Creative Planning Boosts Stock Holdings in Bank OZK (NASDAQ:OZK)

Creative Planning lifted its stake in Bank OZK (NASDAQ:OZK) by 25.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,431 shares of the company’s stock after purchasing an additional 3,999 shares during the period. Creative Planning’s holdings in Bank OZK were worth $797,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in shares of Bank OZK by 291.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,371,892 shares of the company’s stock valued at $95,848,000 after buying an additional 1,765,974 shares during the period. Millennium Management LLC lifted its stake in Bank OZK by 196.4% in the second quarter. Millennium Management LLC now owns 1,365,393 shares of the company’s stock worth $55,981,000 after acquiring an additional 904,782 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Bank OZK by 483.9% in the 2nd quarter. Victory Capital Management Inc. now owns 980,358 shares of the company’s stock valued at $40,195,000 after purchasing an additional 812,464 shares during the last quarter. Berkley W R Corp purchased a new stake in shares of Bank OZK in the 2nd quarter valued at approximately $24,600,000. Finally, Vanguard Group Inc. raised its holdings in shares of Bank OZK by 4.4% in the 4th quarter. Vanguard Group Inc. now owns 12,028,779 shares of the company’s stock valued at $599,394,000 after purchasing an additional 502,005 shares in the last quarter. 86.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OZK has been the subject of a number of analyst reports. Truist Financial lowered their target price on shares of Bank OZK from $49.00 to $48.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Stephens reiterated an “equal weight” rating and issued a $50.00 price objective on shares of Bank OZK in a report on Thursday, July 18th. Raymond James lowered 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 report on Thursday, July 18th. Finally, Morgan Stanley raised their price objective on shares of Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, Bank OZK currently has an average rating of “Hold” and an average target price of $46.57.

Bank OZK Stock Performance

Shares of Bank OZK stock opened at $43.66 on Friday. The firm’s fifty day simple moving average is $41.78 and its 200-day simple moving average is $43.02. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 7.25 and a beta of 1.17. Bank OZK has a 12 month low of $34.76 and a 12 month high of $52.36. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.02 and a quick ratio of 1.02.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $1.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.52. Bank OZK had a net margin of 27.04% and a return on equity of 14.50%. The company had revenue of $416.78 million for the quarter, compared to the consensus estimate of $414.39 million. During the same period last year, the firm posted $1.47 EPS. Bank OZK’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities analysts forecast that Bank OZK will post 6 earnings per share for the current year.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, October 11th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.76%. This is a boost from Bank OZK’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, October 11th. Bank OZK’s dividend payout ratio (DPR) is presently 26.58%.

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.