Bank OZK $OZK Shares Sold by Edgestream Partners L.P.

Key Points

• Edgestream Partners reduced its Bank OZK stake by 23.9% in the first quarter, selling 63,692 shares and retaining 203,186 shares worth approximately $9.3 million. Institutional investors and hedge funds collectively own 86.18% of the bank.
• Bank OZK reported quarterly EPS of $1.49, slightly above estimates, while revenue reached $430.02 million and rose 0.5% year over year. Shares opened at $51.55, near their 12-month high of $53.66.
• The bank raised its quarterly dividend to $0.48 per share, representing a 3.7% yield, and authorized a $200 million share buyback. Analysts remain broadly neutral, with an average “Hold” rating and a $56.38 price target.

Edgestream Partners L.P. lowered its position in Bank OZK (NASDAQ:OZK - Free Report) by 23.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 203,186 shares of the company's stock after selling 63,692 shares during the quarter. Edgestream Partners L.P. owned about 0.18% of Bank OZK worth $9,324,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wasatch Advisors LP boosted its holdings in Bank OZK by 34.9% in the 3rd quarter. Wasatch Advisors LP now owns 7,437,646 shares of the company's stock valued at $379,171,000 after purchasing an additional 1,924,387 shares during the last quarter. Norges Bank acquired a new stake in shares of Bank OZK during the 4th quarter worth approximately $59,809,000. State Street Corp increased its holdings in shares of Bank OZK by 9.1% during the 4th quarter. State Street Corp now owns 6,556,105 shares of the company's stock worth $301,712,000 after buying an additional 546,785 shares during the last quarter. Fairholme Capital Management LLC raised its position in shares of Bank OZK by 45.1% during the 2nd quarter. Fairholme Capital Management LLC now owns 916,752 shares of the company's stock valued at $43,142,000 after buying an additional 285,150 shares during the period. Finally, Quantinno Capital Management LP raised its position in shares of Bank OZK by 41.7% during the 1st quarter. Quantinno Capital Management LP now owns 929,888 shares of the company's stock valued at $42,673,000 after buying an additional 273,543 shares during the period. 86.18% of the stock is currently owned by institutional investors and hedge funds.

Bank OZK Stock Up 0.1%

Shares of NASDAQ OZK opened at $51.55 on Thursday. The stock has a market cap of $5.77 billion, a P/E ratio of 8.52 and a beta of 0.89. The business's fifty day simple moving average is $50.22 and its 200-day simple moving average is $48.37. Bank OZK has a 12-month low of $42.37 and a 12-month high of $53.66. The company has a current ratio of 0.97, a quick ratio of 1.00 and a debt-to-equity ratio of 0.08.

Bank OZK (NASDAQ:OZK - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.01. The company had revenue of $430.02 million for the quarter, compared to the consensus estimate of $436.42 million. Bank OZK had a return on equity of 11.87% and a net margin of 24.95%.Bank OZK's revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.47 EPS. As a group, equities analysts predict that Bank OZK will post 5.88 EPS for the current fiscal year.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Monday, July 13th were issued a dividend of $0.48 per share. This is a boost from Bank OZK's previous quarterly dividend of $0.47. The ex-dividend date was Monday, July 13th. This represents a $1.92 annualized dividend and a yield of 3.7%. Bank OZK's dividend payout ratio (DPR) is presently 31.74%.

Bank OZK announced that its board has initiated a stock buyback program on Monday, June 29th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

OZK has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their price objective on Bank OZK from $50.00 to $52.00 and gave the company an "equal weight" rating in a report on Monday, July 6th. TD Cowen cut their target price on Bank OZK from $53.00 to $52.00 and set a "hold" rating for the company in a research note on Friday, July 24th. UBS Group lifted their target price on Bank OZK from $50.00 to $51.00 and gave the company a "neutral" rating in a research report on Tuesday. Wall Street Zen lowered Bank OZK from a "hold" rating to a "sell" rating in a research note on Saturday, July 25th. Finally, Morgan Stanley increased their price target on Bank OZK from $54.00 to $56.00 and gave the stock an "equal weight" rating in a report on Monday, June 29th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $56.38.

About Bank OZK

Bank OZK, formerly known as Bank of the Ozarks, is a regional commercial bank headquartered in Little Rock, Arkansas. Established in 1903, the bank offers a full suite of banking products and services to both individual and corporate clients. Through a combination of organic growth and targeted acquisitions, Bank OZK has built a diversified lending portfolio and a strong deposit franchise.

The bank's core operations focus on commercial real estate lending, including acquisition, development and construction financing.

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