Teacher Retirement System of Texas Lowers Stock Holdings in Bank OZK (NASDAQ:OZK)

Teacher Retirement System of Texas cut its stake in Bank OZK (NASDAQ:OZK - Free Report) by 20.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,464 shares of the company's stock after selling 8,066 shares during the period. Teacher Retirement System of Texas' holdings in Bank OZK were worth $1,324,000 at the end of the most recent reporting period.

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

Bank OZK Stock Performance

NASDAQ:OZK traded up $0.48 during trading hours on Wednesday, reaching $51.19. The company had a trading volume of 973,622 shares, compared to its average volume of 1,210,079. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.14. Bank OZK has a 52 week low of $35.71 and a 52 week high of $53.64. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 8.39 and a beta of 0.85. The firm's 50 day moving average price is $46.74 and its 200-day moving average price is $45.83.

Bank OZK (NASDAQ:OZK - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.05. The business had revenue of $409.23 million for the quarter, compared to analysts' expectations of $403.05 million. Bank OZK had a net margin of 25.66% and a return on equity of 13.46%. During the same quarter last year, the company posted $1.51 EPS. On average, analysts forecast that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Friday, July 11th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Friday, July 11th. This is a boost from Bank OZK's previous quarterly dividend of $0.43. Bank OZK's dividend payout ratio (DPR) is currently 28.85%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Raymond James Financial raised shares of Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 target price for the company in a research note on Tuesday, July 8th. Wells Fargo & Company raised their price target on shares of Bank OZK from $40.00 to $48.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Stephens reduced 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. Finally, Keefe, Bruyette & Woods reduced 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 report on Tuesday, April 22nd. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Bank OZK presently has an average rating of "Hold" and a consensus price target of $52.75.

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.