Corebridge Financial Inc. Lowers Stock Holdings in Bank OZK (NASDAQ:OZK)

Corebridge Financial Inc. reduced its holdings in Bank OZK (NASDAQ:OZK) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 119,388 shares of the company’s stock after selling 5,402 shares during the quarter. Corebridge Financial Inc. owned approximately 0.11% of Bank OZK worth $5,316,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of Bank OZK by 30.7% in the third quarter. Barclays PLC now owns 254,874 shares of the company’s stock worth $10,958,000 after acquiring an additional 59,907 shares during the last quarter. Geode Capital Management LLC raised its stake in Bank OZK by 6.7% during the third quarter. Geode Capital Management LLC now owns 2,022,979 shares of the company’s stock worth $86,989,000 after purchasing an additional 126,352 shares during the period. Verition Fund Management LLC boosted its holdings in shares of Bank OZK by 68.6% in the 3rd quarter. Verition Fund Management LLC now owns 34,869 shares of the company’s stock valued at $1,499,000 after purchasing an additional 14,189 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Bank OZK by 112.8% during the 3rd quarter. Cerity Partners LLC now owns 51,717 shares of the company’s stock valued at $2,223,000 after buying an additional 27,409 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Bank OZK by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 4,758 shares of the company’s stock worth $212,000 after buying an additional 606 shares during the last quarter. 86.18% of the stock is owned by institutional investors and hedge funds.

Bank OZK Stock Down 2.8 %

Shares of NASDAQ:OZK opened at $43.73 on Friday. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 7.12 and a beta of 1.23. The company has a 50 day moving average of $48.19 and a two-hundred day moving average of $46.09. Bank OZK has a 52-week low of $37.43 and a 52-week high of $53.64. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.16.

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

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Tuesday, January 14th were paid a $0.42 dividend. This is a boost from Bank OZK’s previous quarterly dividend of $0.41. The ex-dividend date was Tuesday, January 14th. This represents a $1.68 annualized dividend and a dividend yield of 3.84%. Bank OZK’s payout ratio is 27.36%.

Analyst Ratings Changes

OZK has been the subject of a number of research reports. Stephens boosted their price target on Bank OZK from $53.00 to $57.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. UBS Group initiated coverage on Bank OZK in a report on Tuesday, December 17th. They set a “neutral” rating and a $51.00 target price for the company. Morgan Stanley dropped their target price on shares of Bank OZK from $58.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Finally, Wells Fargo & Company raised shares of Bank OZK from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $40.00 to $48.00 in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $50.38.

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.