Paragon Capital Management Ltd Sells 868 Shares of Bank OZK (NASDAQ:OZK)

Paragon Capital Management Ltd lowered its stake in shares of Bank OZK (NASDAQ:OZK) by 14.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,979 shares of the company’s stock after selling 868 shares during the quarter. Paragon Capital Management Ltd’s holdings in Bank OZK were worth $214,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. increased 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 purchasing an additional 502,005 shares during the period. AQR Capital Management LLC increased its holdings in Bank OZK by 291.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,371,892 shares of the company’s stock valued at $95,848,000 after buying an additional 1,765,974 shares during the period. Van Berkom & Associates Inc. raised its stake in shares of Bank OZK by 2.0% in the 2nd quarter. Van Berkom & Associates Inc. now owns 2,024,130 shares of the company’s stock valued at $82,989,000 after buying an additional 40,356 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Bank OZK by 18.8% during the 4th quarter. Wellington Management Group LLP now owns 1,897,696 shares of the company’s stock worth $94,562,000 after acquiring an additional 300,025 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Bank OZK by 21.9% during the 2nd quarter. American Century Companies Inc. now owns 1,642,293 shares of the company’s stock valued at $67,334,000 after acquiring an additional 295,298 shares in the last quarter. 86.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on OZK shares. Raymond James lowered shares of Bank OZK from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. Morgan Stanley increased their target price 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 reaffirmed an “equal weight” rating and issued a $50.00 price target on shares of Bank OZK in a research note on Thursday, July 18th. Truist Financial dropped their price objective on Bank OZK from $49.00 to $48.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Finally, StockNews.com upgraded shares of Bank OZK from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $46.57.

Bank OZK Stock Performance

Bank OZK stock opened at $43.66 on Friday. The stock has a 50-day simple moving average of $41.78 and a 200 day simple moving average of $43.02. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 7.25 and a beta of 1.17. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.17. Bank OZK has a 12-month low of $34.76 and a 12-month high of $52.36.

Bank OZK (NASDAQ:OZK) last announced its earnings results on Wednesday, July 17th. The company reported $1.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.52. The company had revenue of $416.78 million during the quarter, compared to the consensus estimate of $414.39 million. Bank OZK had a net margin of 27.04% and a return on equity of 14.50%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.47 earnings per share. On average, research analysts anticipate that Bank OZK will post 6 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, October 11th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.76%. This is an increase from Bank OZK’s previous quarterly dividend of $0.40. Bank OZK’s payout ratio is presently 26.58%.

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.