Sanctuary Advisors LLC Sells 7,943 Shares of Bank OZK (NASDAQ:OZK)

Sanctuary Advisors LLC trimmed its position in Bank OZK (NASDAQ:OZK) by 25.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,558 shares of the company’s stock after selling 7,943 shares during the period. Sanctuary Advisors LLC’s holdings in Bank OZK were worth $1,013,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in OZK. Rule One Partners LLC acquired a new stake in Bank OZK in the third quarter valued at approximately $1,720,000. Geode Capital Management LLC lifted its holdings in shares of Bank OZK by 6.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,022,979 shares of the company’s stock worth $86,989,000 after purchasing an additional 126,352 shares in the last quarter. Greenwood Gearhart Inc. grew its position in Bank OZK by 4.7% in the 3rd quarter. Greenwood Gearhart Inc. now owns 30,036 shares of the company’s stock valued at $1,291,000 after purchasing an additional 1,360 shares during the period. M&T Bank Corp grew its position in Bank OZK by 1.9% in the 3rd quarter. M&T Bank Corp now owns 13,432 shares of the company’s stock valued at $578,000 after purchasing an additional 244 shares during the period. Finally, Barclays PLC increased its stake in Bank OZK by 30.7% during the 3rd quarter. Barclays PLC now owns 254,874 shares of the company’s stock valued at $10,958,000 after purchasing an additional 59,907 shares in the last quarter. 86.18% of the stock is owned by institutional investors.

Bank OZK Price Performance

Shares of NASDAQ:OZK opened at $43.83 on Friday. The company has a market capitalization of $4.97 billion, a P/E ratio of 7.21 and a beta of 1.18. The company’s 50-day moving average is $46.60 and its 200 day moving average is $43.48. 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 has a fifty-two week low of $37.43 and a fifty-two week high of $51.50.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings data on Thursday, October 17th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.53 by $0.02. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. The business had revenue of $423.00 million for the quarter, compared to analyst estimates of $419.08 million. On average, equities research analysts forecast that Bank OZK will post 6.03 earnings per share for the current year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 11th were given a $0.41 dividend. This is an increase from Bank OZK’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend was Friday, October 11th. Bank OZK’s dividend payout ratio (DPR) is currently 26.97%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on OZK shares. Piper Sandler lifted their price objective on shares of Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Truist Financial cut their price target on Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company in a research note on Monday, October 21st. Raymond James lowered Bank OZK from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 17th. Wells Fargo & Company upped their price target on Bank OZK from $35.00 to $40.00 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. Finally, UBS Group initiated coverage on Bank OZK in a research note on Tuesday, December 17th. They set a “neutral” rating and a $51.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Bank OZK has a consensus rating of “Hold” and an average price target of $49.33.

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.