Private Advisor Group LLC Purchases Shares of 5,780 Bank OZK (NASDAQ:OZK)

Key Points

• The Private Advisor Group LLC purchased a new stake in Bank OZK, acquiring 5,780 shares valued at approximately $251,000.
• Bank OZK recently increased its quarterly dividend to $0.44 per share, resulting in an annualized yield of 3.7%.
• Analysts have mixed ratings for Bank OZK, with the average rating being "Hold" and the average price target set at $52.88.

Private Advisor Group LLC acquired a new position in shares of Bank OZK (NASDAQ:OZK - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,780 shares of the company's stock, valued at approximately $251,000.

Several other institutional investors also recently bought and sold shares of OZK. Norges Bank acquired a new stake in Bank OZK during the 4th quarter worth about $53,114,000. Wasatch Advisors LP increased 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 in the last quarter. First Trust Advisors LP increased its stake in shares of Bank OZK by 30.4% in the 4th quarter. First Trust Advisors LP now owns 2,945,480 shares of the company's stock valued at $131,162,000 after purchasing an additional 686,775 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Bank OZK in the 4th quarter valued at about $14,077,000. Finally, AQR Capital Management LLC increased its stake in shares of Bank OZK by 12.6% in the 4th quarter. AQR Capital Management LLC now owns 2,811,354 shares of the company's stock valued at $125,190,000 after purchasing an additional 314,488 shares in the last quarter. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on OZK. 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 note on Monday, April 21st. Keefe, Bruyette & Woods cut their price objective 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. Raymond James Financial upgraded Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 price target for the company in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company upped their price target on Bank OZK from $48.00 to $49.00 and gave the company an "equal weight" rating in a research report on Monday, July 21st. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Bank OZK presently has a consensus rating of "Hold" and a consensus target price of $52.88.

Bank OZK Stock Up 0.3%

Shares of NASDAQ OZK traded up $0.15 during mid-day trading on Monday, hitting $47.97. The company had a trading volume of 1,059,640 shares, compared to its average volume of 1,206,517. The company has a market capitalization of $5.46 billion, a PE ratio of 7.79 and a beta of 0.86. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 1.02. Bank OZK has a 1-year low of $35.71 and a 1-year high of $53.64. The business's 50-day simple moving average is $48.22 and its 200 day simple moving average is $46.49.

Bank OZK (NASDAQ:OZK - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.51 by $0.07. The business had revenue of $428.04 million for the quarter, compared to analysts' expectations of $423.41 million. Bank OZK had a return on equity of 13.24% and a net margin of 25.83%. During the same quarter in the previous year, the firm earned $1.52 earnings per share. On average, analysts predict that Bank OZK will post 6.02 earnings per share for the current 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 issued a dividend of $0.44 per share. This is an increase from Bank OZK's previous quarterly dividend of $0.43. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, July 11th. Bank OZK's dividend payout ratio is 28.57%.

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.