Algert Global LLC Lowers Stock Holdings in Bank OZK (NASDAQ:OZK)

Algert Global LLC cut its holdings in Bank OZK (NASDAQ:OZK) by 15.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 261,032 shares of the company’s stock after selling 48,356 shares during the quarter. Algert Global LLC owned 0.23% of Bank OZK worth $11,342,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Trust Advisors LP raised its holdings in shares of Bank OZK by 30.4% during the fourth quarter. First Trust Advisors LP now owns 2,945,480 shares of the company’s stock valued at $131,162,000 after acquiring an additional 686,775 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Bank OZK during the first quarter worth $14,197,000. Raymond James Financial Inc. acquired a new stake in shares of Bank OZK in the fourth quarter valued at about $14,077,000. AQR Capital Management LLC lifted its stake in shares of Bank OZK by 12.6% in the fourth quarter. AQR Capital Management LLC now owns 2,811,354 shares of the company’s stock worth $125,190,000 after buying an additional 314,488 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Bank OZK by 35.1% in the fourth quarter. Northern Trust Corp now owns 1,015,853 shares of the company’s stock worth $45,236,000 after buying an additional 263,913 shares in the last quarter. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

Bank OZK Trading Down 1.9%

NASDAQ:OZK opened at $49.32 on Friday. Bank OZK has a 12-month low of $35.71 and a 12-month high of $53.64. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.23. The stock’s 50 day simple moving average is $48.95 and its 200-day simple moving average is $46.41. The firm has a market cap of $5.61 billion, a P/E ratio of 8.01 and a beta of 0.86.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings results 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. The firm had revenue of $428.04 million during the quarter, compared to analysts’ expectations of $423.41 million. Bank OZK had a net margin of 25.83% and a return on equity of 13.24%. During the same period in the prior year, the company posted $1.52 earnings per share. Equities analysts anticipate that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Friday, July 11th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.6%. This is an increase from Bank OZK’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Friday, July 11th. Bank OZK’s dividend payout ratio is 28.57%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on OZK. Keefe, Bruyette & Woods cut their price target on 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 shares of Bank OZK from a “market perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a research report on Tuesday, July 8th. Wells Fargo & Company upped their price objective on shares of Bank OZK from $48.00 to $49.00 and gave the company an “equal weight” rating in a report on Monday, July 21st. Finally, Stephens reduced their target price on shares of Bank OZK from $59.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price 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.