Retirement Systems of Alabama Sells 2,022 Shares of Bank OZK (NASDAQ:OZK)

Retirement Systems of Alabama lessened its holdings in Bank OZK (NASDAQ:OZK) by 1.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 128,184 shares of the company’s stock after selling 2,022 shares during the quarter. Retirement Systems of Alabama’s holdings in Bank OZK were worth $5,511,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. PSI Advisors LLC increased its holdings in shares of Bank OZK by 20,933.3% in the second quarter. PSI Advisors LLC now owns 631 shares of the company’s stock worth $26,000 after buying an additional 628 shares during the period. Assetmark Inc. boosted its stake in shares of Bank OZK by 73.8% during the third quarter. Assetmark Inc. now owns 968 shares of the company’s stock valued at $42,000 after purchasing an additional 411 shares during the period. American National Bank & Trust bought a new position in shares of Bank OZK in the third quarter worth approximately $44,000. Innealta Capital LLC bought a new stake in Bank OZK during the 2nd quarter valued at $46,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in Bank OZK during the 2nd quarter valued at $49,000. 86.18% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Bank OZK from $35.00 to $40.00 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Raymond James downgraded Bank OZK from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 17th. UBS Group initiated coverage on shares of Bank OZK in a research report on Tuesday. They set a “neutral” rating and a $51.00 price objective on the stock. Stephens raised their target price 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, October 21st. Finally, Truist Financial reduced their price target on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating on the stock in a research report on Monday, October 21st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $49.33.

Bank OZK Trading Down 5.7 %

NASDAQ:OZK opened at $43.79 on Thursday. Bank OZK has a one year low of $37.43 and a one year high of $51.50. The company’s 50-day simple moving average is $46.58 and its 200 day simple moving average is $43.43. The firm has a market capitalization of $4.97 billion, a P/E ratio of 7.20 and a beta of 1.18. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings results on Thursday, October 17th. The company reported $1.55 earnings per share 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, analysts forecast that Bank OZK will post 6.03 EPS for the current fiscal year.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 11th were issued a dividend of $0.41 per share. This is a boost from Bank OZK’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.75%. Bank OZK’s dividend payout ratio is presently 26.97%.

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.