Naviter Wealth LLC Sells 10,000 Shares of Bank OZK (NASDAQ:OZK)

Naviter Wealth LLC lowered its position in Bank OZK (NASDAQ:OZK) by 19.4% in the 4th quarter, Holdings Channel reports. The fund owned 41,457 shares of the company’s stock after selling 10,000 shares during the quarter. Naviter Wealth LLC’s holdings in Bank OZK were worth $1,846,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in Bank OZK by 32.7% during the third quarter. Wellington Management Group LLP now owns 4,223,452 shares of the company’s stock worth $181,566,000 after acquiring an additional 1,041,198 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of Bank OZK by 124.6% during the third quarter. Captrust Financial Advisors now owns 1,698,856 shares of the company’s stock valued at $73,034,000 after purchasing an additional 942,309 shares during the last quarter. Senvest Management LLC bought a new stake in shares of Bank OZK in the 3rd quarter worth approximately $22,306,000. State Street Corp grew its stake in shares of Bank OZK by 7.3% in the 3rd quarter. State Street Corp now owns 7,106,907 shares of the company’s stock worth $305,526,000 after buying an additional 485,172 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Bank OZK by 34.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,321,436 shares of the company’s stock valued at $56,809,000 after buying an additional 341,078 shares in the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Bank OZK Price Performance

NASDAQ OZK opened at $45.56 on Friday. Bank OZK has a one year low of $37.43 and a one year high of $53.64. The stock has a 50-day moving average of $48.16 and a 200 day moving average of $45.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.02 and a current ratio of 1.03. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 7.42 and a beta of 1.23.

Bank OZK (NASDAQ:OZK) last issued its earnings results on Thursday, January 16th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.12. The company had revenue of $412.34 million for the quarter, compared to analysts’ expectations of $407.19 million. Bank OZK had a net margin of 25.83% and a return on equity of 13.90%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $1.50 earnings per share. On average, sell-side analysts forecast that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Tuesday, January 14th were issued a $0.42 dividend. The ex-dividend date was Tuesday, January 14th. This represents a $1.68 annualized dividend and a dividend yield of 3.69%. This is a positive change from Bank OZK’s previous quarterly dividend of $0.41. Bank OZK’s payout ratio is presently 27.36%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. UBS Group initiated coverage on Bank OZK in a report on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 target price on the stock. Wells Fargo & Company upgraded shares of Bank OZK from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $40.00 to $48.00 in a research note on Tuesday, January 21st. Finally, Stephens increased their price objective on shares of Bank OZK from $53.00 to $57.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $50.00.

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.