Concurrent Investment Advisors LLC Invests $307,000 in Bank OZK (NASDAQ:OZK)

Concurrent Investment Advisors LLC purchased a new position in shares of Bank OZK (NASDAQ:OZK - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,057 shares of the company's stock, valued at approximately $307,000.

Other hedge funds also recently modified their holdings of the company. CX Institutional bought a new stake in Bank OZK during the first quarter valued at $30,000. Bruce G. Allen Investments LLC raised its holdings in shares of Bank OZK by 4,828.6% during the first quarter. Bruce G. Allen Investments LLC now owns 1,035 shares of the company's stock valued at $45,000 after purchasing an additional 1,014 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in shares of Bank OZK during the fourth quarter valued at about $54,000. UMB Bank n.a. raised its holdings in shares of Bank OZK by 2,014.3% during the first quarter. UMB Bank n.a. now owns 1,480 shares of the company's stock valued at $64,000 after purchasing an additional 1,410 shares during the period. Finally, Whipplewood Advisors LLC raised its holdings in shares of Bank OZK by 1,052.0% during the first quarter. Whipplewood Advisors LLC now owns 1,993 shares of the company's stock valued at $87,000 after purchasing an additional 1,820 shares during the period. Institutional investors and hedge funds own 86.18% of the company's stock.

Analyst Upgrades and Downgrades

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

Bank OZK Stock Performance

OZK stock traded down $1.84 during midday trading on Tuesday, reaching $50.71. 1,417,247 shares of the company's stock traded hands, compared to its average volume of 1,208,179. Bank OZK has a 52-week low of $35.71 and a 52-week high of $53.64. The stock has a market cap of $5.77 billion, a P/E ratio of 8.31 and a beta of 0.85. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.14. The stock's 50-day moving average is $46.43 and its 200 day moving average is $45.74.

Bank OZK (NASDAQ:OZK - Get Free Report) last issued its earnings results on Wednesday, April 16th. The company reported $1.47 earnings per share for the quarter, topping 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 firm had revenue of $409.23 million during the quarter, compared to analyst estimates of $403.05 million. During the same quarter in the prior year, the business earned $1.51 earnings per share. As a group, analysts anticipate that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Friday, July 11th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, July 11th. This is a boost from Bank OZK's previous quarterly dividend of $0.43. This represents a $1.76 dividend on an annualized basis and a yield of 3.47%. Bank OZK's dividend payout ratio (DPR) is 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.