Bank OZK (NASDAQ:OZK) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. lifted its stake in shares of Bank OZK (NASDAQ:OZK - Free Report) by 44.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 195,320 shares of the company's stock after buying an additional 59,837 shares during the quarter. Edgestream Partners L.P. owned approximately 0.17% of Bank OZK worth $8,487,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. boosted its holdings in Bank OZK by 4.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,693 shares of the company's stock worth $1,029,000 after purchasing an additional 1,086 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Bank OZK by 55.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 129,980 shares of the company's stock worth $5,639,000 after purchasing an additional 46,349 shares during the period. Bank of New York Mellon Corp boosted its holdings in Bank OZK by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 1,127,576 shares of the company's stock worth $48,993,000 after purchasing an additional 23,492 shares during the period. GAMMA Investing LLC boosted its holdings in Bank OZK by 5,021.2% in the first quarter. GAMMA Investing LLC now owns 243,668 shares of the company's stock worth $10,587,000 after purchasing an additional 238,910 shares during the period. Finally, Deutsche Bank AG boosted its holdings in Bank OZK by 1.3% in the fourth quarter. Deutsche Bank AG now owns 34,815 shares of the company's stock worth $1,550,000 after purchasing an additional 455 shares during the period. Institutional investors and hedge funds own 86.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods cut their target price on Bank OZK from $50.00 to $48.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company raised their target price on Bank OZK from $40.00 to $48.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Raymond James Financial upgraded Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 target price on the stock in a research note on Tuesday, July 8th. Finally, Stephens cut their target price on Bank OZK from $59.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Bank OZK has an average rating of "Hold" and a consensus price target of $52.75.

Bank OZK Stock Performance

Shares of NASDAQ OZK traded up $0.74 during midday trading on Thursday, reaching $51.91. 1,852,906 shares of the company traded hands, compared to its average volume of 1,205,910. Bank OZK has a 52 week low of $35.71 and a 52 week high of $53.64. The stock has a 50-day moving average price of $47.03 and a 200 day moving average price of $45.92. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $5.90 billion, a price-to-earnings ratio of 8.51 and a beta of 0.85.

Bank OZK (NASDAQ:OZK - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The company reported $1.47 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.05. Bank OZK had a net margin of 25.66% and a return on equity of 13.46%. The business had revenue of $409.23 million for the quarter, compared to analysts' expectations of $403.05 million. During the same period in the previous year, the business earned $1.51 earnings per share. Sell-side analysts anticipate that Bank OZK will post 6.02 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Friday, July 11th will be issued a dividend of $0.44 per share. This is a positive change from Bank OZK's previous quarterly dividend of $0.43. This represents a $1.76 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date is Friday, July 11th. Bank OZK's payout ratio is presently 28.85%.

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.