Copeland Capital Management LLC Sells 1,728 Shares of Bank OZK $OZK

Copeland Capital Management LLC trimmed its position in shares of Bank OZK (NASDAQ:OZK) by 55.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,413 shares of the company’s stock after selling 1,728 shares during the period. Copeland Capital Management LLC’s holdings in Bank OZK were worth $67,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. National Bank of Canada FI raised its position in shares of Bank OZK by 12.8% during the 1st quarter. National Bank of Canada FI now owns 1,960 shares of the company’s stock valued at $85,000 after purchasing an additional 223 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Bank OZK by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 29,600 shares of the company’s stock valued at $1,286,000 after purchasing an additional 300 shares during the period. BTC Capital Management Inc. raised its position in shares of Bank OZK by 1.9% during the 2nd quarter. BTC Capital Management Inc. now owns 16,838 shares of the company’s stock valued at $791,000 after purchasing an additional 311 shares during the period. State of Alaska Department of Revenue raised its position in shares of Bank OZK by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 12,359 shares of the company’s stock valued at $536,000 after purchasing an additional 330 shares during the period. Finally, Voya Investment Management LLC raised its position in shares of Bank OZK by 2.9% during the 1st quarter. Voya Investment Management LLC now owns 13,282 shares of the company’s stock valued at $577,000 after purchasing an additional 374 shares during the period. 86.18% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on OZK. Cowen started coverage on shares of Bank OZK in a research report on Wednesday, September 24th. They set a “buy” rating on the stock. Wells Fargo & Company lifted their price target on shares of Bank OZK from $49.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday. Morgan Stanley lifted their price target on shares of Bank OZK from $55.00 to $63.00 and gave the company an “underperform” rating in a report on Monday. Stephens upgraded shares of Bank OZK from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $58.00 to $65.00 in a report on Wednesday, August 20th. Finally, Raymond James Financial upgraded shares of Bank OZK from a “market perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a report on Tuesday, July 8th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $57.80.

Bank OZK Stock Performance

Bank OZK stock opened at $51.23 on Friday. The company’s 50-day moving average price is $50.95 and its 200-day moving average price is $47.23. Bank OZK has a twelve month low of $35.71 and a twelve month high of $53.66. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. The company has a market cap of $5.83 billion, a PE ratio of 8.32 and a beta of 0.88.

Bank OZK (NASDAQ:OZK) last posted its earnings results on Thursday, July 17th. The company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.07. Bank OZK had a net margin of 25.83% and a return on equity of 13.24%. The firm had revenue of $428.04 million for the quarter, compared to the consensus estimate of $423.41 million. During the same period in the previous year, the firm posted $1.52 EPS. On average, equities research analysts forecast that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Tuesday, October 14th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.5%. The ex-dividend date is Tuesday, October 14th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.44. Bank OZK’s payout ratio is currently 28.57%.

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.