Bank OZK $OZK Shares Sold by Van Berkom & Associates Inc.

Key Points

• Van Berkom & Associates cut its Bank OZK stake by 11.5% in the third quarter, selling 184,252 shares; it retained 1.42 million shares worth about $65.3 million.
• Bank OZK reported quarterly EPS of $1.50, beating the $1.43 consensus, though revenue of $391.5 million came in below estimates. It also raised its quarterly dividend to $0.49 per share.
• Analysts’ consensus rating was Hold, with an average price target of $55.14; institutional investors collectively owned 86.18% of the stock.

Van Berkom & Associates Inc. reduced its position in shares of Bank OZK (NASDAQ:OZK - Free Report) by 11.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,420,315 shares of the company's stock after selling 184,252 shares during the period. Bank OZK accounts for about 2.3% of Van Berkom & Associates Inc.'s holdings, making the stock its 18th biggest position. Van Berkom & Associates Inc. owned approximately 1.27% of Bank OZK worth $65,278,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Elevation Wealth Partners LLC grew its position in Bank OZK by 68.8% in the 3rd quarter. Elevation Wealth Partners LLC now owns 660 shares of the company's stock worth $30,000 after purchasing an additional 269 shares in the last quarter. IFP Advisors Inc increased its stake in Bank OZK by 1,307.5% in the 2nd quarter. IFP Advisors Inc now owns 746 shares of the company's stock valued at $39,000 after buying an additional 693 shares during the last quarter. Root Financial Partners LLC bought a new position in shares of Bank OZK during the 3rd quarter worth approximately $59,000. Pathway Financial Advisers LLC bought a new position in shares of Bank OZK during the 3rd quarter worth approximately $66,000. Finally, Miller Global Investments LLC bought a new position in shares of Bank OZK during the 3rd quarter worth approximately $66,000. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

Bank OZK Price Performance

OZK opened at $51.18 on Tuesday. Bank OZK has a fifty-two week low of $42.37 and a fifty-two week high of $53.39. The firm has a 50-day moving average of $48.07 and a 200 day moving average of $48.58. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.97 and a current ratio of 0.98. The firm has a market cap of $5.73 billion, a P/E ratio of 8.69 and a beta of 0.90.

Bank OZK (NASDAQ:OZK - Get Free Report) last announced its quarterly earnings data on Tuesday, October 20th. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.43 by $0.07. The business had revenue of $391.48 million for the quarter, compared to analyst estimates of $434.83 million. Bank OZK had a net margin of 24.70% and a return on equity of 11.56%. During the same quarter in the previous year, the firm posted $1.59 earnings per share. On average, research analysts expect that Bank OZK will post 5.91 EPS for the current year.

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 20th. Stockholders of record on Tuesday, October 13th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Tuesday, October 13th. This is an increase from Bank OZK's previous quarterly dividend of $0.48. Bank OZK's dividend payout ratio (DPR) is 32.89%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on OZK. Zacks Research upgraded Bank OZK from a "strong sell" rating to a "hold" rating in a research note on Friday, September 25th. UBS Group increased their price target on Bank OZK from $50.00 to $51.00 and gave the company a "neutral" rating in a research report on Tuesday, July 28th. Piper Sandler reaffirmed an "overweight" rating and set a $61.00 price target on shares of Bank OZK in a research report on Wednesday, July 22nd. Wells Fargo & Company dropped their price target on Bank OZK from $56.00 to $51.00 and set an "equal weight" rating on the stock in a report on Tuesday, September 29th. Finally, Weiss Ratings raised Bank OZK from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 29th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $55.14.

About Bank OZK

Bank OZK is a regional bank headquartered in Little Rock, Arkansas. It provides consumer and business banking services, including deposit accounts, loans, treasury management and digital banking.

The bank is particularly known for commercial real estate lending through its Real Estate Specialties Group. It also serves customers through community banking operations, offering services to individuals, businesses and commercial clients.

Founded in 1903 as a community bank in Arkansas, the company adopted the Bank OZK name in 2018.

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