Summit Trail Advisors LLC Purchases 11,298 Shares of Bank OZK (NASDAQ:OZK)

Summit Trail Advisors LLC boosted its holdings in Bank OZK (NASDAQ:OZK - Free Report) by 235.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,101 shares of the company's stock after acquiring an additional 11,298 shares during the quarter. Summit Trail Advisors LLC's holdings in Bank OZK were worth $700,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OZK. Oppenheimer & Co. Inc. raised its position in Bank OZK by 54.2% in the fourth quarter. Oppenheimer & Co. Inc. now owns 10,742 shares of the company's stock worth $478,000 after acquiring an additional 3,774 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Bank OZK during the 4th quarter worth about $660,000. Smartleaf Asset Management LLC raised its holdings in Bank OZK by 176.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 761 shares of the company's stock worth $34,000 after buying an additional 486 shares during the period. Jones Financial Companies Lllp raised its holdings in Bank OZK by 44.3% during the 4th quarter. Jones Financial Companies Lllp now owns 2,095 shares of the company's stock worth $93,000 after buying an additional 643 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Bank OZK by 4.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,130,006 shares of the company's stock worth $183,909,000 after buying an additional 188,575 shares during the period. 86.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on OZK shares. Keefe, Bruyette & Woods cut their price objective on Bank OZK from $50.00 to $48.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Stephens cut their price objective on Bank OZK from $59.00 to $54.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Wells Fargo & Company cut their price objective on Bank OZK from $48.00 to $40.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 9th. Finally, Morgan Stanley cut 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. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Bank OZK has a consensus rating of "Hold" and an average price target of $50.86.

Bank OZK Stock Up 0.2%

Shares of OZK traded up $0.09 during trading hours on Friday, reaching $51.04. The company's stock had a trading volume of 884,815 shares, compared to its average volume of 1,214,165. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of 8.37 and a beta of 0.85. Bank OZK has a 1-year low of $35.71 and a 1-year 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. The company has a 50 day moving average of $45.60 and a two-hundred day moving average of $45.49.

Bank OZK (NASDAQ:OZK - Get Free Report) last issued its earnings results on Wednesday, April 16th. The company reported $1.47 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.05. The company had revenue of $409.23 million for the quarter, compared to the consensus estimate of $403.05 million. Bank OZK had a return on equity of 13.46% and a net margin of 25.66%. During the same quarter in the prior year, the company earned $1.51 EPS. As a group, research analysts predict 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 will be paid on Friday, July 18th. Investors of record on Friday, July 11th will be paid a $0.44 dividend. This is a boost from Bank OZK's previous quarterly dividend of $0.43. The ex-dividend date is Friday, July 11th. This represents a $1.76 annualized dividend and a dividend yield of 3.45%. Bank OZK's payout ratio is presently 28.20%.

About Bank OZK

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.