82,416 Shares in Bank OZK $OZK Purchased by Integrated Wealth Concepts LLC

Key Points

• Integrated Wealth Concepts LLC purchased 82,416 Bank OZK shares worth approximately $4.3 million, while institutional investors collectively own 86.18% of the company.
• Analysts maintain a consensus “Hold” rating with an average price target of $56.88; recent ratings include a Citigroup “Sell” and Wells Fargo “Equal Weight.”
• Bank OZK reported quarterly EPS of $1.49, slightly above estimates, raised its quarterly dividend to $0.48 per share, and authorized a $200 million share buyback.

Integrated Wealth Concepts LLC purchased a new stake in shares of Bank OZK (NASDAQ:OZK - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 82,416 shares of the company's stock, valued at approximately $4,293,000. Integrated Wealth Concepts LLC owned about 0.07% of Bank OZK as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Wasatch Advisors LP increased its position in shares of Bank OZK by 34.9% during the 3rd quarter. Wasatch Advisors LP now owns 7,437,646 shares of the company's stock worth $379,171,000 after purchasing an additional 1,924,387 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Bank OZK by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,625,660 shares of the company's stock valued at $304,045,000 after buying an additional 38,592 shares during the last quarter. State Street Corp grew its stake in shares of Bank OZK by 9.1% in the fourth quarter. State Street Corp now owns 6,556,105 shares of the company's stock valued at $301,712,000 after buying an additional 546,785 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of Bank OZK by 4,666.9% in the second quarter. California State Teachers Retirement System now owns 6,348,885 shares of the company's stock valued at $330,713,000 after buying an additional 6,215,699 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Bank OZK by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,554,014 shares of the company's stock worth $209,576,000 after buying an additional 73,920 shares during the last quarter. 86.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Citigroup reaffirmed a "sell" rating on shares of Bank OZK in a research report on Monday, August 17th. Weiss Ratings upgraded shares of Bank OZK from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, June 23rd. Raymond James Financial started coverage on shares of Bank OZK in a research note on Tuesday, September 1st. They set a "market perform" rating on the stock. TD Cowen dropped their target price on shares of Bank OZK from $53.00 to $52.00 and set a "hold" rating on the stock in a report on Friday, July 24th. Finally, Wells Fargo & Company raised their target price on shares of Bank OZK from $52.00 to $56.00 and gave the company an "equal weight" rating in a research note on Monday, August 10th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $56.88.

Bank OZK Stock Up 0.7%

OZK opened at $49.09 on Friday. The stock's fifty day simple moving average is $50.53 and its 200 day simple moving average is $48.78. Bank OZK has a 1-year low of $42.37 and a 1-year high of $53.41. The stock has a market cap of $5.49 billion, a PE ratio of 8.11 and a beta of 0.88. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.08.

Bank OZK (NASDAQ:OZK - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.48 by $0.01. Bank OZK had a net margin of 24.95% and a return on equity of 11.87%. The firm had revenue of $430.02 million during the quarter, compared to analysts' expectations of $436.42 million. During the same period in the previous year, the business posted $1.47 earnings per share. The company's revenue for the quarter was up .5% compared to the same quarter last year. As a group, research analysts expect that Bank OZK will post 5.83 earnings per share for the current year.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Monday, July 13th were paid a dividend of $0.48 per share. The ex-dividend date was Monday, July 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.9%. This is a boost from Bank OZK's previous quarterly dividend of $0.47. Bank OZK's dividend payout ratio is 31.74%.

Bank OZK declared that its Board of Directors has approved a share buyback plan on Monday, June 29th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.

About Bank OZK

Bank OZK is a regional financial institution headquartered in Little Rock, Arkansas. The company provides banking services to individuals, businesses and institutions through a network of banking offices concentrated in the Southeastern United States and select markets, including New York and California.

Its products and services include checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, commercial and industrial financing, treasury management and other business banking solutions.

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