Commerce Bank Sells 435 Shares of Bank OZK (NASDAQ:OZK)

Commerce Bank trimmed its position in Bank OZK (NASDAQ:OZK) by 1.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,124 shares of the company’s stock after selling 435 shares during the period. Commerce Bank’s holdings in Bank OZK were worth $994,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co increased its holdings in Bank OZK by 0.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 82,134 shares of the company’s stock worth $3,733,000 after purchasing an additional 409 shares in the last quarter. Quadrature Capital Ltd increased its holdings in Bank OZK by 62.6% during the 1st quarter. Quadrature Capital Ltd now owns 13,321 shares of the company’s stock worth $605,000 after purchasing an additional 5,128 shares in the last quarter. LRI Investments LLC bought a new stake in Bank OZK during the 1st quarter worth approximately $29,000. Price T Rowe Associates Inc. MD increased its holdings in Bank OZK by 5.6% during the 1st 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 in the last quarter. Finally, Caxton Associates LP increased its holdings in Bank OZK by 33.8% during the 1st quarter. Caxton Associates LP now owns 44,690 shares of the company’s stock worth $2,032,000 after purchasing an additional 11,281 shares in the last quarter. 86.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Bank OZK Trading Up 2.0 %

Bank OZK stock opened at $49.33 on Monday. The stock has a market cap of $5.60 billion, a P/E ratio of 8.11 and a beta of 1.16. Bank OZK has a fifty-two week low of $37.43 and a fifty-two week high of $52.36. The firm’s fifty day moving average price is $44.45 and its 200-day moving average price is $43.25. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings results on Thursday, October 17th. The company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.02. The firm had revenue of $423.00 million for the quarter, compared to analysts’ expectations of $419.08 million. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. Equities research analysts forecast that Bank OZK will post 6.03 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 11th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date was Friday, October 11th. This is a boost 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.