Bank OZK $OZK Stock Holdings Trimmed by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in Bank OZK by 26.3%, selling 787,882 shares, leaving it with a total of 2,205,406 shares valued at approximately $95.8 million.
• Bank OZK's recent earnings report showed $1.58 earnings per share for the quarter, exceeding expectations, and a quarterly dividend was also increased to $0.44, reflecting a dividend yield of 3.5%.
• Analyst ratings for Bank OZK include three buy ratings and five holds, with a consensus price target of $54.25, reflecting a mixed outlook from research firms.

Wellington Management Group LLP lessened its holdings in shares of Bank OZK (NASDAQ:OZK - Free Report) by 26.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,205,406 shares of the company's stock after selling 787,882 shares during the period. Wellington Management Group LLP owned approximately 1.94% of Bank OZK worth $95,825,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its position in Bank OZK by 4.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,693 shares of the company's stock worth $1,029,000 after purchasing an additional 1,086 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Bank OZK by 55.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 129,980 shares of the company's stock worth $5,639,000 after purchasing an additional 46,349 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Bank OZK by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 1,127,576 shares of the company's stock worth $48,993,000 after purchasing an additional 23,492 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Bank OZK by 13.4% in the first quarter. PNC Financial Services Group Inc. now owns 6,614 shares of the company's stock valued at $287,000 after acquiring an additional 782 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Bank OZK by 5,021.2% in the first quarter. GAMMA Investing LLC now owns 243,668 shares of the company's stock valued at $10,587,000 after acquiring an additional 238,910 shares in the last quarter. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OZK has been the topic of several recent research reports. Stephens upgraded Bank OZK from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $58.00 to $65.00 in a research report on Wednesday, August 20th. Wells Fargo & Company raised their price objective on Bank OZK from $48.00 to $49.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Finally, Raymond James Financial upgraded Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 price objective on the stock in a report on Tuesday, July 8th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $54.25.

Bank OZK Stock Up 2.3%

Shares of NASDAQ:OZK traded up $1.22 during mid-day trading on Wednesday, hitting $53.35. 144,378 shares of the company traded hands, compared to its average volume of 1,166,438. The firm has a market cap of $6.07 billion, a P/E ratio of 8.67 and a beta of 0.86. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.02 and a current ratio of 1.04. Bank OZK has a 52-week low of $35.71 and a 52-week high of $53.64. The firm's 50 day simple moving average is $49.70 and its 200 day simple moving average is $46.38.

Bank OZK (NASDAQ:OZK - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.07. Bank OZK had a return on equity of 13.24% and a net margin of 25.83%.The company had revenue of $428.04 million for the quarter, compared to the consensus estimate of $423.41 million. During the same period in the previous year, the business earned $1.52 EPS. On average, equities analysts anticipate that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Friday, July 11th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, July 11th. This is a positive change from Bank OZK's previous quarterly dividend of $0.43. Bank OZK's payout ratio is 28.57%.

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.