Raymond James & Associates Reduces Holdings in Bank OZK (NASDAQ:OZK)

Posted by on May 15th, 2023

Raymond James & Associates lessened its position in shares of Bank OZK (NASDAQ:OZK – Get Rating) by 0.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 468,919 shares of the company’s stock after selling 899 shares during the period. Raymond James & Associates owned 0.37% of Bank OZK worth $18,785,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in OZK. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new stake in Bank OZK during the 4th quarter worth about $407,000. HB Wealth Management LLC boosted its position in shares of Bank OZK by 9.8% during the 4th quarter. HB Wealth Management LLC now owns 6,146 shares of the company’s stock valued at $246,000 after acquiring an additional 546 shares during the last quarter. Eaton Vance Management boosted its position in shares of Bank OZK by 0.9% during the 3rd quarter. Eaton Vance Management now owns 50,040 shares of the company’s stock valued at $1,980,000 after acquiring an additional 462 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in shares of Bank OZK during the 4th quarter valued at about $31,275,000. Finally, Boston Partners boosted its position in shares of Bank OZK by 1.6% during the 3rd quarter. Boston Partners now owns 30,277 shares of the company’s stock valued at $1,198,000 after acquiring an additional 476 shares during the last quarter. Hedge funds and other institutional investors own 76.17% of the company’s stock.

Bank OZK Stock Performance

NASDAQ OZK opened at $31.66 on Monday. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of 6.42 and a beta of 1.37. The company has a quick ratio of 1.00, a current ratio of 1.02 and a debt-to-equity ratio of 0.33. The business has a 50-day moving average price of $34.98 and a 200-day moving average price of $40.71. Bank OZK has a twelve month low of $30.72 and a twelve month high of $49.52.

Bank OZK (NASDAQ:OZK – Get Rating) last announced its quarterly earnings results on Friday, April 21st. The company reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.02). The firm had revenue of $375.30 million for the quarter, compared to the consensus estimate of $361.56 million. Bank OZK had a net margin of 38.48% and a return on equity of 13.95%. Bank OZK’s quarterly revenue was up 33.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.02 earnings per share. As a group, equities research analysts predict that Bank OZK will post 5.78 EPS for the current fiscal year.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 21st. Stockholders of record on Friday, April 14th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.42%. This is a positive change from Bank OZK’s previous quarterly dividend of $0.34. The ex-dividend date was Thursday, April 13th. Bank OZK’s dividend payout ratio (DPR) is presently 28.40%.

Analyst Ratings Changes

A number of equities analysts have commented on OZK shares. Keefe, Bruyette & Woods decreased their price target on Bank OZK from $40.00 to $35.00 and set a “market perform” rating on the stock in a research note on Thursday, April 6th. UBS Group boosted their target price on Bank OZK from $41.00 to $42.00 in a research note on Monday, April 24th. StockNews.com cut Bank OZK from a “hold” rating to a “sell” rating in a research note on Wednesday, April 12th. Wells Fargo & Company dropped their price target on Bank OZK from $45.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 5th. Finally, Morgan Stanley dropped their target price on Bank OZK from $51.00 to $37.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank OZK currently has an average rating of “Hold” and an average target price of $40.57.

Bank OZK Company Profile

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Bank OZK engages in the provision of community banking services. The firm offers deposit services such as checking, savings, money market, time deposit, and individual retirement accounts. It also provides loan services including types of real estate, consumer, commercial, industrial, and agricultural loans.

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Institutional Ownership by Quarter for Bank OZK (NASDAQ:OZK)

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