PNC Financial Services Group Inc. Has $260,000 Position in Bank OZK (NASDAQ:OZK)

PNC Financial Services Group Inc. raised its position in Bank OZK (NASDAQ:OZK) by 8.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,832 shares of the company’s stock after acquiring an additional 445 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Bank OZK were worth $260,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in OZK. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Bank OZK during the 4th quarter worth about $27,000. Kestra Investment Management LLC acquired a new stake in shares of Bank OZK during the 4th quarter worth about $27,000. Smartleaf Asset Management LLC lifted its stake in shares of Bank OZK by 176.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 761 shares of the company’s stock worth $34,000 after buying an additional 486 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in shares of Bank OZK by 81.3% during the 4th quarter. V Square Quantitative Management LLC now owns 948 shares of the company’s stock worth $42,000 after buying an additional 425 shares during the last quarter. Finally, New Wave Wealth Advisors LLC acquired a new stake in shares of Bank OZK during the 4th quarter worth about $93,000. Institutional investors and hedge funds own 86.18% of the company’s stock.

Bank OZK Price Performance

OZK stock opened at $44.31 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. Bank OZK has a 12 month low of $37.43 and a 12 month high of $53.64. The firm has a market cap of $5.03 billion, a P/E ratio of 7.22 and a beta of 1.23. The company’s 50-day moving average price is $48.23 and its two-hundred day moving average price is $45.94.

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

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 14th were issued a $0.42 dividend. This is a positive change from Bank OZK’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a yield of 3.79%. The ex-dividend date was Tuesday, January 14th. Bank OZK’s dividend payout ratio (DPR) is currently 27.36%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wells Fargo & Company upgraded shares of Bank OZK from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $40.00 to $48.00 in a research note on Tuesday, January 21st. Stephens raised their target price on shares of Bank OZK from $53.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. UBS Group started coverage on shares of Bank OZK in a research report on Tuesday, December 17th. They set a “neutral” rating and a $51.00 price target on the stock. Finally, Morgan Stanley lowered their price target on shares of Bank OZK from $58.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $50.38.

About Bank OZK

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.