Venturi Wealth Management LLC Cuts Stock Position in Bank OZK $OZK

Venturi Wealth Management LLC lessened its stake in Bank OZK (NASDAQ:OZK) by 9.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,009 shares of the company’s stock after selling 501 shares during the period. Venturi Wealth Management LLC’s holdings in Bank OZK were worth $236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS grew its stake in Bank OZK by 4.2% in the second quarter. KLP Kapitalforvaltning AS now owns 29,600 shares of the company’s stock valued at $1,393,000 after purchasing an additional 1,200 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Bank OZK by 11.8% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 96,138 shares of the company’s stock valued at $4,524,000 after purchasing an additional 10,159 shares during the last quarter. Truist Financial Corp grew its stake in Bank OZK by 7.1% in the second quarter. Truist Financial Corp now owns 16,494 shares of the company’s stock valued at $776,000 after purchasing an additional 1,088 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in Bank OZK in the second quarter valued at about $936,000. Finally, Congress Asset Management Co. grew its stake in Bank OZK by 37.4% in the second quarter. Congress Asset Management Co. now owns 85,702 shares of the company’s stock valued at $4,033,000 after purchasing an additional 23,350 shares during the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on OZK. Weiss Ratings reiterated a “buy (b)” rating on shares of Bank OZK in a research note on Wednesday. Raymond James Financial upgraded Bank OZK from a “market perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a research note on Tuesday, July 8th. Stephens upgraded Bank OZK from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $58.00 to $65.00 in a research note on Wednesday, August 20th. Morgan Stanley boosted their price target on Bank OZK from $55.00 to $63.00 and gave the stock an “underperform” rating in a research note on Monday, September 29th. Finally, National Bankshares set a $67.00 price target on Bank OZK in a research note on Wednesday, September 24th. Six analysts have rated the stock with a Buy rating, four have given 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 an average price target of $57.80.

Bank OZK Price Performance

Shares of NASDAQ OZK opened at $48.83 on Friday. The business’s 50 day moving average price is $51.10 and its 200 day moving average price is $47.45. The firm has a market cap of $5.55 billion, a P/E ratio of 7.93 and a beta of 0.88. Bank OZK has a 52 week low of $35.71 and a 52 week high of $53.66. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.23.

Bank OZK (NASDAQ:OZK) last issued its earnings results on Thursday, July 17th. The company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.07. The firm had revenue of $428.04 million for the quarter, compared to analyst estimates of $423.41 million. Bank OZK had a return on equity of 13.24% and a net margin of 25.83%.During the same quarter in the prior year, the firm earned $1.52 earnings per share. On average, sell-side analysts expect that Bank OZK will post 6.02 earnings per share for the current year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Tuesday, October 14th will be given a $0.45 dividend. This is an increase from Bank OZK’s previous quarterly dividend of $0.44. This represents a $1.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Tuesday, October 14th. Bank OZK’s payout ratio is currently 28.57%.

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.