Hsbc Holdings PLC Sells 15,348 Shares of Bank OZK $OZK

Key Points

• Hsbc Holdings PLC has reduced its stake in Bank OZK by 27.9% in the first quarter, holding now 39,586 shares valued at approximately $1.7 million.
• Bank OZK has reported a quarterly earnings of $1.58 per share, exceeding estimates, while revenue also surpassed predictions at $428.04 million.
• The company announced an increase in its quarterly dividend to $0.44, yielding 3.3% annually, which reflects a 28.57% payout ratio.

Hsbc Holdings PLC reduced its holdings in shares of Bank OZK (NASDAQ:OZK - Free Report) by 27.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,586 shares of the company's stock after selling 15,348 shares during the quarter. Hsbc Holdings PLC's holdings in Bank OZK were worth $1,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CX Institutional bought a new stake in shares of Bank OZK in the first quarter worth $30,000. Summit Securities Group LLC bought a new stake in shares of Bank OZK in the first quarter worth $32,000. Bruce G. Allen Investments LLC grew its holdings in shares of Bank OZK by 4,828.6% in the first quarter. Bruce G. Allen Investments LLC now owns 1,035 shares of the company's stock worth $45,000 after acquiring an additional 1,014 shares during the period. Brooklyn Investment Group grew its holdings in shares of Bank OZK by 1,114.3% in the first quarter. Brooklyn Investment Group now owns 1,105 shares of the company's stock worth $48,000 after acquiring an additional 1,014 shares during the period. Finally, UMB Bank n.a. grew its holdings in shares of Bank OZK by 2,014.3% in the first quarter. UMB Bank n.a. now owns 1,480 shares of the company's stock worth $64,000 after acquiring an additional 1,410 shares during the period. 86.18% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts 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 price objective for the company in a report on Tuesday, July 8th. Stephens raised shares of 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. Finally, Wells Fargo & Company upped their target price on shares of Bank OZK from $48.00 to $49.00 and gave the company an "equal weight" rating in a report on Monday, July 21st. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Bank OZK currently has an average rating of "Hold" and a consensus price target of $54.25.

Bank OZK Stock Performance

Bank OZK stock traded up $0.31 during trading on Wednesday, reaching $52.65. The company had a trading volume of 664,185 shares, compared to its average volume of 810,641. Bank OZK has a 52 week low of $35.71 and a 52 week high of $53.66. The firm's 50-day simple moving average is $50.53 and its 200 day simple moving average is $46.43. The firm has a market capitalization of $5.99 billion, a price-to-earnings ratio of 8.55 and a beta of 0.92. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.23.

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

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Friday, July 11th were issued a $0.44 dividend. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.76 annualized dividend and a yield of 3.3%. This is an increase from Bank OZK's previous quarterly dividend of $0.43. Bank OZK's payout ratio is currently 28.57%.

Bank OZK Company 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.