Y Intercept Hong Kong Ltd Reduces Stock Position in Bank OZK $OZK

Y Intercept Hong Kong Ltd reduced its holdings in shares of Bank OZK (NASDAQ:OZK) by 53.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,074 shares of the company’s stock after selling 13,638 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Bank OZK were worth $568,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. acquired a new stake in shares of Bank OZK in the 1st quarter valued at about $232,000. Bank of New York Mellon Corp increased its holdings in shares of Bank OZK by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 1,127,576 shares of the company’s stock valued at $48,993,000 after acquiring an additional 23,492 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in Bank OZK during the first quarter worth $307,000. Envestnet Asset Management Inc. raised its stake in Bank OZK by 6.1% during the first quarter. Envestnet Asset Management Inc. now owns 143,400 shares of the company’s stock worth $6,231,000 after acquiring an additional 8,261 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in shares of Bank OZK by 12.9% in the first quarter. Nisa Investment Advisors LLC now owns 47,869 shares of the company’s stock valued at $2,080,000 after purchasing an additional 5,478 shares during the period. 86.18% of the stock is owned by institutional investors and hedge funds.

Bank OZK Stock Performance

NASDAQ:OZK opened at $43.79 on Friday. The firm has a market capitalization of $4.98 billion, a PE ratio of 7.06 and a beta of 0.94. The company has a current ratio of 1.03, a quick ratio of 1.04 and a debt-to-equity ratio of 0.13. Bank OZK has a 1 year low of $35.71 and a 1 year high of $53.66. The firm’s fifty day simple moving average is $49.67 and its 200 day simple moving average is $48.23.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings results on Thursday, October 16th. The company reported $1.59 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.07). The company had revenue of $449.94 million during the quarter, compared to the consensus estimate of $447.93 million. Bank OZK had a net margin of 25.81% and a return on equity of 13.00%. During the same period last year, the company earned $1.55 earnings per share. On average, sell-side analysts anticipate that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Tuesday, October 14th were given a dividend of $0.45 per share. This is a boost from Bank OZK’s previous quarterly dividend of $0.44. The ex-dividend date was Tuesday, October 14th. This represents a $1.80 dividend on an annualized basis and a yield of 4.1%. Bank OZK’s dividend payout ratio is currently 29.03%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on OZK. Wells Fargo & Company upped their price target on shares of Bank OZK from $49.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, September 29th. Cowen reaffirmed a “buy” rating on shares of Bank OZK in a report on Tuesday, October 21st. National Bankshares set a $67.00 price objective on Bank OZK in a research note on Wednesday, September 24th. UBS Group decreased their price target on Bank OZK from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, October 28th. Finally, Wall Street Zen cut shares of Bank OZK from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $58.75.

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.