Legal & General Group Plc cut its position in Bank OZK (NASDAQ:OZK – Free Report) by 8.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 154,290 shares of the company’s stock after selling 14,172 shares during the quarter. Legal & General Group Plc owned 0.14% of Bank OZK worth $7,100,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in OZK. Wasatch Advisors LP increased its position in Bank OZK by 34.9% during the 3rd quarter. Wasatch Advisors LP now owns 7,437,646 shares of the company’s stock worth $379,171,000 after purchasing an additional 1,924,387 shares in the last quarter. Fairholme Capital Management LLC increased its position in Bank OZK by 45.1% during the 2nd quarter. Fairholme Capital Management LLC now owns 916,752 shares of the company’s stock worth $43,142,000 after purchasing an additional 285,150 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in Bank OZK during the 3rd quarter worth approximately $13,014,000. Mackenzie Financial Corp increased its position in Bank OZK by 39.2% during the 3rd quarter. Mackenzie Financial Corp now owns 788,819 shares of the company’s stock worth $40,214,000 after purchasing an additional 222,157 shares in the last quarter. Finally, Balyasny Asset Management L.P. increased its position in Bank OZK by 36.7% during the 2nd quarter. Balyasny Asset Management L.P. now owns 793,797 shares of the company’s stock worth $37,356,000 after purchasing an additional 213,101 shares in the last quarter. 86.18% of the stock is currently owned by institutional investors and hedge funds.
Bank OZK Trading Up 0.8%
OZK opened at $49.60 on Friday. Bank OZK has a fifty-two week low of $42.37 and a fifty-two week high of $53.66. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of 8.08 and a beta of 0.90. The company’s 50 day moving average price is $47.67 and its two-hundred day moving average price is $47.24.
Bank OZK Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, April 20th. Shareholders of record on Monday, April 13th were issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Monday, April 13th. Bank OZK’s payout ratio is presently 30.62%.
Wall Street Analyst Weigh In
OZK has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective on shares of Bank OZK from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, March 30th. UBS Group initiated coverage on shares of Bank OZK in a research report on Tuesday, April 7th. They set a “neutral” rating and a $48.00 price objective for the company. Weiss Ratings cut shares of Bank OZK from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday. Wall Street Zen upgraded shares of Bank OZK from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Morgan Stanley upped their price objective on shares of Bank OZK from $57.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $56.89.
View Our Latest Stock Report on Bank OZK
About Bank OZK
Bank OZK, formerly known as Bank of the Ozarks, is a regional commercial bank headquartered in Little Rock, Arkansas. Established in 1903, the bank offers a full suite of banking products and services to both individual and corporate clients. Through a combination of organic growth and targeted acquisitions, Bank OZK has built a diversified lending portfolio and a strong deposit franchise.
The bank’s core operations focus on commercial real estate lending, including acquisition, development and construction financing.
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