Groesbeck Investment Management Corp NJ Sells 2,809 Shares of Bank OZK (NASDAQ:OZK)

Groesbeck Investment Management Corp NJ decreased its holdings in shares of Bank OZK (NASDAQ:OZK) by 14.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,953 shares of the company’s stock after selling 2,809 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in Bank OZK were worth $729,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Tidal Investments LLC lifted its stake in Bank OZK by 4.0% during the first quarter. Tidal Investments LLC now owns 5,491 shares of the company’s stock worth $250,000 after purchasing an additional 210 shares during the period. HB Wealth Management LLC raised its stake in shares of Bank OZK by 3.9% in the first quarter. HB Wealth Management LLC now owns 6,607 shares of the company’s stock valued at $300,000 after acquiring an additional 249 shares during the last quarter. Evergreen Capital Management LLC raised its stake in shares of Bank OZK by 8.3% in the second quarter. Evergreen Capital Management LLC now owns 5,079 shares of the company’s stock valued at $208,000 after acquiring an additional 388 shares during the last quarter. Naples Global Advisors LLC raised its stake in shares of Bank OZK by 2.5% in the second quarter. Naples Global Advisors LLC now owns 16,550 shares of the company’s stock valued at $679,000 after acquiring an additional 400 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its stake in shares of Bank OZK by 0.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 82,134 shares of the company’s stock valued at $3,733,000 after acquiring an additional 409 shares during the last quarter. Institutional investors own 86.18% of the company’s stock.

Analyst Upgrades and Downgrades

OZK has been the subject of a number of research reports. Truist Financial lowered their price target on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company in a report on Monday, October 21st. Stephens lifted their target price on shares of Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Raymond James lowered shares of Bank OZK from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 17th. Piper Sandler lifted their target price on shares of Bank OZK from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, StockNews.com raised shares of Bank OZK from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $48.50.

Bank OZK Stock Performance

Shares of OZK stock traded down $0.83 on Friday, reaching $43.56. The stock had a trading volume of 1,203,067 shares, compared to its average volume of 1,276,421. Bank OZK has a 12 month low of $34.81 and a 12 month high of $52.36. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 7.30 and a beta of 1.17. The firm’s 50-day moving average is $42.48 and its two-hundred day moving average is $43.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12.

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 11th were paid a $0.41 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.64 dividend on an annualized basis and a yield of 3.76%. This is a positive change from Bank OZK’s previous quarterly dividend of $0.40. Bank OZK’s dividend payout ratio is 27.47%.

About Bank OZK

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.