State of New Jersey Common Pension Fund D Lowers Stake in Bank OZK (NASDAQ:OZK)

State of New Jersey Common Pension Fund D reduced its position in Bank OZK (NASDAQ:OZK) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,778 shares of the company’s stock after selling 2,373 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Bank OZK were worth $1,949,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Bank OZK in the 4th quarter worth approximately $27,000. Assetmark Inc. grew its holdings 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 purchasing an additional 411 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in Bank OZK by 81.3% in the 4th quarter. V Square Quantitative Management LLC now owns 948 shares of the company’s stock worth $42,000 after buying an additional 425 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Bank OZK during the third quarter valued at about $61,000. Finally, Venturi Wealth Management LLC increased its position in shares of Bank OZK by 424.8% during the third quarter. Venturi Wealth Management LLC now owns 1,590 shares of the company’s stock worth $68,000 after acquiring an additional 1,287 shares during the last quarter. 86.18% of the stock is owned by institutional investors and hedge funds.

Bank OZK Stock Down 0.5 %

OZK stock opened at $47.20 on Tuesday. The company has a 50 day moving average of $47.77 and a two-hundred day moving average of $45.53. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 7.69 and a beta of 1.20. Bank OZK has a 12-month low of $37.43 and a 12-month 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 posted its earnings results on Thursday, January 16th. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.12. The firm had revenue of $412.34 million during the quarter, compared to analysts’ expectations of $407.19 million. Bank OZK had a net margin of 25.83% and a return on equity of 13.90%. During the same period in the previous year, the company earned $1.50 earnings per share. The company’s revenue was up 1.2% compared to the same quarter last year. On average, equities analysts anticipate that Bank OZK will post 6.02 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 14th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.56%. The ex-dividend date was Tuesday, January 14th. This is an increase from Bank OZK’s previous quarterly dividend of $0.41. Bank OZK’s dividend payout ratio (DPR) is 27.36%.

Wall Street Analyst Weigh In

OZK has been the topic of several recent analyst reports. UBS Group began coverage on shares of Bank OZK in a report on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 price target on the stock. Wells Fargo & Company raised Bank OZK from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $40.00 to $48.00 in a research report on Tuesday, January 21st. Finally, Stephens lifted their price objective on shares of Bank OZK from $53.00 to $57.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $50.00.

About Bank OZK

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.