Cetera Investment Advisers Boosts Stock Position in Bank OZK (NASDAQ:OZK)

Cetera Investment Advisers raised its holdings in Bank OZK (NASDAQ:OZK) by 28.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,302 shares of the company’s stock after purchasing an additional 6,774 shares during the quarter. Cetera Investment Advisers’ holdings in Bank OZK were worth $1,242,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in OZK. Point72 Asset Management L.P. acquired a new stake in shares of Bank OZK during the second quarter worth $10,029,000. Quarry LP increased its stake in shares of Bank OZK by 373.4% in the second quarter. Quarry LP now owns 1,690 shares of the company’s stock worth $69,000 after buying an additional 1,333 shares during the last quarter. Creative Planning raised its stake in Bank OZK by 25.9% during the second quarter. Creative Planning now owns 19,431 shares of the company’s stock valued at $797,000 after buying an additional 3,999 shares in the last quarter. Algert Global LLC lifted its stake in Bank OZK by 28.9% during the second quarter. Algert Global LLC now owns 198,539 shares of the company’s stock worth $8,140,000 after purchasing an additional 44,542 shares during the last quarter. Finally, Lighthouse Investment Partners LLC bought a new stake in shares of Bank OZK during the 2nd quarter valued at about $210,000. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Bank OZK Stock Up 2.2 %

OZK stock opened at $45.66 on Thursday. The business has a 50-day simple moving average of $42.01 and a 200 day simple moving average of $43.00. The company has a market cap of $5.18 billion, a PE ratio of 7.65 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 has a 52 week low of $34.76 and a 52 week high of $52.36.

Bank OZK (NASDAQ:OZK) last issued its earnings results on Wednesday, July 17th. The company reported $1.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.52. The business had revenue of $416.78 million during the quarter, compared to analysts’ expectations of $414.39 million. Bank OZK had a return on equity of 14.50% and a net margin of 27.04%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.47 EPS. Sell-side analysts anticipate that Bank OZK will post 6 EPS 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. Investors of record on Friday, October 11th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend is Friday, October 11th. This is an increase from Bank OZK’s previous quarterly dividend of $0.40. Bank OZK’s dividend payout ratio (DPR) is currently 27.47%.

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.