Pearl River Capital LLC lifted its position in shares of Bank OZK (NASDAQ:OZK – Free Report) by 119.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,386 shares of the company’s stock after purchasing an additional 14,370 shares during the quarter. Pearl River Capital LLC’s holdings in Bank OZK were worth $902,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Lazard Asset Management LLC purchased a new position in shares of Bank OZK in the first quarter worth $25,000. Geneos Wealth Management Inc. raised its stake in shares of Bank OZK by 94.0% in the first quarter. Geneos Wealth Management Inc. now owns 776 shares of the company’s stock worth $33,000 after purchasing an additional 376 shares during the last quarter. CWM LLC raised its stake in shares of Bank OZK by 238.8% in the fourth quarter. CWM LLC now owns 813 shares of the company’s stock worth $33,000 after purchasing an additional 573 shares during the last quarter. Covestor Ltd raised its stake in shares of Bank OZK by 56.6% in the first quarter. Covestor Ltd now owns 896 shares of the company’s stock worth $38,000 after purchasing an additional 324 shares during the last quarter. Finally, Coppell Advisory Solutions Corp. purchased a new position in shares of Bank OZK in the fourth quarter worth $42,000. 84.84% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. StockNews.com assumed coverage on Bank OZK in a research report on Thursday, August 17th. They set a “sell” rating for the company. Truist Financial upped their price objective on Bank OZK from $43.00 to $46.00 and gave the company a “hold” rating in a research report on Tuesday, July 25th. Stephens upped their price objective on Bank OZK from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Monday, July 24th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $35.00 price objective on shares of Bank OZK in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $40.50.
Bank OZK Stock Performance
NASDAQ:OZK traded up $0.21 during mid-day trading on Thursday, hitting $40.17. 740,184 shares of the company traded hands, compared to its average volume of 1,610,106. The stock’s fifty day moving average price is $41.30 and its 200-day moving average price is $38.84. Bank OZK has a one year low of $30.72 and a one year high of $49.52. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The firm has a market cap of $5.04 billion, a price-to-earnings ratio of 7.54 and a beta of 1.43.
Bank OZK (NASDAQ:OZK – Get Free Report) last released its quarterly earnings results on Friday, July 21st. The company reported $1.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.01). The company had revenue of $388.81 million for the quarter, compared to the consensus estimate of $374.41 million. Bank OZK had a net margin of 35.47% and a return on equity of 14.60%. The business’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.10 EPS. Research analysts anticipate that Bank OZK will post 5.74 earnings per share for the current fiscal year.
Bank OZK Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 14th were paid a $0.36 dividend. This is a positive change from Bank OZK’s previous quarterly dividend of $0.35. The ex-dividend date was Thursday, July 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.58%. Bank OZK’s dividend payout ratio is 27.17%.
Bank OZK Company Profile
Bank OZK provides various retail and commercial banking services. The company 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. It also offers real estate, consumer and business purpose, indirect recreational vehicle and marine, commercial and industrial, government guaranteed, agricultural equipment, small business, lines of credit, homebuilder, and affordable housing loans; business aviation and subscription financing services; and mortgage and other lending products.
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