Choreo LLC Takes $277,000 Position in Bank OZK (NASDAQ:OZK)

Choreo LLC purchased a new position in Bank OZK (NASDAQ:OZK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,220 shares of the company’s stock, valued at approximately $277,000.

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

Bank OZK Price Performance

OZK stock opened at $51.86 on Friday. The business’s fifty day moving average price is $47.49 and its 200 day moving average price is $45.24. Bank OZK has a 12-month low of $37.43 and a 12-month high of $53.64. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $5.88 billion, a PE ratio of 8.45 and a beta of 1.20.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings results on Thursday, January 16th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.12. The business had revenue of $412.34 million for the quarter, compared to analysts’ expectations of $407.19 million. Bank OZK had a net margin of 25.83% and a return on equity of 13.90%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.50 earnings per share. On average, sell-side analysts anticipate that Bank OZK will post 6.02 EPS for the current 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 given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend was Tuesday, January 14th. This is a boost from Bank OZK’s previous quarterly dividend of $0.41. Bank OZK’s dividend payout ratio (DPR) is currently 27.36%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on OZK shares. Piper Sandler increased their price target on shares of Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Truist Financial lowered their price objective on Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company in a research report on Monday, October 21st. UBS Group assumed coverage on Bank OZK in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 target price on the stock. Stephens increased their price target on Bank OZK from $53.00 to $57.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, Wells Fargo & Company upgraded shares of Bank OZK from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $40.00 to $48.00 in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $50.00.

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.