Diamond Hill Capital Management Inc. Lowers Position in Bank OZK (NASDAQ:OZK)

Diamond Hill Capital Management Inc. lessened its holdings in shares of Bank OZK (NASDAQ:OZK - Free Report) by 10.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 600,864 shares of the company's stock after selling 68,210 shares during the period. Diamond Hill Capital Management Inc. owned approximately 0.53% of Bank OZK worth $26,108,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wasatch Advisors LP lifted its holdings in shares of Bank OZK by 19.3% during the 4th quarter. Wasatch Advisors LP now owns 7,102,657 shares of the company's stock worth $316,281,000 after acquiring an additional 1,149,880 shares during the period. First Trust Advisors LP lifted its position in shares of Bank OZK by 30.4% during the 4th quarter. First Trust Advisors LP now owns 2,945,480 shares of the company's stock worth $131,162,000 after buying an additional 686,775 shares during the period. AQR Capital Management LLC boosted its stake in Bank OZK by 12.6% in the 4th quarter. AQR Capital Management LLC now owns 2,811,354 shares of the company's stock valued at $125,190,000 after buying an additional 314,488 shares in the last quarter. Geode Capital Management LLC raised its stake in Bank OZK by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 2,038,463 shares of the company's stock worth $90,798,000 after acquiring an additional 15,484 shares in the last quarter. Finally, Captrust Financial Advisors lifted its holdings in shares of Bank OZK by 5.1% during the fourth quarter. Captrust Financial Advisors now owns 1,786,155 shares of the company's stock valued at $79,537,000 after acquiring an additional 87,299 shares during the period. Institutional investors own 86.18% of the company's stock.

Wall Street Analyst Weigh In

OZK has been the topic of several research reports. Wells Fargo & Company upped their price target on Bank OZK from $48.00 to $49.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. Stephens reduced their price target on Bank OZK from $59.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Keefe, Bruyette & Woods reduced their target price on Bank OZK from $50.00 to $48.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Finally, Raymond James Financial upgraded shares of Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 price target on the stock in a research report on Tuesday, July 8th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $52.88.

Bank OZK Trading Down 1.1%

Bank OZK stock traded down $0.57 during trading hours on Friday, hitting $51.50. The stock had a trading volume of 1,083,010 shares, compared to its average volume of 1,151,419. The business's 50 day simple moving average is $47.73 and its 200-day simple moving average is $46.28. Bank OZK has a one year low of $35.71 and a one year high of $53.64. The stock has a market cap of $5.86 billion, a price-to-earnings ratio of 8.36 and a beta of 0.85. 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 (NASDAQ:OZK - Get Free Report) last issued 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. Bank OZK had a return on equity of 13.24% and a net margin of 25.83%. The firm had revenue of $428.04 million during the quarter, compared to analyst estimates of $423.41 million. During the same period in the previous year, the company posted $1.52 EPS. On average, equities analysts predict that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Friday, July 11th were given a $0.44 dividend. The ex-dividend date was Friday, July 11th. This represents a $1.76 annualized dividend and a dividend yield of 3.42%. This is a positive change from Bank OZK's previous quarterly dividend of $0.43. Bank OZK's payout ratio is 28.57%.

Bank OZK 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.