LPL Financial LLC Raises Stock Holdings in Bank OZK (NASDAQ:OZK)

Key Points

• LPL Financial LLC increased its stake in Bank OZK by 7.0% during the first quarter, owning 387,492 shares worth approximately $16.8 million.
• Bank OZK recently increased its quarterly dividend from $0.43 to $0.44, resulting in an annualized dividend yield of 3.7%.
• The company reported $1.58 EPS for the last quarter, surpassing the consensus estimate of $1.51, alongside a revenue of $428.04 million.

LPL Financial LLC raised its position in Bank OZK (NASDAQ:OZK - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 387,492 shares of the company's stock after acquiring an additional 25,297 shares during the period. LPL Financial LLC owned approximately 0.34% of Bank OZK worth $16,837,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the business. Wasatch Advisors LP lifted its position in Bank OZK by 19.3% during the 4th quarter. Wasatch Advisors LP now owns 7,102,657 shares of the company's stock worth $316,281,000 after acquiring an additional 1,149,880 shares during the period. First Trust Advisors LP lifted its holdings in shares of Bank OZK by 30.4% during the fourth quarter. First Trust Advisors LP now owns 2,945,480 shares of the company's stock worth $131,162,000 after purchasing an additional 686,775 shares during the period. AQR Capital Management LLC boosted its position in Bank OZK by 12.6% in the fourth quarter. AQR Capital Management LLC now owns 2,811,354 shares of the company's stock valued at $125,190,000 after buying an additional 314,488 shares during the last quarter. Geode Capital Management LLC boosted its position in Bank OZK by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 2,038,463 shares of the company's stock valued at $90,798,000 after buying an additional 15,484 shares during the last quarter. Finally, Captrust Financial Advisors raised its position in Bank OZK by 5.1% during the 4th quarter. Captrust Financial Advisors now owns 1,786,155 shares of the company's stock worth $79,537,000 after buying an additional 87,299 shares during the last quarter. 86.18% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on OZK shares. Stephens cut their price objective on 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. Keefe, Bruyette & Woods cut their target price on shares of Bank OZK from $50.00 to $48.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Raymond James Financial raised 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 note on Tuesday, July 8th. Finally, Wells Fargo & Company boosted their price objective 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. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $52.88.

Bank OZK Trading Up 1.2%

Shares of NASDAQ OZK traded up $0.59 during trading on Friday, reaching $47.99. The stock had a trading volume of 1,020,956 shares, compared to its average volume of 1,205,974. The company has a market cap of $5.46 billion, a P/E ratio of 7.79 and a beta of 0.86. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.02 and a current ratio of 1.04. The business's 50-day moving average price is $48.41 and its 200-day moving average price is $46.50. Bank OZK has a fifty-two week low of $35.71 and a fifty-two week high of $53.64.

Bank OZK (NASDAQ:OZK - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.51 by $0.07. Bank OZK had a net margin of 25.83% and a return on equity of 13.24%. The company had revenue of $428.04 million during the quarter, compared to analysts' expectations of $423.41 million. During the same quarter last year, the company posted $1.52 EPS. On average, equities research 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 was paid on Friday, July 18th. Investors of record on Friday, July 11th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, July 11th. This represents a $1.76 annualized dividend and a yield of 3.7%. This is an increase from Bank OZK's previous quarterly dividend of $0.43. Bank OZK's dividend payout ratio (DPR) is 28.57%.

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.