Bank OZK $OZK Shares Bought by Sowell Financial Services LLC

Key Points

• Sowell Financial Services LLC significantly increased its position in Bank OZK by 395.7% during the second quarter, owning 40,682 shares worth approximately $1.9 million as of their latest SEC filing.
• Bank OZK recently announced a quarterly dividend of $0.44, a slight increase from the previous dividend, representing a yield of 3.4%.
• Wall Street analysts have shown optimism for Bank OZK, with three analysts rating the stock as a "Buy" and an average price target of $54.25.

Sowell Financial Services LLC grew its position in Bank OZK (NASDAQ:OZK - Free Report) by 395.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,682 shares of the company's stock after acquiring an additional 32,475 shares during the quarter. Sowell Financial Services LLC's holdings in Bank OZK were worth $1,915,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Tidal Investments LLC increased its holdings in shares of Bank OZK by 1.0% in the 4th quarter. Tidal Investments LLC now owns 21,575 shares of the company's stock valued at $961,000 after acquiring an additional 205 shares during the last quarter. National Bank of Canada FI grew its stake in Bank OZK by 12.8% during the 1st quarter. National Bank of Canada FI now owns 1,960 shares of the company's stock worth $85,000 after buying an additional 223 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in Bank OZK by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 29,600 shares of the company's stock worth $1,286,000 after buying an additional 300 shares during the last quarter. BTC Capital Management Inc. grew its stake in Bank OZK by 1.9% during the 2nd quarter. BTC Capital Management Inc. now owns 16,838 shares of the company's stock worth $791,000 after buying an additional 311 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Bank OZK by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 12,359 shares of the company's stock worth $536,000 after buying an additional 330 shares during the last quarter. 86.18% of the stock is currently owned by institutional investors.

Bank OZK Stock Down 1.8%

Shares of Bank OZK stock opened at $51.63 on Tuesday. The stock has a 50-day moving average price of $51.04 and a 200 day moving average price of $46.81. The company has a market cap of $5.87 billion, a P/E ratio of 8.38 and a beta of 0.92. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23. Bank OZK has a 1 year low of $35.71 and a 1 year high of $53.66.

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

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Friday, July 11th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, July 11th. This is an increase from Bank OZK's previous quarterly dividend of $0.43. Bank OZK's payout ratio is currently 28.57%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OZK. Raymond James Financial upgraded Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 price objective for the company in a research note on Tuesday, July 8th. Stephens raised 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 note on Wednesday, August 20th. Finally, Wells Fargo & Company increased their price target on Bank OZK from $48.00 to $49.00 and gave the stock an "equal weight" rating in a research note on Monday, July 21st. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $54.25.

Bank OZK Company 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.

Want to see what other hedge funds are holding OZK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank OZK (NASDAQ:OZK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.