AQR Capital Management LLC Sells 6,191 Shares of Bank OZK $OZK

Key Points

• AQR Capital Management LLC reduced its stake in Bank OZK by 0.2%, now owning approximately 2.47% of the company, valued at around $120.9 million.
• Bank OZK recently declared a quarterly dividend of $0.44 per share, which represents an increase from the previous dividend of $0.43 and yields 3.3% annually.
• Analysts have made several upward revisions on Bank OZK, with ratings shifting to "outperform" and price targets increasing, indicating a positive outlook for the stock's performance.

AQR Capital Management LLC reduced its stake in Bank OZK (NASDAQ:OZK - Free Report) by 0.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,805,163 shares of the company's stock after selling 6,191 shares during the period. AQR Capital Management LLC owned 2.47% of Bank OZK worth $120,903,000 as of its most recent SEC filing.

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

Bank OZK Stock Down 1.0%

Shares of OZK traded down $0.54 during mid-day trading on Tuesday, reaching $51.99. The company's stock had a trading volume of 634,718 shares, compared to its average volume of 1,153,246. The business has a fifty day moving average of $50.86 and a 200 day moving average of $46.43. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 8.44 and a beta of 0.92. Bank OZK has a 1 year low of $35.71 and a 1 year high of $53.66. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.23.

Bank OZK (NASDAQ:OZK - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.51 by $0.07. The company had revenue of $428.04 million during the quarter, compared to analyst estimates of $423.41 million. Bank OZK had a return on equity of 13.24% and a net margin of 25.83%.During the same quarter in the prior year, the company earned $1.52 earnings per share. As a group, 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 declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Friday, July 11th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.4%. This is a positive change from Bank OZK's previous quarterly dividend of $0.43. The ex-dividend date was Friday, July 11th. Bank OZK's dividend payout ratio is currently 28.57%.

Wall Street Analyst Weigh In

OZK has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price target on Bank OZK from $48.00 to $49.00 and gave the company an "equal weight" rating in a report on Monday, July 21st. Stephens raised Bank OZK from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $58.00 to $65.00 in a report on Wednesday, August 20th. Finally, Raymond James Financial raised Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 target price on the stock in a report on Tuesday, July 8th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Bank OZK has an average rating of "Hold" and a consensus target price of $54.25.

About Bank OZK

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.