City Center Advisors LLC Acquires New Holdings in Bank OZK (NASDAQ:OZK)

City Center Advisors LLC bought a new position in shares of Bank OZK (NASDAQ:OZK) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,669 shares of the company’s stock, valued at approximately $287,000.

Other institutional investors also recently modified their holdings of the company. Tidal Investments LLC boosted its holdings in Bank OZK by 4.0% in the first quarter. Tidal Investments LLC now owns 5,491 shares of the company’s stock valued at $250,000 after acquiring an additional 210 shares during the last quarter. HB Wealth Management LLC increased its position in shares of Bank OZK by 3.9% during the first quarter. HB Wealth Management LLC now owns 6,607 shares of the company’s stock worth $300,000 after buying an additional 249 shares during the period. Personal CFO Solutions LLC raised its stake in Bank OZK by 4.0% during the fourth quarter. Personal CFO Solutions LLC now owns 8,465 shares of the company’s stock worth $422,000 after buying an additional 329 shares during the last quarter. Evergreen Capital Management LLC lifted its holdings in Bank OZK by 8.3% in the second quarter. Evergreen Capital Management LLC now owns 5,079 shares of the company’s stock valued at $208,000 after buying an additional 388 shares during the period. Finally, Naples Global Advisors LLC boosted its position in Bank OZK by 2.5% during the second quarter. Naples Global Advisors LLC now owns 16,550 shares of the company’s stock valued at $679,000 after acquiring an additional 400 shares during the last quarter. 86.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OZK has been the topic of a number of research reports. Raymond James downgraded shares of Bank OZK from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. StockNews.com raised Bank OZK from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Morgan Stanley increased their price target on Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Stephens restated an “equal weight” rating and set a $50.00 price objective on shares of Bank OZK in a report on Thursday, July 18th. Finally, Truist Financial cut their target price on Bank OZK from $49.00 to $48.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat, Bank OZK presently has an average rating of “Hold” and an average price target of $46.57.

Bank OZK Stock Down 0.3 %

Shares of NASDAQ:OZK opened at $42.11 on Tuesday. The business’s 50 day moving average is $42.03 and its 200 day moving average is $43.05. Bank OZK has a 12-month low of $34.76 and a 12-month high of $52.36. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 7.05 and a beta of 1.17. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.17.

Bank OZK (NASDAQ:OZK) last posted its earnings results on Wednesday, July 17th. The company reported $1.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.52. The firm had revenue of $416.78 million during the quarter, compared to analyst estimates of $414.39 million. Bank OZK had a net margin of 27.04% and a return on equity of 14.50%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.47 EPS. On average, sell-side analysts forecast that Bank OZK will post 6.01 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 11th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Friday, October 11th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 3.89%. Bank OZK’s payout ratio is presently 26.80%.

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.