Simmons Bank Decreases Stake in Bank OZK (NASDAQ:OZK)

Simmons Bank trimmed its holdings in shares of Bank OZK (NASDAQ:OZK) by 39.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,574 shares of the company’s stock after selling 14,216 shares during the quarter. Simmons Bank’s holdings in Bank OZK were worth $927,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. AQR Capital Management LLC grew its holdings in Bank OZK by 291.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,371,892 shares of the company’s stock worth $95,848,000 after acquiring an additional 1,765,974 shares in the last quarter. Millennium Management LLC grew its stake in Bank OZK by 196.4% in the second quarter. Millennium Management LLC now owns 1,365,393 shares of the company’s stock worth $55,981,000 after purchasing an additional 904,782 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Bank OZK by 483.9% in the second quarter. Victory Capital Management Inc. now owns 980,358 shares of the company’s stock valued at $40,195,000 after buying an additional 812,464 shares during the last quarter. Berkley W R Corp bought a new stake in Bank OZK in the second quarter valued at about $24,600,000. Finally, D. E. Shaw & Co. Inc. raised its stake in Bank OZK by 115.0% during the second quarter. D. E. Shaw & Co. Inc. now owns 715,844 shares of the company’s stock valued at $29,350,000 after buying an additional 382,896 shares in the last quarter. Institutional investors and hedge funds own 86.18% of the company’s stock.

Bank OZK Trading Down 0.7 %

Bank OZK stock opened at $47.87 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $43.34 and a two-hundred day moving average price of $43.15. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of 7.87 and a beta of 1.16. Bank OZK has a 52-week low of $37.43 and a 52-week high of $52.36.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings data on Thursday, October 17th. The company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.02. The business had revenue of $423.00 million for the quarter, compared to analysts’ expectations of $419.08 million. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. Sell-side analysts expect that Bank OZK will post 6.03 earnings per share for the current year.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 11th were issued a $0.41 dividend. The ex-dividend date of this dividend was Friday, October 11th. This is a boost from Bank OZK’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 3.43%. Bank OZK’s dividend payout ratio (DPR) is 26.97%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on OZK shares. Raymond James downgraded Bank OZK from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 17th. StockNews.com upgraded shares of Bank OZK from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Morgan Stanley raised their price target on shares of Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Piper Sandler boosted their price objective on shares of Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Finally, Stephens increased their price objective on shares of Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Bank OZK currently has an average rating of “Hold” and a consensus price target of $48.50.

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.