California State Teachers Retirement System reduced its stake in Bank OZK (NASDAQ:OZK – Free Report) by 5.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 139,967 shares of the company’s stock after selling 7,964 shares during the period. California State Teachers Retirement System owned 0.11% of Bank OZK worth $4,787,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp grew its stake in shares of Bank OZK by 3.6% in the third quarter. State Street Corp now owns 12,694,232 shares of the company’s stock valued at $502,184,000 after acquiring an additional 442,288 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Bank OZK by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,927,355 shares of the company’s stock valued at $277,510,000 after acquiring an additional 230,108 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Bank OZK by 8.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,994,839 shares of the company’s stock valued at $119,973,000 after acquiring an additional 225,744 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Bank OZK by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 1,600,439 shares of the company’s stock valued at $64,113,000 after acquiring an additional 71,619 shares in the last quarter. Finally, Van Berkom & Associates Inc. grew its stake in shares of Bank OZK by 3.2% in the fourth quarter. Van Berkom & Associates Inc. now owns 1,519,157 shares of the company’s stock valued at $60,857,000 after acquiring an additional 47,795 shares in the last quarter. 82.55% of the stock is currently owned by institutional investors and hedge funds.
Bank OZK Stock Down 0.9 %
OZK stock opened at $39.78 on Tuesday. The stock has a market capitalization of $4.99 billion, a P/E ratio of 7.51 and a beta of 1.43. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.35. Bank OZK has a 12 month low of $30.72 and a 12 month high of $49.52. The firm has a 50-day moving average price of $41.32 and a 200-day moving average price of $39.16.
Bank OZK Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 21st. Shareholders of record on Friday, July 14th were issued a dividend of $0.36 per share. This is a positive change from Bank OZK’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $1.44 annualized dividend and a yield of 3.62%. Bank OZK’s dividend payout ratio (DPR) is presently 27.17%.
Analyst Ratings Changes
Several equities analysts recently commented on OZK shares. UBS Group upped their price target on shares of Bank OZK from $41.00 to $42.00 in a research note on Monday, April 24th. Morgan Stanley restated an “equal weight” rating and issued a $35.00 price target on shares of Bank OZK in a research note on Monday, July 24th. StockNews.com started coverage on shares of Bank OZK in a research note on Thursday, August 17th. They issued a “sell” rating on the stock. Stephens increased their price objective on shares of Bank OZK from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Monday, July 24th. Finally, Truist Financial increased their price objective on shares of Bank OZK from $43.00 to $46.00 and gave the stock a “hold” rating in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $40.50.
Bank OZK Company Profile
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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