Oppenheimer Asset Management Inc. Raises Position in Bank OZK (NASDAQ:OZK)

Oppenheimer Asset Management Inc. increased its holdings in shares of Bank OZK (NASDAQ:OZK - Free Report) by 39.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 82,513 shares of the company's stock after purchasing an additional 23,501 shares during the period. Oppenheimer Asset Management Inc. owned 0.07% of Bank OZK worth $3,585,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of OZK. Principal Securities Inc. grew its holdings in Bank OZK by 12.7% during the fourth quarter. Principal Securities Inc. now owns 2,509 shares of the company's stock worth $112,000 after purchasing an additional 283 shares during the period. Sanctuary Advisors LLC grew its holdings in Bank OZK by 9.3% during the fourth quarter. Sanctuary Advisors LLC now owns 25,741 shares of the company's stock worth $1,146,000 after purchasing an additional 2,183 shares during the period. Truist Financial Corp grew its holdings in Bank OZK by 15.2% during the fourth quarter. Truist Financial Corp now owns 13,869 shares of the company's stock worth $618,000 after purchasing an additional 1,833 shares during the period. Handelsbanken Fonder AB lifted its position in Bank OZK by 3.4% during the fourth quarter. Handelsbanken Fonder AB now owns 21,525 shares of the company's stock worth $959,000 after acquiring an additional 700 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its position in Bank OZK by 43.9% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 15,321 shares of the company's stock worth $682,000 after acquiring an additional 4,673 shares during the last quarter. Institutional investors own 86.18% of the company's stock.

Bank OZK Trading Down 0.4%

Shares of Bank OZK stock traded down $0.18 during trading on Friday, hitting $47.16. The company's stock had a trading volume of 602,971 shares, compared to its average volume of 1,221,130. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.02 and a quick ratio of 1.02. 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 $5.35 billion, a price-to-earnings ratio of 7.73 and a beta of 0.85. The stock has a 50-day moving average price of $44.80 and a two-hundred day moving average price of $45.36.

Bank OZK (NASDAQ:OZK - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The company reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.42 by $0.05. The business had revenue of $409.23 million for the quarter, compared to analysts' expectations of $403.05 million. Bank OZK had a net margin of 25.66% and a return on equity of 13.46%. During the same quarter in the prior year, the firm posted $1.51 earnings per share. Equities research analysts anticipate that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 14th were given a dividend of $0.43 per share. The ex-dividend date of this dividend was Monday, April 14th. This represents a $1.72 dividend on an annualized basis and a yield of 3.65%. This is a boost from Bank OZK's previous quarterly dividend of $0.42. Bank OZK's dividend payout ratio is 28.20%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on OZK shares. Stephens cut 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. Morgan Stanley cut their price objective on shares of Bank OZK from $58.00 to $54.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. Wells Fargo & Company dropped their price target on shares of Bank OZK from $48.00 to $40.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods dropped their price target 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. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Bank OZK currently has an average rating of "Hold" and a consensus target price of $50.86.

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.