VIRGINIA RETIREMENT SYSTEMS ET Al Sells 14,400 Shares of Bank OZK $OZK

VIRGINIA RETIREMENT SYSTEMS ET Al cut its stake in Bank OZK (NASDAQ:OZK) by 7.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,534 shares of the company’s stock after selling 14,400 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.16% of Bank OZK worth $8,114,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Choreo LLC grew its holdings in shares of Bank OZK by 12.5% during the 3rd quarter. Choreo LLC now owns 10,438 shares of the company’s stock worth $480,000 after purchasing an additional 1,162 shares in the last quarter. D.A. Davidson & CO. raised its stake in Bank OZK by 12.7% in the third quarter. D.A. Davidson & CO. now owns 6,989 shares of the company’s stock valued at $321,000 after purchasing an additional 786 shares in the last quarter. Park Avenue Securities LLC raised its stake in Bank OZK by 3.0% in the third quarter. Park Avenue Securities LLC now owns 12,181 shares of the company’s stock valued at $560,000 after purchasing an additional 355 shares in the last quarter. Groesbeck Investment Management Corp NJ raised its stake in Bank OZK by 4.1% in the third quarter. Groesbeck Investment Management Corp NJ now owns 10,607 shares of the company’s stock valued at $487,000 after purchasing an additional 418 shares in the last quarter. Finally, Sowell Financial Services LLC raised its stake in Bank OZK by 4.3% in the third quarter. Sowell Financial Services LLC now owns 43,554 shares of the company’s stock valued at $2,002,000 after purchasing an additional 1,786 shares in the last quarter. 86.18% of the stock is owned by institutional investors and hedge funds.

Bank OZK Stock Down 1.3%

Shares of NASDAQ OZK opened at $50.65 on Friday. The company has a market cap of $5.67 billion, a price-to-earnings ratio of 8.50 and a beta of 0.92. The company has a current ratio of 0.98, a quick ratio of 0.97 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average price of $47.84 and a two-hundred day moving average price of $48.47. Bank OZK has a 12 month low of $42.37 and a 12 month high of $53.39.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.43 by $0.07. Bank OZK had a net margin of 24.70% and a return on equity of 11.56%. The business had revenue of $391.48 million during the quarter, compared to the consensus estimate of $434.83 million. During the same quarter in the prior year, the firm earned $1.59 EPS. As a group, analysts forecast that Bank OZK will post 5.91 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, October 20th. Stockholders of record on Tuesday, October 13th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.9%. This is a boost from Bank OZK’s previous quarterly dividend of $0.48. The ex-dividend date was Tuesday, October 13th. Bank OZK’s dividend payout ratio (DPR) is currently 32.89%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OZK. Zacks Research upgraded shares of Bank OZK from a “strong sell” rating to a “hold” rating in a research report on Friday, September 25th. Morgan Stanley increased their price target on shares of Bank OZK from $56.00 to $57.00 and gave the stock an “underweight” rating in a research report on Monday, September 28th. Piper Sandler reissued an “overweight” rating and issued a $61.00 price objective on shares of Bank OZK in a research note on Wednesday, July 22nd. Citigroup restated a “sell” rating on shares of Bank OZK in a research report on Tuesday, October 6th. Finally, Wells Fargo & Company cut their target price on Bank OZK from $56.00 to $51.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 29th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Bank OZK currently has a consensus rating of “Hold” and a consensus price target of $55.14.

Bank OZK Company Profile

Bank OZK (NASDAQ:OZK) is a regional financial institution headquartered in Little Rock, Arkansas. The company provides banking services to individuals, businesses and institutions, including deposit accounts, commercial and consumer loans, mortgage lending, treasury management and online and mobile banking.

Bank OZK also operates specialized lending businesses, including its Real Estate Specialties Group, which provides financing for commercial real estate development and other complex real estate projects.