Massachusetts Financial Services Co. MA Sells 1,210 Shares of Bank OZK (NASDAQ:OZK)

Massachusetts Financial Services Co. MA reduced its stake in Bank OZK (NASDAQ:OZK) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,932 shares of the company’s stock after selling 1,210 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Bank OZK were worth $2,147,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of OZK. AQR Capital Management LLC raised its holdings in shares of Bank OZK by 291.5% in the second quarter. AQR Capital Management LLC now owns 2,371,892 shares of the company’s stock valued at $95,848,000 after acquiring an additional 1,765,974 shares in the last quarter. Van Berkom & Associates Inc. raised its holdings 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 purchasing an additional 40,356 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Bank OZK by 21.9% in the 2nd quarter. American Century Companies Inc. now owns 1,642,293 shares of the company’s stock worth $67,334,000 after purchasing an additional 295,298 shares during the period. Millennium Management LLC increased its holdings in Bank OZK by 196.4% during the second quarter. Millennium Management LLC now owns 1,365,393 shares of the company’s stock valued at $55,981,000 after buying an additional 904,782 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Bank OZK by 34.8% in the third quarter. Victory Capital Management Inc. now owns 1,321,436 shares of the company’s stock worth $56,809,000 after buying an additional 341,078 shares in the last quarter. 86.18% of the stock is owned by hedge funds and other institutional investors.

Bank OZK Trading Up 0.1 %

NASDAQ:OZK opened at $49.94 on Thursday. The company has a market capitalization of $5.67 billion, a P/E ratio of 8.21 and a beta of 1.16. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12. Bank OZK has a 12 month low of $37.43 and a 12 month high of $52.36. The firm has a fifty day simple moving average of $44.78 and a 200-day simple moving average of $43.25.

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

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 11th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend was Friday, October 11th. This is an increase from Bank OZK’s previous quarterly dividend of $0.40. Bank OZK’s dividend payout ratio is 26.97%.

Analysts Set New Price Targets

Several analysts have issued reports on OZK shares. Piper Sandler increased their target price on Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Truist Financial cut their target price on Bank OZK from $48.00 to $46.00 and set a “hold” rating on the stock in a research note on Monday, October 21st. Stephens boosted their target price on shares of Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Morgan Stanley raised their price target on shares of Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Finally, Raymond James lowered shares of Bank OZK from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $48.50.

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.