Rafferty Asset Management LLC Sells 106,547 Shares of Bank OZK (NASDAQ:OZK)

Rafferty Asset Management LLC reduced its holdings in shares of Bank OZK (NASDAQ:OZK - Free Report) by 30.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 242,543 shares of the company's stock after selling 106,547 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.21% of Bank OZK worth $10,800,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kestra Investment Management LLC bought a new position in shares of Bank OZK in the fourth quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Bank OZK in the fourth quarter valued at $27,000. Smartleaf Asset Management LLC grew 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 in the last quarter. V Square Quantitative Management LLC grew 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 in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Bank OZK in the fourth quarter valued at $54,000. 86.18% of the stock is owned by institutional investors.

Bank OZK Stock Performance

Shares of OZK traded down $0.20 during midday trading on Tuesday, reaching $46.37. 481,524 shares of the stock were exchanged, compared to its average volume of 1,336,908. The company has a market cap of $5.26 billion, a P/E ratio of 7.55 and a beta of 0.85. The stock's 50 day simple moving average is $42.80 and its 200 day simple moving average is $45.91. Bank OZK has a twelve month low of $35.71 and a twelve month high of $53.64. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.16.

Bank OZK (NASDAQ:OZK - Get Free Report) last posted 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. The business had revenue of $409.23 million during the quarter, compared to the consensus estimate of $403.05 million. Bank OZK had a return on equity of 13.90% and a net margin of 25.83%. During the same quarter in the previous year, the firm earned $1.51 earnings per share. On average, sell-side analysts expect that Bank OZK will post 6.02 earnings per share for the current year.

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 14th were paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date was Monday, April 14th. This is an increase from Bank OZK's previous quarterly dividend of $0.42. Bank OZK's payout ratio is 28.20%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Stephens decreased their target price on shares of Bank OZK from $59.00 to $54.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Keefe, Bruyette & Woods reduced 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 research report on Tuesday, April 22nd. Morgan Stanley reduced their price objective on shares of Bank OZK from $58.00 to $54.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. Finally, Wells Fargo & Company reduced their price objective on shares of Bank OZK from $48.00 to $40.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $49.13.

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.