Brandywine Global Investment Management LLC Sells 10,124 Shares of Bank OZK $OZK

Key Points

• Brandywine Global Investment Management LLC reduced its holdings in Bank OZK by 3.8%, selling 10,124 shares during the first quarter, leaving them with a total of 258,032 shares valued at approximately $11.2 million.
• Bank OZK recently increased its quarterly dividend from $0.43 to $0.44 per share, representing an annualized yield of 3.6% and a dividend payout ratio of 28.57%.
• Analysts have set new price targets for Bank OZK, with Raymond James raising their rating to "outperform" and setting a price objective of $58.00, while other firms adjusted their targets between $48.00 and $54.00.

Brandywine Global Investment Management LLC decreased its holdings in shares of Bank OZK (NASDAQ:OZK - Free Report) by 3.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 258,032 shares of the company's stock after selling 10,124 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.23% of Bank OZK worth $11,211,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of OZK. Tidal Investments LLC grew its position in shares of Bank OZK by 1.0% during the 4th quarter. Tidal Investments LLC now owns 21,575 shares of the company's stock worth $961,000 after purchasing an additional 205 shares in the last quarter. National Bank of Canada FI grew its position in Bank OZK by 12.8% during the first quarter. National Bank of Canada FI now owns 1,960 shares of the company's stock worth $85,000 after buying an additional 223 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Bank OZK by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 29,600 shares of the company's stock worth $1,286,000 after acquiring an additional 300 shares during the period. State of Alaska Department of Revenue increased its stake in Bank OZK by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 12,359 shares of the company's stock worth $536,000 after acquiring an additional 330 shares during the period. Finally, Focus Partners Advisor Solutions LLC raised its holdings in Bank OZK by 0.9% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 38,327 shares of the company's stock valued at $1,707,000 after acquiring an additional 347 shares in the last quarter. 86.18% of the stock is owned by institutional investors and hedge funds.

Bank OZK Trading Up 4.3%

OZK traded up $2.1610 during midday trading on Friday, hitting $52.0710. 219,481 shares of the company were exchanged, compared to its average volume of 1,175,747. The firm has a market capitalization of $5.92 billion, a P/E ratio of 8.47 and a beta of 0.86. The firm's 50 day moving average price is $49.26 and its 200-day moving average price is $46.42. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. Bank OZK has a 1-year low of $35.71 and a 1-year high of $53.64.

Bank OZK (NASDAQ:OZK - Get Free Report) last posted its quarterly earnings data 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 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 period in the previous year, the firm earned $1.52 earnings per share. As a group, equities analysts forecast that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Friday, July 11th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.4%. This is a boost 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%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on OZK. Wells Fargo & Company raised their price target on Bank OZK from $48.00 to $49.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. Stephens upgraded shares of Bank OZK from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $58.00 to $65.00 in a research report on Wednesday. Finally, Raymond James Financial upgraded Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 target price for the company in a research note on Tuesday, July 8th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $54.25.

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.