Wipfli Financial Advisors LLC purchased a new stake in Bank OZK (NASDAQ:OZK – Get Rating) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 1,824 shares of the company’s stock, valued at approximately $72,000.
Other institutional investors also recently made changes to their positions in the company. Sabal Trust CO purchased a new stake in shares of Bank OZK during the 2nd quarter valued at $248,000. SeaCrest Wealth Management LLC purchased a new stake in Bank OZK during the 2nd quarter worth $150,000. Versor Investments LP boosted its position in Bank OZK by 18.0% during the 2nd quarter. Versor Investments LP now owns 7,734 shares of the company’s stock worth $290,000 after purchasing an additional 1,177 shares during the period. TCW Group Inc. boosted its position in Bank OZK by 24.6% during the 2nd quarter. TCW Group Inc. now owns 329,055 shares of the company’s stock worth $12,349,000 after purchasing an additional 65,004 shares during the period. Finally, CX Institutional purchased a new stake in Bank OZK during the 2nd quarter worth $26,000. 76.17% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on OZK shares. Keefe, Bruyette & Woods decreased their price target on shares of Bank OZK from $45.00 to $40.00 and set a “market perform” rating for the company in a research report on Wednesday, January 4th. StockNews.com assumed coverage on shares of Bank OZK in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Morgan Stanley assumed coverage on shares of Bank OZK in a research report on Monday, December 5th. They issued an “equal weight” rating and a $48.00 price objective for the company. UBS Group upped their price objective on shares of Bank OZK to $48.00 in a research report on Wednesday, November 16th. Finally, Stephens upped their price objective on shares of Bank OZK from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Monday, October 24th. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $46.44.
Bank OZK Stock Performance
Bank OZK (NASDAQ:OZK – Get Rating) last issued its earnings results on Thursday, October 20th. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.10). The company had revenue of $323.78 million during the quarter, compared to analyst estimates of $305.09 million. Bank OZK had a net margin of 43.58% and a return on equity of 12.72%. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.00 EPS. Equities analysts forecast that Bank OZK will post 4.5 earnings per share for the current fiscal year.
Bank OZK Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 24th. Investors of record on Tuesday, January 17th will be paid a dividend of $0.34 per share. This is a positive change from Bank OZK’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, January 13th. This represents a $1.36 annualized dividend and a yield of 3.27%. Bank OZK’s dividend payout ratio is 30.21%.
Bank OZK Profile
Bank OZK provides various retail and commercial banking services. It accepts various deposit products, including non-interest-bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time deposits. The company also offers real estate, consumer and business purpose, indirect recreational vehicle and marine, commercial and industrial, government guaranteed, agricultural, small business, homebuilder, and affordable housing loans; business aviation and subscription financing services; and mortgage and other lending products.
- Get a free copy of the StockNews.com research report on Bank OZK (OZK)
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