Bank OZK $OZK Shares Purchased by Vest Financial LLC

Key Points

• Vest Financial LLC has increased its stake in Bank OZK by 27.9%, owning 92,080 shares valued at approximately $4.33 million as of the second quarter.
• Bank OZK is set to pay a quarterly dividend of $0.45 on October 21st, marking an increase from its previous dividend of $0.44, resulting in an annualized yield of 3.6%.
• Several analysts have issued positive ratings for Bank OZK, with target prices ranging from $50.00 to $65.00, indicating strong market confidence in the company's performance.

Vest Financial LLC raised its position in shares of Bank OZK (NASDAQ:OZK - Free Report) by 27.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 92,080 shares of the company's stock after purchasing an additional 20,090 shares during the period. Vest Financial LLC owned 0.08% of Bank OZK worth $4,333,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CX Institutional acquired a new position in Bank OZK during the 1st quarter valued at about $30,000. Summit Securities Group LLC acquired a new position in Bank OZK during the 1st quarter valued at about $32,000. Brooklyn Investment Group boosted its stake in Bank OZK by 1,114.3% during the 1st quarter. Brooklyn Investment Group now owns 1,105 shares of the company's stock valued at $48,000 after purchasing an additional 1,014 shares during the period. Parallel Advisors LLC boosted its stake in Bank OZK by 70.8% during the 2nd quarter. Parallel Advisors LLC now owns 1,124 shares of the company's stock valued at $53,000 after purchasing an additional 466 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in Bank OZK by 1,137.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,535 shares of the company's stock valued at $72,000 after purchasing an additional 1,411 shares during the period. 86.18% of the stock is owned by institutional investors and hedge funds.

Bank OZK Stock Up 2.9%

OZK stock opened at $50.26 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23. The firm's 50-day moving average is $51.15 and its two-hundred day moving average is $47.53. Bank OZK has a 52 week low of $35.71 and a 52 week high of $53.66. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 8.16 and a beta of 0.88.

Bank OZK (NASDAQ:OZK - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.51 by $0.07. Bank OZK had a net margin of 25.83% and a return on equity of 13.24%. 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 firm earned $1.52 EPS. On average, analysts forecast that Bank OZK will post 6.02 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Tuesday, October 14th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Tuesday, October 14th. This is an increase from Bank OZK's previous quarterly dividend of $0.44. Bank OZK's payout ratio is presently 28.57%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Stephens raised shares of Bank OZK from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $58.00 to $65.00 in a research note on Wednesday, August 20th. Weiss Ratings restated a "buy (b)" rating on shares of Bank OZK in a research report on Wednesday, October 8th. Cowen started coverage on shares of Bank OZK in a research report on Wednesday, September 24th. They set a "buy" rating on the stock. Wells Fargo & Company boosted their price target on shares of Bank OZK from $49.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Monday, September 29th. Finally, Raymond James Financial upgraded shares of Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 price target on the stock in a research report on Tuesday, July 8th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Bank OZK has a consensus rating of "Hold" and a consensus target price of $57.80.

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.

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