Ontario Teachers Pension Plan Board Sells 2,809 Shares of Bank OZK (NASDAQ:OZK)

Ontario Teachers Pension Plan Board reduced its position in Bank OZK (NASDAQ:OZK) by 17.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,108 shares of the company’s stock after selling 2,809 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Bank OZK were worth $564,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. LRI Investments LLC acquired a new stake in Bank OZK in the first quarter valued at approximately $29,000. PSI Advisors LLC grew its stake in Bank OZK by 20,933.3% during the 2nd quarter. PSI Advisors LLC now owns 631 shares of the company’s stock worth $26,000 after buying an additional 628 shares during the last quarter. Assetmark Inc. increased its position in Bank OZK by 73.8% during the 3rd quarter. Assetmark Inc. now owns 968 shares of the company’s stock valued at $42,000 after buying an additional 411 shares in the last quarter. Versant Capital Management Inc raised its stake in Bank OZK by 423.0% in the second quarter. Versant Capital Management Inc now owns 978 shares of the company’s stock valued at $40,000 after buying an additional 791 shares during the last quarter. Finally, American National Bank & Trust acquired a new stake in Bank OZK in the third quarter worth about $44,000. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on OZK shares. Piper Sandler upped their price objective on shares of Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Stephens lifted their price objective on shares of Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Truist Financial cut their target price on Bank OZK from $48.00 to $46.00 and set a “hold” rating on the stock in a research report on Monday, October 21st. Morgan Stanley lifted their price target on Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Finally, Raymond James lowered Bank OZK from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $48.50.

Bank OZK Stock Up 1.4 %

Shares of OZK stock opened at $48.35 on Friday. Bank OZK has a twelve month low of $37.43 and a twelve month high of $52.36. The stock has a market cap of $5.49 billion, a P/E ratio of 7.98 and a beta of 1.16. The stock has a 50 day moving average of $44.13 and a 200 day moving average of $43.23. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12.

Bank OZK (NASDAQ:OZK) last posted its earnings results on Thursday, October 17th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.02. The firm had revenue of $423.00 million during the quarter, compared to analysts’ expectations of $419.08 million. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. As a group, sell-side analysts expect that Bank OZK will post 6.03 EPS for the current year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 11th were paid a dividend of $0.41 per share. This is a positive change from Bank OZK’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Friday, October 11th. Bank OZK’s dividend payout ratio is presently 26.97%.

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.