Oppenheimer Asset Management Inc. boosted 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 Securities and Exchange Commission (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 about 0.07% of Bank OZK worth $3,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently added to or reduced their stakes in the business. Wasatch Advisors LP lifted its stake in shares of Bank OZK by 19.3% in the 4th quarter. Wasatch Advisors LP now owns 7,102,657 shares of the company's stock valued at $316,281,000 after purchasing an additional 1,149,880 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Bank OZK by 4.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,130,006 shares of the company's stock valued at $183,909,000 after buying an additional 188,575 shares in the last quarter. First Trust Advisors LP increased its holdings in Bank OZK by 30.4% in the fourth quarter. First Trust Advisors LP now owns 2,945,480 shares of the company's stock valued at $131,162,000 after buying an additional 686,775 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Bank OZK by 12.6% in the fourth quarter. AQR Capital Management LLC now owns 2,811,354 shares of the company's stock worth $125,190,000 after acquiring an additional 314,488 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Bank OZK by 12.3% during the 4th quarter. American Century Companies Inc. now owns 2,176,997 shares of the company's stock worth $96,942,000 after acquiring an additional 238,810 shares in the last quarter. 86.18% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on OZK shares. Stephens cut their price target on Bank OZK from $59.00 to $54.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Morgan Stanley dropped their price objective on Bank OZK from $58.00 to $54.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. Keefe, Bruyette & Woods reduced their target price on 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. Finally, Wells Fargo & Company decreased their target price on Bank OZK from $48.00 to $40.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $50.86.
Check Out Our Latest Stock Analysis on OZK
Bank OZK Price Performance
Shares of Bank OZK stock traded down $0.17 during mid-day trading on Friday, reaching $47.17. 47,377 shares of the stock traded hands, compared to its average volume of 1,224,563. The stock has a market capitalization of $5.35 billion, a PE ratio of 7.73 and a beta of 0.85. The business has a 50-day moving average of $44.69 and a 200 day moving average of $45.38. Bank OZK has a fifty-two week low of $35.71 and a fifty-two week high of $53.64. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.14.
Bank OZK (NASDAQ:OZK - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.42 by $0.05. Bank OZK had a return on equity of 13.46% and a net margin of 25.66%. The firm had revenue of $409.23 million during the quarter, compared to the consensus estimate of $403.05 million. During the same period in the prior year, the company earned $1.51 EPS. On average, analysts predict that Bank OZK will post 6.02 EPS for the current year.
Bank OZK Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 14th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 3.65%. The ex-dividend date was Monday, April 14th. This is a boost from Bank OZK's previous quarterly dividend of $0.42. Bank OZK's dividend payout ratio is currently 28.20%.
About Bank OZK
(
Free Report)
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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