Edgestream Partners L.P. Trims Stock Position in Bank OZK (NASDAQ:OZK)

Edgestream Partners L.P. decreased its holdings in Bank OZK (NASDAQ:OZK) by 27.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,314 shares of the company’s stock after selling 26,167 shares during the quarter. Edgestream Partners L.P. owned 0.06% of Bank OZK worth $2,883,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Bank OZK by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 12,028,779 shares of the company’s stock worth $599,394,000 after acquiring an additional 502,005 shares during the last quarter. Van Berkom & Associates Inc. lifted its position in Bank OZK by 2.0% during the second quarter. Van Berkom & Associates Inc. now owns 2,024,130 shares of the company’s stock valued at $82,989,000 after purchasing an additional 40,356 shares in the last quarter. Wellington Management Group LLP grew its holdings in Bank OZK by 18.8% during the fourth quarter. Wellington Management Group LLP now owns 1,897,696 shares of the company’s stock valued at $94,562,000 after purchasing an additional 300,025 shares during the period. American Century Companies Inc. increased its position in Bank OZK by 21.9% in the second quarter. American Century Companies Inc. now owns 1,642,293 shares of the company’s stock worth $67,334,000 after buying an additional 295,298 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Bank OZK by 4.2% in the fourth quarter. First Trust Advisors LP now owns 1,279,876 shares of the company’s stock worth $63,776,000 after buying an additional 51,379 shares in the last quarter. 86.18% of the stock is currently owned by institutional investors.

Bank OZK Stock Performance

OZK opened at $42.61 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 7.14 and a beta of 1.17. The company has a fifty day moving average of $42.90 and a 200 day moving average of $43.16. Bank OZK has a fifty-two week low of $34.76 and a fifty-two week high of $52.36.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings data on Wednesday, July 17th. The company reported $1.52 EPS for the quarter, meeting the consensus estimate of $1.52. Bank OZK had a net margin of 27.04% and a return on equity of 14.50%. The business had revenue of $416.78 million during the quarter, compared to the consensus estimate of $414.39 million. During the same quarter in the prior year, the firm earned $1.47 EPS. The business’s revenue was up 7.2% on a year-over-year basis. As a group, sell-side analysts forecast that Bank OZK will post 6.01 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 12th were paid a $0.40 dividend. This is an increase from Bank OZK’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a yield of 3.75%. Bank OZK’s payout ratio is presently 26.80%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Raymond James downgraded Bank OZK from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Morgan Stanley upped their price target 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. Stephens restated an “equal weight” rating and set a $50.00 price objective on shares of Bank OZK in a research report on Thursday, July 18th. Truist Financial lifted their target price on shares of Bank OZK from $41.00 to $49.00 and gave the company a “hold” rating in a research note on Monday, July 22nd. Finally, Citigroup lowered Bank OZK from a “buy” rating to a “sell” rating and cut their price target for the stock from $57.00 to $37.00 in a research note on Wednesday, May 29th. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $46.71.

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.