Van Berkom & Associates Inc. Cuts Holdings in Bank OZK (NASDAQ:OZK)

Key Points

• Van Berkom & Associates Inc. reduced its stake in Bank OZK by 0.7%, selling 13,785 shares in the first quarter, bringing its holdings to 1,828,701 shares worth approximately $79.46 million.
• Bank OZK reported earnings per share (EPS) of $1.58 for the most recent quarter, exceeding estimates and reflecting a net margin of 25.83% and a return on equity of 13.24%.
• The company announced a dividend increase to $0.44 per share, marking a yield of 3.42%, with a payout ratio of 28.57%.

Van Berkom & Associates Inc. reduced its stake in Bank OZK (NASDAQ:OZK - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,828,701 shares of the company's stock after selling 13,785 shares during the period. Bank OZK makes up approximately 2.5% of Van Berkom & Associates Inc.'s investment portfolio, making the stock its 15th biggest position. Van Berkom & Associates Inc. owned about 1.61% of Bank OZK worth $79,457,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CX Institutional acquired a new stake in shares of Bank OZK in the 1st quarter valued at about $30,000. Bruce G. Allen Investments LLC lifted its stake in Bank OZK by 4,828.6% in 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 during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in Bank OZK in the fourth quarter valued at approximately $54,000. UMB Bank n.a. lifted its position 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 worth $64,000 after acquiring an additional 1,410 shares in the last quarter. Finally, Whipplewood Advisors LLC lifted its position 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 worth $87,000 after acquiring an additional 1,820 shares in the last quarter. 86.18% of the stock is currently owned by institutional investors.

Bank OZK Price Performance

OZK stock traded up $0.36 during mid-day trading on Wednesday, hitting $50.62. The company had a trading volume of 228,539 shares, compared to its average volume of 1,205,693. The company has a market capitalization of $5.76 billion, a price-to-earnings ratio of 8.21 and a beta of 0.85. Bank OZK has a 12-month low of $35.71 and a 12-month high of $53.64. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $47.89 and a 200 day moving average price of $46.39.

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 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 firm had revenue of $428.04 million for the quarter, compared to analysts' expectations of $423.41 million. During the same period in the prior year, the company earned $1.52 EPS. On average, 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 disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Friday, July 11th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, July 11th. This is an increase from Bank OZK's previous quarterly dividend of $0.43. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.48%. Bank OZK's dividend payout ratio (DPR) is currently 28.57%.

Analysts Set New Price Targets

A number of research firms recently commented on OZK. Wells Fargo & Company increased their target price on Bank OZK from $48.00 to $49.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. Keefe, Bruyette & Woods lowered 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 raised Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 price objective for the company in a research report on Tuesday, July 8th. Finally, Stephens decreased their price objective on shares of Bank OZK from $59.00 to $54.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $52.88.

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.