DekaBank Deutsche Girozentrale Reduces Holdings in Bank OZK (NASDAQ:OZK)

DekaBank Deutsche Girozentrale decreased its position in shares of Bank OZK (NASDAQ:OZK) by 48.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,661 shares of the company’s stock after selling 7,077 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Bank OZK were worth $305,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in shares of Bank OZK during the 4th quarter worth about $56,293,000. Victory Capital Management Inc. boosted its position in shares of Bank OZK by 483.9% during the second quarter. Victory Capital Management Inc. now owns 980,358 shares of the company’s stock valued at $40,195,000 after buying an additional 812,464 shares during the period. Vanguard Group Inc. boosted its position in shares of Bank OZK by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 12,028,779 shares of the company’s stock valued at $599,394,000 after buying an additional 502,005 shares during the period. Wellington Management Group LLP grew its stake in shares of 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 buying an additional 300,025 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of 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 during the period. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Bank OZK Trading Down 2.8 %

NASDAQ:OZK opened at $42.76 on Friday. 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 firm has a 50-day simple moving average of $42.90 and a 200-day simple moving average of $43.17. Bank OZK has a one year low of $34.76 and a one year high of $52.36. The firm has a market cap of $4.85 billion, a P/E ratio of 7.16 and a beta of 1.17.

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

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 12th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.74%. This is a positive change from Bank OZK’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, July 12th. Bank OZK’s dividend payout ratio is presently 26.80%.

Analyst Upgrades and Downgrades

Several brokerages have commented on OZK. Citigroup downgraded Bank OZK from a “buy” rating to a “sell” rating and cut their price objective for the company from $57.00 to $37.00 in a research report on Wednesday, May 29th. Stephens restated an “equal weight” rating and issued a $50.00 price target on shares of Bank OZK in a report on Thursday, July 18th. Wells Fargo & Company decreased their price objective on shares of Bank OZK from $39.00 to $35.00 and set an “underweight” rating for the company in a report on Thursday, June 6th. Raymond James downgraded shares of Bank OZK from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Finally, Morgan Stanley lifted their price target on shares of Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $46.57.

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.