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Teacher Retirement System of Texas Sells 1,025 Shares of Bank OZK (NASDAQ:OZK)


The Teacher Retirement System of Texas lowered its holdings in Bank OZK (NASDAQ:OZK – Free Report) by 3.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 31,182 shares of the company's stock after selling 1,025 shares during the period. Teacher Retirement System of Texas' shares in Bank OZK were worth $1,554,000 at the end of the last quarter.

Other major investors have also recently changed their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Bank OZK worth approximately $432,000 in the third quarter. Fifth Third Bancorp increased its position in shares of Bank OZK by 25.5% in the 3rd quarter. Fifth Third Bancorp now owns 1,487 shares of the company's stock valued at $55,000 after purchasing an additional 302 shares in the last quarter. M&T Bank Corp increased its stake in shares of Bank OZK by 1.0% in the third quarter. M&T Bank Corp now owns 46,195 shares of the company's stock valued at $1,712,000 after purchasing an additional 441 shares during the period. MGO One Seven LLC increased its position in shares of Bank OZK by 4.8% in the third quarter. MGO One Seven LLC now owns 6,894 shares of the company's stock valued at $256,000 after purchasing an additional 316 shares in the last quarter. Finally, Versor Investments LP acquired a new stake in Bank OZK in the third quarter valued at $741,000. 86.18% of the shares are currently owned by institutional investors.

Bank OZK price development

Shares of NASDAQ OZK opened at $48.50 on Friday. The company has a market cap of $5.49 billion, a P/E ratio of 8.12 and a beta of 1.24. Bank OZK has a 12-month low of $34.03 and a 12-month 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 has a 50-day moving average of $45.00 and a 200-day moving average of $44.70.

Bank OZK (NASDAQ:OZK – Get Free Report) last announced its quarterly results on Thursday, April 18. The company reported earnings per share (EPS) of $1.51 for the quarter, beating analysts' consensus estimates of $1.44 by $0.07. Bank OZK posted return on equity of 14.84% and net margin of 28.54%. The company posted revenue of $406.02 million during the quarter, compared to the consensus estimate of $396.81 million. During the same period last year, the company posted earnings per share of $1.41. As a group, research analysts expect that Bank OZK will report EPS of 6.07 for the current fiscal year.

Bank OZK increases dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 12th were given a dividend of $0.39 per share. This equates to a dividend of $1.56 on an annual basis and a dividend yield of 3.22%. The ex-dividend date of this dividend was Thursday, April 11th. This is an increase from Bank OZK's previous quarterly dividend of $0.38. Bank OZK's dividend payout ratio (DPR) is currently 26.13%.

Changes in Analyst Ratings

Several brokerage firms have commented on OZK. Truist Financial lowered their target price on Bank OZK from $48.00 to $47.00 and set a “hold” rating on the company in a research report on Monday, April 22nd. Keefe, Bruyette & Woods increased their price objective on shares of Bank OZK from $45.00 to $47.00 and gave the stock a “market perform” rating in a research note on Monday, April 22nd. Citigroup lowered their target price on shares of Bank OZK from $62.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. StockNews.com downgraded Bank OZK from a “hold” rating to a “sell” rating in a research report on Friday, March 22. Finally, Wells Fargo & Company lowered their target price on Bank OZK from $41.00 to $39.00 and gave the company an “underweight” rating in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $49.14, according to data from MarketBeat.com.

Check out our current stock analysis for Bank OZK

About Bank OZK

(Free Report)

Bank OZK offers a variety of personal and commercial banking services to individuals and businesses throughout the United States. The Company offers deposit services, including noninterest-bearing checking accounts, interest-bearing transactions, business savings accounts, money market accounts, individual retirement accounts and other accounts, as well as term and mutual deposits.

Selected stories

Want to see which other hedge funds are holding OZK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank OZK (NASDAQ:OZK – Free Report).

Institutional Ownership by Quarter for Bank OZK (NASDAQ:OZK)



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