Naviter Wealth LLC Lowers Holdings in Bank OZK (NASDAQ:OZK)

Naviter Wealth LLC trimmed its position in Bank OZK (NASDAQ:OZK) by 17.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,265 shares of the company’s stock after selling 7,240 shares during the period. Naviter Wealth LLC’s holdings in Bank OZK were worth $1,707,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of OZK. MCF Advisors LLC purchased a new stake in shares of Bank OZK during the 4th quarter worth $73,000. Fifth Third Bancorp boosted its position in shares of Bank OZK by 25.5% in the 3rd quarter. Fifth Third Bancorp now owns 1,487 shares of the company’s stock worth $55,000 after buying an additional 302 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Bank OZK in the 4th quarter worth about $220,000. Vest Financial LLC purchased a new stake in shares of Bank OZK in the 4th quarter worth about $235,000. Finally, Foster & Motley Inc. acquired a new position in Bank OZK in the 4th quarter valued at about $238,000. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OZK. StockNews.com downgraded shares of Bank OZK from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Keefe, Bruyette & Woods upped their price objective on shares of Bank OZK from $45.00 to $47.00 and gave the company a “market perform” rating in a research note on Monday, April 22nd. UBS Group downgraded shares of Bank OZK from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. Truist Financial dropped their price objective on shares of Bank OZK from $48.00 to $47.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. Finally, Citigroup dropped their price objective on shares of Bank OZK from $62.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $49.14.

Bank OZK Stock Performance

NASDAQ OZK traded down $0.12 during trading hours on Monday, hitting $45.90. The company had a trading volume of 373,403 shares, compared to its average volume of 1,191,546. Bank OZK has a fifty-two week low of $30.72 and a fifty-two week high of $52.36. The company has a quick ratio of 1.03, a current ratio of 1.01 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $43.75 and a 200-day simple moving average of $43.64. The firm has a market cap of $5.19 billion, a P/E ratio of 7.71 and a beta of 1.27.

Bank OZK (NASDAQ:OZK) last issued its earnings results on Thursday, April 18th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.07. Bank OZK had a return on equity of 14.84% and a net margin of 28.54%. The firm had revenue of $406.02 million for the quarter, compared to analyst estimates of $396.81 million. During the same period last year, the company earned $1.41 earnings per share. Equities analysts predict that Bank OZK will post 6.04 EPS for the current year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 12th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.40%. This is a positive change from Bank OZK’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, April 11th. Bank OZK’s dividend payout ratio (DPR) is 26.13%.

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.