19,896 Shares in Bank OZK $OZK Bought by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC purchased 19,896 shares of Bank OZK (NASDAQ:OZK) worth approximately $936,000 in the second quarter.
• Bank OZK has announced a dividend increase to $0.45 per share, with a 3.5% yield, to be paid on October 21st.
• Analyst ratings for Bank OZK are generally positive, with six analysts recommending a buy and an average price target of $57.80.

Janney Montgomery Scott LLC acquired a new stake in shares of Bank OZK (NASDAQ:OZK - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 19,896 shares of the company's stock, valued at approximately $936,000.

Other large investors have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its position in shares of Bank OZK by 4.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,693 shares of the company's stock valued at $1,029,000 after buying an additional 1,086 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Bank OZK by 55.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 129,980 shares of the company's stock valued at $5,639,000 after buying an additional 46,349 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Bank OZK by 2.1% during the first quarter. Bank of New York Mellon Corp now owns 1,127,576 shares of the company's stock valued at $48,993,000 after buying an additional 23,492 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Bank OZK by 13.4% during the first quarter. PNC Financial Services Group Inc. now owns 6,614 shares of the company's stock valued at $287,000 after buying an additional 782 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Bank OZK by 16.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 72,865 shares of the company's stock valued at $3,166,000 after buying an additional 10,229 shares during the last quarter. Institutional investors and hedge funds own 86.18% of the company's stock.

Bank OZK Stock Up 2.1%

Shares of OZK opened at $51.31 on Wednesday. The company has a market capitalization of $5.84 billion, a P/E ratio of 8.33 and a beta of 0.88. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 1.04. Bank OZK has a one year low of $35.71 and a one year high of $53.66. The business's 50 day simple moving average is $51.20 and its 200-day simple moving average is $47.55.

Bank OZK (NASDAQ:OZK - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.51 by $0.07. Bank OZK had a return on equity of 13.24% and a net margin of 25.83%.The business had revenue of $428.04 million for the quarter, compared to the consensus estimate of $423.41 million. During the same period in the previous year, the business earned $1.52 EPS. As a group, sell-side analysts predict that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Tuesday, October 14th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.5%. This is an increase from Bank OZK's previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Tuesday, October 14th. Bank OZK's payout ratio is currently 28.57%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Raymond James Financial raised shares of Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 price objective for the company in a research report on Tuesday, July 8th. National Bankshares set a $67.00 price target on shares of Bank OZK in a research report on Wednesday, September 24th. Stephens raised shares of Bank OZK from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $58.00 to $65.00 in a research report on Wednesday, August 20th. TD Cowen initiated coverage on shares of Bank OZK in a research report on Thursday, September 25th. They issued a "buy" rating and a $67.00 price target for the company. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Bank OZK in a research report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Bank OZK presently has an average rating of "Hold" and an average price target of $57.80.

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.

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