Bank OZK (NASDAQ:OZK) Shares Sold by Stevens Capital Management LP

Key Points

• Stevens Capital Management LP reduced its holdings in Bank OZK by 73.5% during the 1st quarter, now owning just 7,001 shares valued at $304,000.
• Bank OZK announced a quarterly dividend increase to $0.44 per share, reflecting a 3.42% dividend yield and a payout ratio of 28.57%.
• Analysts have mixed ratings on Bank OZK, with some upgrades and downgrades leading to an average price target of $52.88 along with a majority rating of "Hold."

Stevens Capital Management LP cut its stake in shares of Bank OZK (NASDAQ:OZK - Free Report) by 73.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,001 shares of the company's stock after selling 19,387 shares during the quarter. Stevens Capital Management LP's holdings in Bank OZK were worth $304,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. CX Institutional purchased a new stake in shares of Bank OZK in the first quarter valued at about $30,000. Bruce G. Allen Investments LLC increased its holdings in Bank OZK by 4,828.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 1,035 shares of the company's stock worth $45,000 after acquiring an additional 1,014 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Bank OZK in the fourth quarter valued at approximately $54,000. UMB Bank n.a. lifted its position in Bank OZK by 2,014.3% during the first quarter. UMB Bank n.a. now owns 1,480 shares of the company's stock valued at $64,000 after purchasing an additional 1,410 shares during the last quarter. Finally, Whipplewood Advisors LLC increased its holdings in shares of Bank OZK by 1,052.0% in the 1st quarter. Whipplewood Advisors LLC now owns 1,993 shares of the company's stock worth $87,000 after buying an additional 1,820 shares during the last quarter. 86.18% of the stock is owned by institutional investors.

Bank OZK Stock Performance

NASDAQ:OZK traded up $0.46 during midday trading on Wednesday, hitting $50.72. The company's stock had a trading volume of 176,318 shares, compared to its average volume of 1,205,025. The firm has a market cap of $5.77 billion, a P/E ratio of 8.23 and a beta of 0.85. Bank OZK has a fifty-two week low of $35.71 and a fifty-two week high of $53.64. The firm's 50 day moving average is $47.89 and its 200-day moving average is $46.39. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 1.02.

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, 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 firm had revenue of $428.04 million for the quarter, compared to analyst estimates of $423.41 million. During the same quarter last year, the firm posted $1.52 EPS. Equities analysts anticipate that Bank OZK will post 6.02 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Friday, July 11th were given a $0.44 dividend. This is an increase from Bank OZK's previous quarterly dividend of $0.43. This represents a $1.76 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend was Friday, July 11th. Bank OZK's payout ratio is currently 28.57%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Stephens dropped 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 report on Monday, April 21st. Keefe, Bruyette & Woods decreased their price objective on shares of Bank OZK from $50.00 to $48.00 and set a "market perform" rating for the company in a report 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 target price on the stock in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company lifted 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. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $52.88.

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.