Wealth Enhancement Advisory Services LLC Has $3.33 Million Position in Bank OZK $OZK

Key Points

• Wealth Enhancement Advisory Services LLC decreased its stake in Bank OZK by 10.4%, holding approximately 65,293 shares worth $3.33 million after selling 7,572 shares.
• Bank OZK reported earnings of $1.58 per share for the last quarter, surpassing estimates and reflecting a healthy return on equity of 13.24% and a net margin of 25.83%.
• The company announced a quarterly dividend of $0.44 per share, increasing from $0.43, which results in an annualized dividend yield of 3.4%.

Wealth Enhancement Advisory Services LLC lowered its stake in shares of Bank OZK (NASDAQ:OZK - Free Report) by 10.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,293 shares of the company's stock after selling 7,572 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.06% of Bank OZK worth $3,330,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Nuveen LLC bought a new position in shares of Bank OZK in the 1st quarter valued at $14,197,000. Earnest Partners LLC bought a new position in shares of Bank OZK in the 1st quarter valued at $12,696,000. Lord Abbett & CO. LLC bought a new position in shares of Bank OZK in the 1st quarter valued at $11,297,000. GAMMA Investing LLC raised its position in Bank OZK by 5,021.2% during the 1st quarter. GAMMA Investing LLC now owns 243,668 shares of the company's stock worth $10,587,000 after purchasing an additional 238,910 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Bank OZK by 10.5% during the 1st quarter. American Century Companies Inc. now owns 2,405,292 shares of the company's stock worth $104,510,000 after purchasing an additional 228,295 shares during the last quarter. Institutional investors and hedge funds own 86.18% of the company's stock.

Bank OZK Stock Performance

OZK stock opened at $52.01 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average price of $51.06 and a 200-day moving average price of $46.98. The firm has a market cap of $5.92 billion, a PE ratio of 8.44 and a beta of 0.92. Bank OZK has a 1-year low of $35.71 and a 1-year high of $53.66.

Bank OZK (NASDAQ:OZK - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.51 by $0.07. The company had revenue of $428.04 million during the quarter, compared to the consensus estimate of $423.41 million. Bank OZK had a return on equity of 13.24% and a net margin of 25.83%.During the same period last year, the business posted $1.52 EPS. As a group, equities research analysts expect that Bank OZK will post 6.02 earnings per share for the current year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Friday, July 11th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.76 annualized dividend and a dividend yield of 3.4%. This is an increase from Bank OZK's previous quarterly dividend of $0.43. Bank OZK's payout ratio is 28.57%.

Analyst Ratings Changes

Several brokerages recently issued reports on OZK. Raymond James Financial raised Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 target price for the company in a research report on Tuesday, July 8th. TD Cowen began coverage on Bank OZK in a research report on Thursday. They set a "buy" rating and a $67.00 target price for the company. Stephens raised Bank OZK from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $58.00 to $65.00 in a research report on Wednesday, August 20th. National Bankshares set a $67.00 price objective on Bank OZK in a research report on Wednesday. Finally, Cowen started coverage on Bank OZK in a research report on Wednesday. They issued a "buy" rating for the company. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $56.80.

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.

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