LPL Financial LLC Purchases 25,297 Shares of 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 first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 387,492 shares of the company's stock after acquiring an additional 25,297 shares during the quarter. LPL Financial LLC owned approximately 0.34% of Bank OZK worth $16,837,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Inspire Advisors LLC bought a new position in shares of Bank OZK in the first quarter valued at about $636,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Bank OZK by 7.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,900 shares of the company's stock worth $1,430,000 after acquiring an additional 2,368 shares during the period. FourThought Financial Partners LLC increased its position in Bank OZK by 3.7% during the first quarter. FourThought Financial Partners LLC now owns 13,132 shares of the company's stock worth $571,000 after acquiring an additional 467 shares during the period. Venturi Wealth Management LLC increased its position in Bank OZK by 152.2% during the first quarter. Venturi Wealth Management LLC now owns 5,510 shares of the company's stock worth $239,000 after acquiring an additional 3,325 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Bank OZK during the first quarter worth about $374,000. 86.18% of the stock is owned by institutional investors.

Bank OZK Price Performance

Shares of OZK traded up $0.59 during mid-day trading on Friday, reaching $47.99. The company had a trading volume of 1,021,776 shares, compared to its average volume of 1,164,749. The company's 50 day simple moving average is $48.48 and its 200 day simple moving average is $46.48. Bank OZK has a 1-year low of $35.71 and a 1-year high of $53.64. 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 company has a market capitalization of $5.46 billion, a price-to-earnings ratio of 7.79 and a beta of 0.86.

Bank OZK (NASDAQ:OZK - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $1.58 earnings per share for the quarter, beating 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 company had revenue of $428.04 million for the quarter, compared to the consensus estimate of $423.41 million. During the same period last year, the company posted $1.52 EPS. Analysts expect that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Friday, July 11th were given 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 a boost from Bank OZK's previous quarterly dividend of $0.43. Bank OZK's dividend payout ratio is 28.57%.

Analysts Set New Price Targets

OZK has been the topic of a number of recent research reports. Stephens lowered their price target on shares of Bank OZK from $59.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Keefe, Bruyette & Woods lowered their price target on shares of Bank OZK from $50.00 to $48.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company raised their price target on shares of Bank OZK from $48.00 to $49.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. 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 on the stock in a report on Tuesday, July 8th. Six equities research 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, Bank OZK has an average rating of "Hold" and an average target price of $52.88.

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.