Naviter Wealth LLC Sells 7,240 Shares of Bank OZK (NASDAQ:OZK)

Naviter Wealth LLC cut its position in shares of Bank OZK (NASDAQ:OZK) by 17.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 34,265 shares of the company’s stock after selling 7,240 shares during the quarter. Naviter Wealth LLC’s holdings in Bank OZK were worth $1,707,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. MCF Advisors LLC bought a new position in shares of Bank OZK during the fourth quarter worth about $73,000. Fifth Third Bancorp grew its holdings in shares of Bank OZK by 25.5% during the third quarter. Fifth Third Bancorp now owns 1,487 shares of the company’s stock worth $55,000 after buying an additional 302 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Bank OZK during the fourth quarter worth about $220,000. Vest Financial LLC bought a new position in shares of Bank OZK during the fourth quarter worth about $235,000. Finally, Foster & Motley Inc. bought a new position in shares of Bank OZK during the fourth quarter worth about $238,000. 86.18% of the stock is currently owned by institutional investors.

Bank OZK Price Performance

Shares of OZK traded down $0.12 during midday trading on Monday, hitting $45.90. The company’s stock had a trading volume of 373,403 shares, compared to its average volume of 1,191,546. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 7.71 and a beta of 1.27. Bank OZK has a one year low of $30.72 and a one year high of $52.36. The company has a quick ratio of 1.03, a current ratio of 1.01 and a debt-to-equity ratio of 0.14. The company’s fifty day simple moving average is $43.75 and its two-hundred day simple moving average is $43.64.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings data on Thursday, April 18th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.07. The business had revenue of $406.02 million for the quarter, compared to analyst estimates of $396.81 million. Bank OZK had a return on equity of 14.84% and a net margin of 28.54%. During the same quarter in the previous year, the company posted $1.41 EPS. As a group, equities analysts expect that Bank OZK will post 6.04 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 12th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.40%. This is an increase from Bank OZK’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, April 11th. Bank OZK’s payout ratio is currently 26.13%.

Wall Street Analyst Weigh In

Several research analysts recently commented on OZK shares. StockNews.com cut Bank OZK from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. Raymond James raised Bank OZK from a “market perform” rating to an “outperform” rating and set a $58.00 price target for the company in a research report on Friday, January 5th. Wells Fargo & Company reduced their price target on Bank OZK from $41.00 to $39.00 and set an “underweight” rating for the company in a research report on Thursday, February 1st. UBS Group cut Bank OZK from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Finally, Keefe, Bruyette & Woods raised their price objective on Bank OZK from $45.00 to $47.00 and gave the company a “market perform” rating in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $49.14.

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.