Sabal Trust CO Acquires New Position in Bank OZK (NASDAQ:OZK)
Sabal Trust CO acquired a new stake in shares of Bank OZK (NASDAQ:OZK) in the first quarter, Holdings Channel reports. The firm acquired 6,304 shares of the company’s stock, valued at approximately $258,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in OZK. Squarepoint Ops LLC bought a new stake in Bank OZK during the 3rd quarter valued at about $475,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Bank OZK in the 3rd quarter valued at about $2,147,000. California State Teachers Retirement System raised its holdings in shares of Bank OZK by 1.6% in the 3rd quarter. California State Teachers Retirement System now owns 209,108 shares of the company’s stock valued at $4,458,000 after purchasing an additional 3,309 shares in the last quarter. Paloma Partners Management Co bought a new stake in shares of Bank OZK in the 3rd quarter valued at about $348,000. Finally, Eudaimonia Partners LLC bought a new stake in shares of Bank OZK in the 3rd quarter valued at about $215,000. Institutional investors own 85.37% of the company’s stock.
OZK opened at $38.47 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a fifty day moving average price of $41.80 and a 200 day moving average price of $33.77. Bank OZK has a 1 year low of $17.33 and a 1 year high of $45.83. The stock has a market cap of $4.98 billion, a P/E ratio of 18.32 and a beta of 1.90.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 19th. Stockholders of record on Monday, April 12th were issued a dividend of $0.28 per share. This is a positive change from Bank OZK’s previous quarterly dividend of $0.28. The ex-dividend date was Friday, April 9th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.91%. Bank OZK’s dividend payout ratio is presently 33.94%.
Several research firms have recently commented on OZK. Truist boosted their price target on shares of Bank OZK from $37.00 to $45.00 in a report on Monday, March 8th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price target on shares of Bank OZK from $37.00 to $40.00 in a report on Wednesday, April 14th. TheStreet raised shares of Bank OZK from a “c+” rating to a “b” rating in a research report on Tuesday, January 5th. Morgan Stanley lifted their price objective on shares of Bank OZK from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 24th. Finally, Citigroup lifted their price objective on shares of Bank OZK from $37.00 to $40.00 in a research report on Wednesday, April 14th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $35.20.
Bank OZK Company Profile
Bank OZK provides various retail and commercial banking services. The company accepts various deposit products, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time deposits. It also offers real estate, consumer and business purpose, indirect recreational vehicle and marine, commercial and industrial, government guaranteed, agricultural, small business, homebuilder, and affordable housing loans; business aviation and subscription financing services; and mortgage and other lending products.
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