State Board of Administration of Florida Retirement System Cuts Stake in Bank OZK (NASDAQ:OZK)

State Board of Administration of Florida Retirement System reduced its holdings in shares of Bank OZK (NASDAQ:OZK) by 0.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 146,066 shares of the company’s stock after selling 317 shares during the period. State Board of Administration of Florida Retirement System owned about 0.11% of Bank OZK worth $6,278,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. TCW Group Inc. grew its holdings in Bank OZK by 18.6% during the 3rd quarter. TCW Group Inc. now owns 293,390 shares of the company’s stock worth $12,610,000 after acquiring an additional 46,050 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in Bank OZK by 59.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 69,054 shares of the company’s stock worth $2,911,000 after acquiring an additional 25,639 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Bank OZK by 5.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 6,557 shares of the company’s stock worth $282,000 after acquiring an additional 356 shares in the last quarter. Cabot Wealth Management Inc. grew its holdings in Bank OZK by 0.5% during the 3rd quarter. Cabot Wealth Management Inc. now owns 486,875 shares of the company’s stock worth $20,926,000 after acquiring an additional 2,184 shares in the last quarter. Finally, US Bancorp DE grew its holdings in Bank OZK by 7.3% during the 2nd quarter. US Bancorp DE now owns 4,057 shares of the company’s stock worth $171,000 after acquiring an additional 276 shares in the last quarter. 79.03% of the stock is currently owned by hedge funds and other institutional investors.

OZK has been the subject of several research analyst reports. Raymond James upped their target price on shares of Bank OZK from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, January 6th. Zacks Investment Research upgraded shares of Bank OZK from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Tuesday, December 28th. Finally, Morgan Stanley upped their target price on shares of Bank OZK from $53.00 to $58.00 and gave the company an “equal weight” rating in a report on Monday, December 6th.

Shares of NASDAQ:OZK opened at $50.46 on Friday. The stock has a market cap of $6.53 billion, a P/E ratio of 11.93 and a beta of 1.67. The firm has a fifty day moving average price of $46.89 and a 200 day moving average price of $44.07. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.98 and a quick ratio of 0.98. Bank OZK has a 1-year low of $33.90 and a 1-year high of $51.39.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings results on Wednesday, October 20th. The company reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.03. The firm had revenue of $273.94 million during the quarter, compared to analysts’ expectations of $264.05 million. Bank OZK had a net margin of 46.64% and a return on equity of 12.31%. During the same quarter in the prior year, the business earned $0.84 EPS. Sell-side analysts expect that Bank OZK will post 4.26 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 21st. Investors of record on Friday, January 14th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, January 13th. This represents a $1.20 dividend on an annualized basis and a yield of 2.38%. This is a boost from Bank OZK’s previous quarterly dividend of $0.29. Bank OZK’s dividend payout ratio is currently 27.42%.

Bank OZK Profile

Bank OZK engages in the provision of community banking services. The firm offers deposit services such as checking, savings, money market, time deposit, and individual retirement accounts. It also provides loan services including types of real estate, consumer, commercial, industrial, and agricultural loans.

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Institutional Ownership by Quarter for Bank OZK (NASDAQ:OZK)

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