Sabal Trust CO purchased a new position in Bank OZK (NASDAQ:OZK – Get Rating) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,617 shares of the company's stock, valued at approximately $248,000.
A number of other large investors have also added to or reduced their stakes in OZK. Lazard Asset Management LLC purchased a new stake in shares of Bank OZK in the 1st quarter worth about $25,000. Geneos Wealth Management Inc. lifted its position in shares of Bank OZK by 94.0% in the 1st 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 period. Quent Capital LLC lifted its position in shares of Bank OZK by 288.7% in the 1st quarter. Quent Capital LLC now owns 789 shares of the company's stock worth $34,000 after purchasing an additional 586 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Bank OZK in the 1st quarter worth about $35,000. Finally, Covestor Ltd lifted its position in shares of Bank OZK by 56.6% in the 1st quarter. Covestor Ltd now owns 896 shares of the company's stock worth $38,000 after purchasing an additional 324 shares during the period. Institutional investors own 78.68% of the company's stock.
Get Bank OZK alerts:Bank OZK Stock Performance
Shares of OZK stock opened at $39.52 on Monday. The company has a 50 day moving average price of $40.88 and a 200-day moving average price of $40.32. Bank OZK has a 52 week low of $34.79 and a 52 week high of $51.39. The firm has a market capitalization of $4.96 billion, a PE ratio of 9.21 and a beta of 1.44. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.23.
Bank OZK (NASDAQ:OZK – Get Rating) last announced its quarterly earnings results on Thursday, July 21st. The company reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $1.02 by $0.08. Bank OZK had a net margin of 45.73% and a return on equity of 12.42%. The firm had revenue of $292.11 million during the quarter, compared to analyst estimates of $285.40 million. During the same period in the previous year, the business posted $1.16 earnings per share. As a group, equities research analysts expect that Bank OZK will post 4.49 earnings per share for the current year.Bank OZK Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, July 22nd. Investors of record on Friday, July 15th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.24%. This is a positive change from Bank OZK's previous quarterly dividend of $0.31. The ex-dividend date was Thursday, July 14th. Bank OZK's payout ratio is 29.84%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on OZK shares. UBS Group dropped their target price on shares of Bank OZK from $48.00 to $44.00 and set a "neutral" rating for the company in a research report on Friday, July 29th. Truist Financial lifted their price target on shares of Bank OZK from $42.00 to $45.00 and gave the company a "hold" rating in a research report on Wednesday, September 14th. Raymond James cut shares of Bank OZK from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 7th. Wells Fargo & Company cut shares of Bank OZK from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $58.00 to $42.00 in a research report on Thursday, July 7th. Finally, Stephens lifted their price target on shares of Bank OZK to $45.00 in a research report on Tuesday, July 26th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $47.88.
About Bank OZK
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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.
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