Handelsbanken Fonder AB bought a new position in shares of Bank Ozk (NASDAQ:OZK) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 905,000 shares of the company’s stock, valued at approximately $34,354,000. Bank Ozk makes up about 1.2% of Handelsbanken Fonder AB’s holdings, making the stock its 29th biggest holding.
Several other institutional investors have also added to or reduced their stakes in OZK. First Citizens Bank & Trust Co. purchased a new stake in shares of Bank Ozk in the third quarter valued at about $296,000. BKD Wealth Advisors LLC purchased a new stake in shares of Bank Ozk in the third quarter valued at about $304,000. Raymond James Trust N.A. purchased a new stake in shares of Bank Ozk in the third quarter valued at about $382,000. Osborn Williams & Donohoe LLC purchased a new stake in shares of Bank Ozk in the third quarter valued at about $404,000. Finally, Bank of Montreal Can purchased a new stake in shares of Bank Ozk in the third quarter valued at about $434,000. 87.05% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on the stock. TheStreet lowered shares of Bank Ozk from a “b-” rating to a “c+” rating in a report on Friday, October 12th. Sandler O’Neill cut shares of Bank Ozk from a “buy” rating to a “hold” rating in a research report on Friday. Raymond James cut shares of Bank Ozk from an “outperform” rating to a “market perform” rating in a research report on Friday. ValuEngine cut shares of Bank Ozk from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 13th. Finally, Brean Capital reaffirmed a “buy” rating on shares of Bank Ozk in a research report on Monday, August 27th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Bank Ozk has a consensus rating of “Hold” and an average target price of $48.50.
Bank Ozk (NASDAQ:OZK) last posted its earnings results on Thursday, October 18th. The company reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.32). Bank Ozk had a net margin of 41.20% and a return on equity of 12.05%. The company had revenue of $244.74 million during the quarter, compared to analyst estimates of $258.05 million. During the same period in the previous year, the company earned $0.75 EPS. As a group, analysts anticipate that Bank Ozk will post 3.6 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 19th. Shareholders of record on Friday, October 12th will be given a $0.21 dividend. The ex-dividend date is Thursday, October 11th. This represents a $0.84 dividend on an annualized basis and a yield of 3.12%. This is a boost from Bank Ozk’s previous quarterly dividend of $0.20. Bank Ozk’s dividend payout ratio is presently 28.38%.
Bank Ozk Profile
Bank OZK provides a range of retail and commercial banking services to businesses, individuals, and non-profit and governmental entities. The company accepts non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time deposits.
Further Reading: Diversification in Investing
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