Newport Trust Company LLC Cuts Position in Bank OZK $OZK

Newport Trust Company LLC lessened its stake in shares of Bank OZK (NASDAQ:OZK) by 13.0% during the third quarter, HoldingsChannel reports. The firm owned 592,735 shares of the company’s stock after selling 88,958 shares during the period. Newport Trust Company LLC’s holdings in Bank OZK were worth $30,218,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Root Financial Partners LLC purchased a new stake in Bank OZK during the 3rd quarter worth $27,000. Hantz Financial Services Inc. grew its stake in shares of Bank OZK by 58.2% during the second quarter. Hantz Financial Services Inc. now owns 590 shares of the company’s stock valued at $28,000 after acquiring an additional 217 shares in the last quarter. Highline Wealth Partners LLC acquired a new stake in shares of Bank OZK during the third quarter valued at about $28,000. True Wealth Design LLC increased its position in shares of Bank OZK by 147.0% during the third quarter. True Wealth Design LLC now owns 568 shares of the company’s stock worth $29,000 after acquiring an additional 338 shares during the last quarter. Finally, AdvisorNet Financial Inc grew its position in shares of Bank OZK by 82.2% during the third quarter. AdvisorNet Financial Inc now owns 665 shares of the company’s stock worth $34,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 86.18% of the company’s stock.

Bank OZK Stock Down 3.5%

NASDAQ:OZK opened at $45.94 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.03 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average of $46.85 and a 200-day moving average of $48.69. The firm has a market capitalization of $5.14 billion, a PE ratio of 7.45 and a beta of 0.90. Bank OZK has a 52 week low of $35.71 and a 52 week high of $53.66.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings results on Tuesday, January 20th. The company reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.03). The company had revenue of $436.29 million during the quarter, compared to the consensus estimate of $434.68 million. Bank OZK had a return on equity of 12.65% and a net margin of 25.50%.During the same period last year, the business posted $1.56 EPS. Analysts predict that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 20th. Stockholders of record on Tuesday, January 13th were given a dividend of $0.46 per share. This is an increase from Bank OZK’s previous quarterly dividend of $0.45. This represents a $1.84 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Tuesday, January 13th. Bank OZK’s payout ratio is currently 29.82%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on OZK. Wall Street Zen raised shares of Bank OZK from a “sell” rating to a “hold” rating in a report on Saturday, January 3rd. Citigroup restated a “sell” rating on shares of Bank OZK in a research note on Monday, January 5th. TD Cowen decreased their price target on Bank OZK from $56.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday. UBS Group reissued a “neutral” rating and issued a $51.00 price objective on shares of Bank OZK in a report on Tuesday, January 6th. Finally, Wells Fargo & Company increased their target price on Bank OZK from $49.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, September 29th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $56.78.

Bank OZK Profile

Bank OZK, formerly known as Bank of the Ozarks, is a regional commercial bank headquartered in Little Rock, Arkansas. Established in 1903, the bank offers a full suite of banking products and services to both individual and corporate clients. Through a combination of organic growth and targeted acquisitions, Bank OZK has built a diversified lending portfolio and a strong deposit franchise.

The bank’s core operations focus on commercial real estate lending, including acquisition, development and construction financing.