Kovitz Investment Group Partners LLC Cuts Position in Bank OZK (NASDAQ:OZK)

Kovitz Investment Group Partners LLC trimmed its position in shares of Bank OZK (NASDAQ:OZK) by 1.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,104 shares of the company’s stock after selling 1,911 shares during the period. Kovitz Investment Group Partners LLC owned approximately 0.09% of Bank OZK worth $4,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tidal Investments LLC raised its position in shares of Bank OZK by 4.0% during the 1st quarter. Tidal Investments LLC now owns 5,491 shares of the company’s stock valued at $250,000 after buying an additional 210 shares in the last quarter. CWM LLC increased its stake in Bank OZK by 2,027.9% during the second quarter. CWM LLC now owns 9,746 shares of the company’s stock worth $400,000 after acquiring an additional 9,288 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Bank OZK during the second quarter valued at approximately $873,000. M&G Plc lifted its stake in shares of Bank OZK by 12.4% in the 2nd quarter. M&G Plc now owns 210,801 shares of the company’s stock valued at $8,643,000 after purchasing an additional 23,309 shares during the last quarter. Finally, Naples Global Advisors LLC lifted its stake in shares of Bank OZK by 2.5% in the 2nd quarter. Naples Global Advisors LLC now owns 16,550 shares of the company’s stock valued at $679,000 after purchasing an additional 400 shares during the last quarter. 86.18% of the stock is currently owned by institutional investors.

Bank OZK Stock Performance

Shares of NASDAQ:OZK opened at $47.49 on Monday. The firm’s 50 day simple moving average is $45.82 and its 200-day simple moving average is $43.28. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. Bank OZK has a one year low of $37.43 and a one year high of $52.36. The firm has a market cap of $5.39 billion, a PE ratio of 7.81 and a beta of 1.18.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings data on Thursday, October 17th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.53 by $0.02. The company had revenue of $423.00 million for the quarter, compared to the consensus estimate of $419.08 million. Bank OZK had a return on equity of 14.15% and a net margin of 26.07%. As a group, equities analysts predict that Bank OZK will post 6.03 EPS for the current year.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 11th were issued a $0.41 dividend. This is an increase from Bank OZK’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 3.45%. The ex-dividend date was Friday, October 11th. Bank OZK’s payout ratio is presently 26.97%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Truist Financial decreased their price target on Bank OZK from $48.00 to $46.00 and set a “hold” rating on the stock in a report on Monday, October 21st. Raymond James downgraded shares of Bank OZK from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. Wells Fargo & Company lifted their price target on shares of Bank OZK from $35.00 to $40.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 3rd. Stephens upped their price target on shares of Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Finally, Piper Sandler raised their price objective on shares of Bank OZK from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $49.13.

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.