Goldman Sachs Group Inc. Sells 38,528 Shares of 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. reduced its position in shares of Bank OZK (NASDAQ:OZK - Free Report) by 22.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 133,722 shares of the company's stock after selling 38,528 shares during the period. Goldman Sachs Group Inc. owned approximately 0.12% of Bank OZK worth $5,810,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of OZK. Tidal Investments LLC raised its stake in Bank OZK by 1.0% during the fourth quarter. Tidal Investments LLC now owns 21,575 shares of the company's stock worth $961,000 after purchasing an additional 205 shares during the period. National Bank of Canada FI grew its holdings in Bank OZK by 12.8% during the 1st quarter. National Bank of Canada FI now owns 1,960 shares of the company's stock valued at $85,000 after purchasing an additional 223 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in Bank OZK by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 29,600 shares of the company's stock valued at $1,286,000 after purchasing an additional 300 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Bank OZK by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 12,359 shares of the company's stock valued at $536,000 after purchasing an additional 330 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC grew its holdings in Bank OZK by 0.9% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 38,327 shares of the company's stock worth $1,707,000 after acquiring an additional 347 shares in the last quarter. 86.18% of the stock is currently owned by institutional investors and hedge funds.

Bank OZK Price Performance

Shares of Bank OZK stock traded down $0.53 during mid-day trading on Friday, reaching $52.60. 2,417,980 shares of the stock were exchanged, compared to its average volume of 792,547. The company has a market cap of $5.98 billion, a price-to-earnings ratio of 8.54 and a beta of 0.92. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23. The firm has a 50-day simple moving average of $51.06 and a 200 day simple moving average of $46.74. Bank OZK has a fifty-two week low of $35.71 and a fifty-two week high of $53.66.

Bank OZK (NASDAQ:OZK - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.51 by $0.07. The business had revenue of $428.04 million during the quarter, compared to analysts' expectations of $423.41 million. Bank OZK had a net margin of 25.83% and a return on equity of 13.24%. During the same quarter last year, the company posted $1.52 EPS. On average, sell-side analysts predict that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Friday, July 11th were given a dividend of $0.44 per share. The ex-dividend date was Friday, July 11th. This represents a $1.76 annualized dividend and a dividend yield of 3.3%. This is a positive change from Bank OZK's previous quarterly dividend of $0.43. Bank OZK's dividend payout ratio is presently 28.57%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on OZK shares. Stephens upgraded shares of Bank OZK from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $58.00 to $65.00 in a research report on Wednesday, August 20th. 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. Finally, Raymond James Financial raised shares of 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. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Bank OZK presently has an average rating of "Hold" and a consensus price target of $54.25.

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.