Rhumbline Advisers Sells 34,507 Shares of Bank OZK (NASDAQ:OZK)

Rhumbline Advisers decreased its position in Bank OZK (NASDAQ:OZK - Free Report) by 10.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 307,910 shares of the company's stock after selling 34,507 shares during the quarter. Rhumbline Advisers owned about 0.27% of Bank OZK worth $13,379,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kestra Investment Management LLC bought a new stake in shares of Bank OZK in the fourth quarter valued at approximately $27,000. Smartleaf Asset Management LLC boosted its stake in shares of Bank OZK by 176.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 761 shares of the company's stock valued at $34,000 after buying an additional 486 shares during the period. V Square Quantitative Management LLC boosted its stake in shares of Bank OZK by 81.3% in the fourth quarter. V Square Quantitative Management LLC now owns 948 shares of the company's stock valued at $42,000 after buying an additional 425 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in shares of Bank OZK in the fourth quarter valued at approximately $54,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of Bank OZK by 44.3% in the fourth quarter. Jones Financial Companies Lllp now owns 2,095 shares of the company's stock valued at $93,000 after buying an additional 643 shares during the period. Institutional investors and hedge funds own 86.18% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on OZK. Wells Fargo & Company cut their target price on Bank OZK from $48.00 to $40.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. 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. Morgan Stanley reduced their target price on Bank OZK from $58.00 to $54.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. Finally, Stephens reduced their target price on Bank OZK from $59.00 to $54.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Bank OZK currently has a consensus rating of "Hold" and an average price target of $50.86.

Bank OZK Price Performance

Shares of OZK traded down $0.66 during trading hours on Wednesday, reaching $45.72. The stock had a trading volume of 644,022 shares, compared to its average volume of 1,263,544. Bank OZK has a 12 month low of $35.71 and a 12 month high of $53.64. The stock has a market capitalization of $5.19 billion, a PE ratio of 7.45 and a beta of 0.85. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.02 and a current ratio of 1.03. The company's 50-day moving average is $43.23 and its two-hundred day moving average is $45.64.

Bank OZK (NASDAQ:OZK - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The company reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.42 by $0.05. Bank OZK had a return on equity of 13.90% and a net margin of 25.83%. The company had revenue of $409.23 million during the quarter, compared to analysts' expectations of $403.05 million. During the same period in the prior year, the company earned $1.51 EPS. Research analysts expect that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 14th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.76%. This is a boost from Bank OZK's previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, April 14th. Bank OZK's dividend payout ratio is presently 28.20%.

About Bank OZK

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.