Wasatch Advisors LP Sells 480,432 Shares of Bank OZK (NASDAQ:OZK)

Wasatch Advisors LP lessened its position in Bank OZK (NASDAQ:OZK) by 6.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,483,029 shares of the company’s stock after selling 480,432 shares during the period. Bank OZK makes up about 1.5% of Wasatch Advisors LP’s investment portfolio, making the stock its 15th biggest holding. Wasatch Advisors LP owned about 0.06% of Bank OZK worth $294,718,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of OZK. Vanguard Group Inc. raised its holdings in Bank OZK by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 12,028,779 shares of the company’s stock worth $599,394,000 after buying an additional 502,005 shares during the period. Wellington Management Group LLP raised its holdings in shares of Bank OZK by 18.8% during the fourth quarter. Wellington Management Group LLP now owns 1,897,696 shares of the company’s stock worth $94,562,000 after acquiring an additional 300,025 shares during the period. First Trust Advisors LP lifted its position in Bank OZK by 4.2% in the 4th quarter. First Trust Advisors LP now owns 1,279,876 shares of the company’s stock valued at $63,776,000 after acquiring an additional 51,379 shares in the last quarter. Norges Bank acquired a new position in Bank OZK in the 4th quarter worth $56,293,000. Finally, American Century Companies Inc. increased its holdings in Bank OZK by 33.2% during the 3rd quarter. American Century Companies Inc. now owns 716,297 shares of the company’s stock worth $26,553,000 after purchasing an additional 178,620 shares in the last quarter. 86.18% of the stock is currently owned by institutional investors and hedge funds.

Bank OZK Stock Up 1.1 %

Shares of NASDAQ OZK traded up $0.46 during trading hours on Tuesday, hitting $41.25. The company had a trading volume of 1,392,930 shares, compared to its average volume of 1,281,264. Bank OZK has a 1-year low of $34.76 and a 1-year high of $52.36. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.14. The firm’s 50 day moving average is $43.23 and its 200-day moving average is $44.55. The stock has a market capitalization of $4.68 billion, a P/E ratio of 6.91 and a beta of 1.20.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings results on Thursday, April 18th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.07. The firm had revenue of $406.02 million during the quarter, compared to analysts’ expectations of $396.81 million. Bank OZK had a net margin of 28.54% and a return on equity of 14.84%. During the same quarter last year, the company posted $1.41 earnings per share. On average, analysts expect that Bank OZK will post 6.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on OZK shares. Wells Fargo & Company cut their price target on Bank OZK from $39.00 to $35.00 and set an “underweight” rating on the stock in a report on Thursday, June 6th. Truist Financial reduced their price target on Bank OZK from $48.00 to $47.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Keefe, Bruyette & Woods raised their price target on shares of Bank OZK from $45.00 to $47.00 and gave the stock a “market perform” rating in a research note on Monday, April 22nd. Citigroup lowered shares of Bank OZK from a “buy” rating to a “sell” rating and cut their price objective for the stock from $57.00 to $37.00 in a research report on Wednesday, May 29th. Finally, StockNews.com raised shares of Bank OZK from a “sell” rating to a “hold” rating in a research report on Thursday, May 30th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $46.00.

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.