Burford Brothers Inc. Takes $601,000 Position in Bank OZK $OZK

Key Points

• Burford Brothers Inc. has recently acquired a new stake in Bank OZK, purchasing 12,761 shares valued at approximately $601,000.
• Bank OZK's quarterly earnings report revealed a missed earnings estimate with $1.59 EPS compared to the consensus of $1.66, alongside revenues slightly above expectations.
• The company has declared a quarterly dividend increase to $0.45 per share, effective October 21st, raising the annual yield to 3.9%.

Burford Brothers Inc. purchased a new stake in shares of Bank OZK (NASDAQ:OZK - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 12,761 shares of the company's stock, valued at approximately $601,000.

Other large investors have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its stake 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 acquiring an additional 1,086 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake 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 acquiring an additional 46,349 shares during the last quarter. Bank of New York Mellon Corp raised its stake 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 acquiring an additional 23,492 shares during the last quarter. PNC Financial Services Group Inc. raised its stake 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 acquiring an additional 782 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake 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 acquiring an additional 10,229 shares during the last quarter. Institutional investors own 86.18% of the company's stock.

Bank OZK Trading Down 2.3%

OZK opened at $45.96 on Friday. Bank OZK has a 1-year low of $35.71 and a 1-year high of $53.66. 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 company has a market cap of $5.23 billion, a P/E ratio of 7.41 and a beta of 0.88. The company has a fifty day moving average price of $51.20 and a two-hundred day moving average price of $47.64.

Bank OZK (NASDAQ:OZK - Get Free Report) last posted its quarterly earnings results on Thursday, October 16th. The company reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.07). Bank OZK had a net margin of 25.81% and a return on equity of 13.16%. The company had revenue of $449.94 million during the quarter, compared to the consensus estimate of $447.93 million. During the same period last year, the firm posted $1.55 earnings per share. 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. Shareholders of record on Tuesday, October 14th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.9%. 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 presently 29.22%.

Analyst Ratings Changes

OZK has been the subject of a number of analyst reports. National Bankshares set a $67.00 target price on shares of Bank OZK in a research note on Wednesday, September 24th. Stephens raised shares of Bank OZK from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $58.00 to $65.00 in a research note on Wednesday, August 20th. Cowen initiated coverage on shares of Bank OZK in a research note on Wednesday, September 24th. They set a "buy" rating for the company. Wells Fargo & Company lifted their target price on shares of Bank OZK from $49.00 to $50.00 and gave the stock an "equal weight" rating in a research note on Monday, September 29th. Finally, Raymond James Financial raised shares of Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 target price for the company in a research note on Tuesday, July 8th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $57.22.

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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