Weybosset Research & Management LLC Reduces Holdings in Bank OZK (NASDAQ:OZK)

Weybosset Research & Management LLC cut its stake in Bank OZK (NASDAQ:OZK) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 245,069 shares of the company’s stock after selling 2,067 shares during the period. Bank OZK comprises approximately 3.7% of Weybosset Research & Management LLC’s portfolio, making the stock its 13th largest position. Weybosset Research & Management LLC owned approximately 0.22% of Bank OZK worth $10,913,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Assetmark Inc. raised its position in Bank OZK by 73.8% in the 3rd quarter. Assetmark Inc. now owns 968 shares of the company’s stock valued at $42,000 after purchasing an additional 411 shares during the last quarter. American National Bank & Trust purchased a new stake in shares of Bank OZK in the third quarter valued at about $44,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Bank OZK during the second quarter worth about $49,000. Capital Performance Advisors LLP acquired a new position in Bank OZK in the 3rd quarter valued at about $61,000. Finally, Venturi Wealth Management LLC increased its holdings in shares of Bank OZK by 424.8% in the third quarter. Venturi Wealth Management LLC now owns 1,590 shares of the company’s stock valued at $68,000 after purchasing an additional 1,287 shares during the period. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. UBS Group assumed coverage on shares of Bank OZK in a report on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 price target for the company. Truist Financial reduced their price target on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company in a research report on Monday, October 21st. Piper Sandler upped their price target on Bank OZK from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Raymond James cut Bank OZK from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. Finally, 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 research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Bank OZK currently has a consensus rating of “Hold” and an average price target of $48.25.

Bank OZK Stock Performance

Shares of NASDAQ OZK traded down $1.47 during midday trading on Friday, hitting $41.77. The company’s stock had a trading volume of 360,533 shares, compared to its average volume of 1,090,076. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. The firm’s fifty day moving average price is $46.55 and its 200-day moving average price is $43.99. Bank OZK has a 1-year low of $37.43 and a 1-year high of $51.50. The firm has a market cap of $4.74 billion, a P/E ratio of 6.87 and a beta of 1.20.

Bank OZK (NASDAQ:OZK) last announced its quarterly 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 company had revenue of $423.00 million during the quarter, compared to the consensus estimate of $419.08 million. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. On average, sell-side analysts forecast that Bank OZK will post 6.03 EPS for the current fiscal year.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 14th will be paid a dividend of $0.42 per share. This is a positive change from Bank OZK’s previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Tuesday, January 14th. Bank OZK’s dividend payout ratio (DPR) is presently 27.63%.

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.