 day simple moving average is $51.01 and its two-hundred day simple moving average is $46.66. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.04.

Bank OZK (NASDAQ:OZK - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.07. Bank OZK had a net margin of 25.83% and a return on equity of 13.24%. The firm had revenue of $428.04 million during the quarter, compared to the consensus estimate of $423.41 million. During the same period last year, the firm posted $1.52 EPS. Equities research analysts expect that Bank OZK will post 6.02 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Friday, July 11th were paid a $0.44 dividend. This is a boost from Bank OZK's previous quarterly dividend of $0.43. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, July 11th. Bank OZK's payout ratio is presently 28.57%.

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.