Bank OZK (NASDAQ:OZK) Stock Position Lessened by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. trimmed its holdings in shares of Bank OZK (NASDAQ:OZK) by 34.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 669,074 shares of the company’s stock after selling 346,005 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Bank OZK were worth $29,794,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. M&T Bank Corp boosted its stake in Bank OZK by 1.9% during the 3rd quarter. M&T Bank Corp now owns 13,432 shares of the company’s stock valued at $578,000 after purchasing an additional 244 shares in the last quarter. Principal Securities Inc. lifted its holdings in shares of Bank OZK by 12.7% in the fourth quarter. Principal Securities Inc. now owns 2,509 shares of the company’s stock valued at $112,000 after buying an additional 283 shares during the period. Arizona State Retirement System boosted its stake in Bank OZK by 1.0% during the fourth quarter. Arizona State Retirement System now owns 31,253 shares of the company’s stock valued at $1,392,000 after buying an additional 305 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Bank OZK by 2.1% during the fourth quarter. Pacer Advisors Inc. now owns 15,733 shares of the company’s stock worth $701,000 after acquiring an additional 325 shares during the period. Finally, Savant Capital LLC grew its holdings in Bank OZK by 0.7% during the fourth quarter. Savant Capital LLC now owns 46,784 shares of the company’s stock worth $2,083,000 after acquiring an additional 327 shares during the period. 86.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

OZK has been the subject of a number of research analyst reports. Morgan Stanley cut their price target on shares of Bank OZK from $58.00 to $54.00 and set an “equal weight” rating for the company in a report on Thursday. Stephens increased their target price on shares of Bank OZK from $53.00 to $57.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Wells Fargo & Company upgraded shares of Bank OZK from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $40.00 to $48.00 in a research report on Tuesday, January 21st. Finally, UBS Group initiated coverage on Bank OZK in a report on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 price target on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Bank OZK has an average rating of “Hold” and an average target price of $50.38.

Bank OZK Trading Down 2.2 %

NASDAQ OZK opened at $42.94 on Friday. The firm’s 50 day moving average price is $48.10 and its two-hundred day moving average price is $45.87. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of 6.99 and a beta of 1.23. Bank OZK has a twelve month low of $37.43 and a twelve month high of $53.64. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.02 and a current ratio of 1.03.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings results on Thursday, January 16th. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.12. Bank OZK had a return on equity of 13.90% and a net margin of 25.83%. The firm had revenue of $412.34 million for the quarter, compared to analyst estimates of $407.19 million. During the same period in the previous year, the firm earned $1.50 earnings per share. Bank OZK’s quarterly revenue was up 1.2% on a year-over-year basis. Equities analysts anticipate that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 14th were given a $0.42 dividend. This is an increase from Bank OZK’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Tuesday, January 14th. This represents a $1.68 dividend on an annualized basis and a yield of 3.91%. Bank OZK’s dividend payout ratio is presently 27.36%.

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.