Kestra Investment Management LLC Buys Shares of 598 Bank OZK (NASDAQ:OZK)

Kestra Investment Management LLC purchased a new position in shares of Bank OZK (NASDAQ:OZK) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 598 shares of the company’s stock, valued at approximately $27,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Bank OZK by 7.3% in the third quarter. State Street Corp now owns 7,106,907 shares of the company’s stock valued at $305,526,000 after acquiring an additional 485,172 shares in the last quarter. Wellington Management Group LLP increased its position in Bank OZK by 32.7% during the 3rd quarter. Wellington Management Group LLP now owns 4,223,452 shares of the company’s stock worth $181,566,000 after purchasing an additional 1,041,198 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Bank OZK by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,941,431 shares of the company’s stock worth $169,442,000 after buying an additional 112,648 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Bank OZK by 6.7% in the third quarter. Geode Capital Management LLC now owns 2,022,979 shares of the company’s stock valued at $86,989,000 after buying an additional 126,352 shares in the last quarter. Finally, Captrust Financial Advisors grew its holdings in Bank OZK by 124.6% during the third quarter. Captrust Financial Advisors now owns 1,698,856 shares of the company’s stock worth $73,034,000 after acquiring an additional 942,309 shares during the period. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on OZK shares. Wells Fargo & Company upgraded shares of Bank OZK from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $40.00 to $48.00 in a research report on Tuesday, January 21st. Stephens lifted their price target on shares of Bank OZK from $53.00 to $57.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Finally, UBS Group initiated coverage on Bank OZK in a report on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Bank OZK presently has a consensus rating of “Hold” and a consensus price target of $50.00.

Bank OZK Stock Performance

NASDAQ OZK opened at $47.45 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.16. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of 7.73 and a beta of 1.20. Bank OZK has a fifty-two week low of $37.43 and a fifty-two week high of $53.64. The business has a fifty day moving average of $47.78 and a 200-day moving average of $45.46.

Bank OZK (NASDAQ:OZK) last released its earnings results on Thursday, January 16th. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.12. Bank OZK had a net margin of 25.83% and a return on equity of 13.90%. The company had revenue of $412.34 million for the quarter, compared to analyst estimates of $407.19 million. During the same period in the prior year, the firm earned $1.50 EPS. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, analysts predict that Bank OZK will post 6.02 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 14th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend was Tuesday, January 14th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.41. Bank OZK’s dividend payout ratio is currently 27.36%.

Bank OZK Company 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.