MAI Capital Management Sells 14,160 Shares of Bank OZK $OZK

Key Points

• MAI Capital Management reduced its stake in Bank OZK by 13.6%, now holding 90,323 shares valued at approximately $3.93 million.
• Bank OZK announced a quarterly dividend increase to $0.44, reflecting an annualized dividend of $1.76 with a yield of 3.4%.
• Analysts have provided mixed ratings, with a consensus rating of "Hold" and a target price of $54.25 for Bank OZK shares.

MAI Capital Management lessened its holdings in Bank OZK (NASDAQ:OZK - Free Report) by 13.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,323 shares of the company's stock after selling 14,160 shares during the quarter. MAI Capital Management owned approximately 0.08% of Bank OZK worth $3,925,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in OZK. Nuveen LLC bought a new stake in Bank OZK in the first quarter valued at $14,197,000. Earnest Partners LLC bought a new stake in Bank OZK in the first quarter valued at $12,696,000. Northern Trust Corp raised its stake in shares of Bank OZK by 35.1% during the fourth quarter. Northern Trust Corp now owns 1,015,853 shares of the company's stock valued at $45,236,000 after purchasing an additional 263,913 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of Bank OZK during the first quarter valued at about $11,297,000. Finally, GAMMA Investing LLC raised its stake in shares of Bank OZK by 5,021.2% during the first quarter. GAMMA Investing LLC now owns 243,668 shares of the company's stock valued at $10,587,000 after purchasing an additional 238,910 shares in the last quarter. 86.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Stephens raised Bank OZK from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $58.00 to $65.00 in a report on Wednesday, August 20th. Wells Fargo & Company lifted 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. Finally, Raymond James Financial raised 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. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $54.25.

Bank OZK Stock Performance

Bank OZK stock traded down $0.58 during trading hours on Friday, reaching $52.35. 746,295 shares of the company were exchanged, compared to its average volume of 765,209. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 8.50 and a beta of 0.92. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average of $50.75 and a 200 day moving average of $46.45. Bank OZK has a 12 month low of $35.71 and a 12 month high of $53.66.

Bank OZK (NASDAQ:OZK - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.51 by $0.07. The firm had revenue of $428.04 million during the quarter, compared to analysts' expectations of $423.41 million. Bank OZK had a return on equity of 13.24% and a net margin of 25.83%.During the same quarter in the prior year, the business earned $1.52 earnings per share. As a group, research analysts anticipate that Bank OZK will post 6.02 earnings per share for the current 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 issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis 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 presently 28.57%.

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.