Welch & Forbes LLC Decreases Position in Bank Ozk (NASDAQ:OZK)

Welch & Forbes LLC lessened its holdings in Bank Ozk (NASDAQ:OZK) by 9.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 54,478 shares of the company’s stock after selling 5,755 shares during the quarter. Welch & Forbes LLC’s holdings in Bank Ozk were worth $1,639,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of OZK. Icon Wealth Partners LLC purchased a new stake in shares of Bank Ozk during the 1st quarter worth $53,000. Quadrant Capital Group LLC lifted its position in shares of Bank Ozk by 57.0% during the 1st quarter. Quadrant Capital Group LLC now owns 2,819 shares of the company’s stock worth $76,000 after purchasing an additional 1,024 shares during the last quarter. Osborn Williams & Donohoe LLC purchased a new stake in shares of Bank Ozk during the 1st quarter worth $119,000. Toronto Dominion Bank lifted its position in shares of Bank Ozk by 91.9% during the 1st quarter. Toronto Dominion Bank now owns 6,944 shares of the company’s stock worth $201,000 after purchasing an additional 3,325 shares during the last quarter. Finally, Sabal Trust CO purchased a new stake in shares of Bank Ozk during the 1st quarter worth $210,000. 83.80% of the stock is owned by institutional investors.

NASDAQ:OZK traded down $0.14 during midday trading on Thursday, hitting $30.44. 27,629 shares of the company were exchanged, compared to its average volume of 912,040. The stock has a fifty day moving average of $29.71. Bank Ozk has a fifty-two week low of $21.02 and a fifty-two week high of $41.73. The company has a quick ratio of 0.96, a current ratio of 0.99 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $3.94 billion, a P/E ratio of 9.35, a PEG ratio of 0.75 and a beta of 1.85.

Bank Ozk (NASDAQ:OZK) last announced its quarterly earnings results on Thursday, July 18th. The company reported $0.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.01). Bank Ozk had a return on equity of 10.72% and a net margin of 32.47%. The company had revenue of $251.14 million for the quarter, compared to analyst estimates of $253.45 million. On average, equities analysts anticipate that Bank Ozk will post 3.37 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 12th were paid a dividend of $0.24 per share. This is a positive change from Bank Ozk’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 3.15%. The ex-dividend date was Thursday, July 11th. Bank Ozk’s dividend payout ratio (DPR) is currently 29.63%.

Several research firms have recently issued reports on OZK. Stephens set a $34.00 price objective on shares of Bank Ozk and gave the stock a “hold” rating in a research report on Thursday, July 11th. Zacks Investment Research lowered shares of Bank Ozk from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. Bank Ozk presently has an average rating of “Hold” and an average target price of $32.55.

About Bank Ozk

Bank OZK provides 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.

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

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