Retirement Systems of Alabama Decreases Holdings in Bank OZK (NASDAQ:OZK)

Retirement Systems of Alabama reduced its stake in Bank OZK (NASDAQ:OZK) by 1.6% during the third quarter, according to its most recent filing with the SEC. The fund owned 128,184 shares of the company’s stock after selling 2,022 shares during the quarter. Retirement Systems of Alabama owned 0.11% of Bank OZK worth $5,511,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. PSI Advisors LLC boosted its stake in Bank OZK by 20,933.3% in the second quarter. PSI Advisors LLC now owns 631 shares of the company’s stock valued at $26,000 after acquiring an additional 628 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Bank OZK by 73.8% in the 3rd quarter. Assetmark Inc. now owns 968 shares of the company’s stock worth $42,000 after purchasing an additional 411 shares during the period. American National Bank & Trust purchased a new position in Bank OZK in the third quarter valued at approximately $44,000. Innealta Capital LLC bought a new position in Bank OZK during the second quarter valued at $46,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in Bank OZK in the second quarter worth $49,000. Institutional investors own 86.18% of the company’s stock.

Bank OZK Price Performance

NASDAQ:OZK opened at $43.79 on Thursday. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 7.20 and a beta of 1.18. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a fifty day moving average of $46.58 and a 200 day moving average of $43.43. Bank OZK has a 52-week low of $37.43 and a 52-week high of $51.50.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings data 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. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. The company had revenue of $423.00 million for the quarter, compared to analysts’ expectations of $419.08 million. On average, research analysts expect that Bank OZK will post 6.03 EPS 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 3.75%. The ex-dividend date of this dividend 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%.

Analysts Set New Price Targets

A number of research analysts have recently commented on OZK shares. Truist Financial dropped their price target on Bank OZK from $48.00 to $46.00 and set a “hold” rating on the stock in a research report on Monday, October 21st. Piper Sandler upped 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. Raymond James downgraded shares of Bank OZK from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. Stephens upped 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, October 21st. Finally, Wells Fargo & Company lifted their price objective on shares of Bank OZK from $35.00 to $40.00 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $49.33.

Bank OZK Company 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.