Invesco Ltd. Lowers Stock Holdings in Bank OZK $OZK

Key Points

• Invesco Ltd. reduced its stake in Bank OZK shares by 2.6%, owning 558,915 shares after selling 14,657 shares in the first quarter.
• Bank OZK recently reported earnings of $1.58 per share for the last quarter, exceeding estimates, and announced an increased quarterly dividend of $0.44.
• Brokerages have upgraded Bank OZK's stock ratings, with target prices raised, indicating a shift in investor sentiment toward a more positive outlook.

Invesco Ltd. cut its stake in shares of Bank OZK (NASDAQ:OZK - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 558,915 shares of the company's stock after selling 14,657 shares during the quarter. Invesco Ltd. owned 0.49% of Bank OZK worth $24,285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in OZK. AQR Capital Management LLC increased its position in Bank OZK by 12.6% during the 4th quarter. AQR Capital Management LLC now owns 2,811,354 shares of the company's stock valued at $125,190,000 after purchasing an additional 314,488 shares during the period. Northern Trust Corp increased its holdings in Bank OZK by 35.1% in the 4th quarter. Northern Trust Corp now owns 1,015,853 shares of the company's stock worth $45,236,000 after acquiring an additional 263,913 shares in the last quarter. GAMMA Investing LLC boosted its stake in Bank OZK by 5,021.2% in the 1st quarter. GAMMA Investing LLC now owns 243,668 shares of the company's stock worth $10,587,000 after purchasing an additional 238,910 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Bank OZK by 5.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,350,220 shares of the company's stock valued at $189,017,000 after acquiring an additional 220,214 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Bank OZK by 207.4% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 184,924 shares of the company's stock valued at $8,035,000 after acquiring an additional 124,764 shares during the last quarter. 86.18% of the stock is owned by hedge funds and other institutional investors.

Bank OZK Trading Down 0.7%

NASDAQ OZK traded down $0.3430 on Monday, reaching $51.8770. 216,489 shares of the company were exchanged, compared to its average volume of 1,173,146. The business's fifty day moving average price is $49.41 and its 200 day moving average price is $46.34. The stock has a market capitalization of $5.90 billion, a P/E ratio of 8.43 and a beta of 0.86. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.23. Bank OZK has a fifty-two week low of $35.71 and a fifty-two week high of $53.64.

Bank OZK (NASDAQ:OZK - Get Free Report) last posted its quarterly 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. Bank OZK had a return on equity of 13.24% and a net margin of 25.83%.The company had revenue of $428.04 million for the quarter, compared to analyst estimates of $423.41 million. During the same quarter last year, the company earned $1.52 EPS. Analysts forecast that Bank OZK will post 6.02 earnings per share for the current year.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Friday, July 11th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Friday, July 11th. This is a positive change from Bank OZK's previous quarterly dividend of $0.43. Bank OZK's payout ratio is 28.57%.

Analysts Set New Price Targets

A number of analysts have weighed in on OZK shares. Raymond James Financial upgraded Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 target price on the stock in a research note on Tuesday, July 8th. Stephens upgraded Bank OZK from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $58.00 to $65.00 in a research note on Wednesday, August 20th. Finally, Wells Fargo & Company boosted their price target on Bank OZK from $48.00 to $49.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Bank OZK presently has a consensus rating of "Hold" and a consensus target price of $54.25.

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.