Danske Bank A S Sells 20,951 Shares of Bank OZK $OZK

Key Points

• Danske Bank A S cut its Bank OZK stake by 96.8% in the fourth quarter, leaving it with just 700 shares worth about $32,000.
• Bank OZK reported Q1 earnings of $1.44 per share, slightly below estimates, while revenue came in ahead of expectations at $424.3 million. Analysts now expect the bank to earn 6.03 EPS for the full year.
• The bank continues to pay a solid dividend, recently distributing $0.47 per share quarterly, equal to an annualized yield of 3.9%. Its stock opened at $48.50 and remains below the consensus analyst target of $56.89.

Danske Bank A S lessened its stake in shares of Bank OZK (NASDAQ:OZK - Free Report) by 96.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 700 shares of the company's stock after selling 20,951 shares during the period. Danske Bank A S's holdings in Bank OZK were worth $32,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wasatch Advisors LP raised its holdings in shares of Bank OZK by 34.9% during the third 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 period. First Trust Advisors LP grew its stake in shares of Bank OZK by 0.6% in the 3rd quarter. First Trust Advisors LP now owns 2,808,166 shares of the company's stock valued at $143,160,000 after buying an additional 17,427 shares during the period. American Century Companies Inc. increased its position in Bank OZK by 4.3% in the 3rd quarter. American Century Companies Inc. now owns 2,743,655 shares of the company's stock valued at $139,872,000 after buying an additional 112,048 shares in the last quarter. Van Berkom & Associates Inc. increased its position in Bank OZK by 0.7% in the 3rd quarter. Van Berkom & Associates Inc. now owns 1,818,447 shares of the company's stock valued at $92,704,000 after buying an additional 12,733 shares in the last quarter. Finally, Fairholme Capital Management LLC raised its stake in Bank OZK by 45.1% during the 2nd quarter. Fairholme Capital Management LLC now owns 916,752 shares of the company's stock worth $43,142,000 after buying an additional 285,150 shares during the period. 86.18% of the stock is owned by institutional investors.

Bank OZK Price Performance

OZK stock opened at $48.50 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.02 and a current ratio of 1.00. The business has a 50-day simple moving average of $46.58 and a two-hundred day simple moving average of $46.81. The company has a market capitalization of $5.43 billion, a P/E ratio of 7.90 and a beta of 0.91. Bank OZK has a 52-week low of $42.37 and a 52-week high of $53.66.

Bank OZK (NASDAQ:OZK - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.02). Bank OZK had a return on equity of 12.32% and a net margin of 25.27%.The company had revenue of $424.32 million during the quarter, compared to analysts' expectations of $422.62 million. During the same period last year, the company earned $1.47 earnings per share. The business's revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts expect that Bank OZK will post 6.03 EPS for the current fiscal year.

Bank OZK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 20th. Investors of record on Monday, April 13th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Monday, April 13th. Bank OZK's dividend payout ratio is presently 30.62%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on OZK. Stephens reduced their price objective on Bank OZK from $64.00 to $62.00 and set an "overweight" rating for the company in a research note on Thursday, January 22nd. Weiss Ratings raised Bank OZK from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, April 21st. Piper Sandler set a $62.00 target price on Bank OZK in a report on Thursday, January 22nd. Morgan Stanley lifted their price target on shares of Bank OZK from $57.00 to $61.00 and gave the company an "equal weight" rating in a research report on Monday, March 2nd. Finally, Wall Street Zen lowered shares of Bank OZK from a "hold" rating to a "sell" rating in a research note on Saturday. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $56.89.

Bank OZK Profile

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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