Massachusetts Financial Services Co. MA Trims Stake in Bank OZK (NASDAQ:OZK)

Massachusetts Financial Services Co. MA cut its stake in shares of Bank OZK (NASDAQ:OZK) by 2.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,932 shares of the company’s stock after selling 1,210 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Bank OZK were worth $2,147,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of OZK. Price T Rowe Associates Inc. MD boosted its position in shares of Bank OZK by 5.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 62,444 shares of the company’s stock worth $2,839,000 after purchasing an additional 3,301 shares during the period. Tidal Investments LLC raised its holdings in Bank OZK by 4.0% during the first quarter. Tidal Investments LLC now owns 5,491 shares of the company’s stock valued at $250,000 after acquiring an additional 210 shares during the period. Pathway Financial Advisers LLC purchased a new position in shares of Bank OZK in the first quarter valued at about $60,000. Versant Capital Management Inc boosted its stake in shares of Bank OZK by 423.0% in the second quarter. Versant Capital Management Inc now owns 978 shares of the company’s stock worth $40,000 after acquiring an additional 791 shares during the period. Finally, CWM LLC grew its position in shares of Bank OZK by 2,027.9% during the second quarter. CWM LLC now owns 9,746 shares of the company’s stock worth $400,000 after purchasing an additional 9,288 shares in the last quarter. Institutional investors own 86.18% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Bank OZK Trading Up 0.1 %

Shares of NASDAQ OZK opened at $49.94 on Thursday. Bank OZK has a 1-year low of $37.43 and a 1-year high of $52.36. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. The business’s 50 day moving average is $44.78 and its two-hundred day moving average is $43.25. The stock has a market capitalization of $5.67 billion, a P/E ratio of 8.21 and a beta of 1.16.

Bank OZK (NASDAQ:OZK) last released its earnings results on Thursday, October 17th. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.02. The firm had revenue of $423.00 million for the quarter, compared to the consensus estimate of $419.08 million. Bank OZK had a return on equity of 14.15% and a net margin of 26.07%. As a group, research 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 $0.41 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.64 annualized dividend and a dividend yield of 3.28%. This is an increase from Bank OZK’s previous quarterly dividend of $0.40. Bank OZK’s dividend payout ratio is currently 26.97%.

Bank OZK 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.