LSV Asset Management Reduces Holdings in Bank OZK (NASDAQ:OZK)

Key Points

• LSV Asset Management reduced its stake in Bank OZK by 5.2% in the first quarter, ending with approximately 0.42% ownership valued at $20.6 million.
• Bank OZK's recent quarterly earnings surpassed analyst expectations, reporting $1.58 EPS compared to a consensus estimate of $1.51, alongside a notable increase in revenue.
• The company has announced a quarterly dividend of $0.44, up from the previous $0.43, resulting in an annualized dividend yield of 3.7%.

LSV Asset Management trimmed its stake in Bank OZK (NASDAQ:OZK - Free Report) by 5.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 474,446 shares of the company's stock after selling 26,194 shares during the period. LSV Asset Management owned approximately 0.42% of Bank OZK worth $20,615,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of OZK. Commonwealth Equity Services LLC boosted its stake in Bank OZK by 6.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 9,580 shares of the company's stock worth $427,000 after purchasing an additional 607 shares during the period. Pictet Asset Management Holding SA boosted its stake in Bank OZK by 6.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 17,568 shares of the company's stock worth $782,000 after purchasing an additional 1,100 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in Bank OZK by 1.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,184 shares of the company's stock worth $498,000 after purchasing an additional 193 shares during the period. Geode Capital Management LLC boosted its stake in Bank OZK by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 2,038,463 shares of the company's stock worth $90,798,000 after purchasing an additional 15,484 shares during the period. Finally, Landscape Capital Management L.L.C. acquired a new stake in Bank OZK during the 4th quarter worth $729,000. 86.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OZK has been the subject of a number of recent research reports. Keefe, Bruyette & Woods decreased their price target on shares of Bank OZK from $50.00 to $48.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Raymond James Financial upgraded shares of Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 price target for the company in a research note on Tuesday, July 8th. Wells Fargo & Company increased their price target on shares of Bank OZK from $48.00 to $49.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. Finally, Stephens decreased their price target on shares of Bank OZK from $59.00 to $54.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $52.88.

Bank OZK Stock Down 3.0%

OZK stock opened at $47.82 on Monday. Bank OZK has a one year low of $35.71 and a one year high of $53.64. The stock has a market capitalization of $5.44 billion, a PE ratio of 7.76 and a beta of 0.86. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.02 and a current ratio of 1.04. The company has a fifty day moving average of $48.15 and a 200-day moving average of $46.50.

Bank OZK (NASDAQ:OZK - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.51 by $0.07. Bank OZK had a net margin of 25.83% and a return on equity of 13.24%. The company had revenue of $428.04 million during the quarter, compared to analysts' expectations of $423.41 million. During the same quarter last year, the business earned $1.52 EPS. As a group, analysts expect that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Friday, July 11th were paid a $0.44 dividend. This is a boost from Bank OZK's previous quarterly dividend of $0.43. The ex-dividend date was Friday, July 11th. This represents a $1.76 annualized dividend and a dividend yield of 3.7%. Bank OZK's dividend payout ratio (DPR) 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.

Want to see what other hedge funds are holding OZK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank OZK (NASDAQ:OZK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.