Bank OZK $OZK Shares Sold by Cwm LLC

Key Points

• Cwm LLC reduced its holdings in Bank OZK by 21.2% during Q2, now owning 35,746 shares worth approximately $1.68 million.
• Analysts have recently raised their price targets for Bank OZK, with recommendations ranging from "outperform" to "overweight" and a consensus target price of $57.22.
• Bank OZK announced an increase in its quarterly dividend to $0.45 per share from the previous $0.44, signaling strong financial health.

Cwm LLC lowered its position in shares of Bank OZK (NASDAQ:OZK - Free Report) by 21.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,746 shares of the company's stock after selling 9,623 shares during the quarter. Cwm LLC's holdings in Bank OZK were worth $1,682,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in Bank OZK by 5.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,350,220 shares of the company's stock valued at $189,017,000 after buying an additional 220,214 shares in the last quarter. American Century Companies Inc. raised its stake in Bank OZK by 10.5% during the first quarter. American Century Companies Inc. now owns 2,405,292 shares of the company's stock valued at $104,510,000 after buying an additional 228,295 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Bank OZK by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 1,127,576 shares of the company's stock valued at $48,993,000 after buying an additional 23,492 shares in the last quarter. Newport Trust Company LLC raised its stake in Bank OZK by 0.6% during the first quarter. Newport Trust Company LLC now owns 656,987 shares of the company's stock valued at $28,546,000 after buying an additional 4,146 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its stake in Bank OZK by 0.3% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 487,991 shares of the company's stock valued at $21,203,000 after buying an additional 1,563 shares in the last quarter. Institutional investors and hedge funds own 86.18% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. 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 report on Tuesday, July 8th. Stephens raised Bank OZK from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $58.00 to $65.00 in a report on Wednesday, August 20th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Bank OZK in a report on Wednesday, October 8th. Wells Fargo & Company upped their target price on Bank OZK from $49.00 to $50.00 and gave the company an "equal weight" rating in a report on Monday, September 29th. Finally, Morgan Stanley upped their target price on Bank OZK from $55.00 to $63.00 and gave the company an "underperform" rating in a report on Monday, September 29th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Bank OZK has an average rating of "Hold" and a consensus price target of $57.22.

Bank OZK Stock Performance

Shares of OZK stock opened at $45.96 on Monday. 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 $5.23 billion, a price-to-earnings ratio of 7.41 and a beta of 0.88. The business has a 50 day simple moving average of $51.20 and a 200 day simple moving average of $47.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.03 and a quick ratio of 1.04.

Bank OZK (NASDAQ:OZK - Get Free Report) last issued its quarterly earnings data on Thursday, October 16th. The company reported $1.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.66 by ($0.07). Bank OZK had a return on equity of 13.00% and a net margin of 25.81%.The business had revenue of $449.94 million during the quarter, compared to the consensus estimate of $447.93 million. During the same period last year, the company earned $1.55 earnings per share. On average, equities research analysts anticipate that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Tuesday, October 14th will be issued a $0.45 dividend. This is a positive change from Bank OZK's previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $1.80 dividend on an annualized basis and a yield of 3.9%. Bank OZK's dividend payout ratio is currently 29.03%.

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.

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