Bank OZK, a community focused bank, Vanguard, Personalized Indexing Management LLC purchased a new position in Bank OZK’s shares during the first quarter. This development was indicated by its latest filing with the Securities and Exchange Commission (SEC). The fund purchased 17,148 shares of the company’s stock, valued at approximately $586,000.
In recent times, several other significant investors have also made changes to their ownership of the company. Lazard Asset Management LLC initiated a new holding of Bank OZK shares in the first quarter, with a value of $25,000. CWM LLC significantly increased its ownership of Bank OZK shares by 238.8% in the fourth quarter. As a result, CWM LLC now holds 813 shares of the company’s stock, valued at $33,000, following the acquisition of an additional 573 shares in the last quarter.
In Wealth Management, Geneos Inc. boosted its ownership of Bank OZK shares by 94.0% in the first quarter, currently holding 776 shares valued at $33,000 after obtaining an extra 376 shares in the last quarter. Covestor Ltd enhanced its ownership of Bank OZK shares by 56.6% in the first quarter. Covestor Ltd now possesses 896 shares of the company’s stock valued at $38,000, after acquiring an additional 324 shares in the last quarter.
Lastly, Coppell Advisory Solutions Corp. acquired a new stake in Bank OZK during the fourth quarter, valued at approximately $42,000. Currently, institutional investors and hedge funds collectively hold 84.84% of the company’s stock.
Bank OZK’s Trading Has Shown a Decline of 1.2%
At the beginning of the week, NASDAQ OZK started trading at $39.25. The stock has a market capitalization of $4.92 billion, with a price-to-earnings ratio of 7.41 and a beta of 1.43. The stock’s 50-day moving average is $41.28, while its two-hundred-day moving average is $38.92.
The company’s financial structure includes a debt-to-equity ratio of 0.35, a quick ratio of 1.02, and a current ratio of 1.03. Over the past year, Bank OZK’s stock price has ranged from a low of $30.72 to a high of $49.52.
Bank OZK recently released its quarterly earnings data on Friday, July 21st. In this report, the company’s earnings per share (EPS) for the quarter were $1.47, which slightly missed analysts’ agreement estimates of $1.48 by ($0.01).
The company generated revenue of $388.81 million during the quarter, exceeding analyst estimates of $374.41 million. Bank OZK showcased strong financial performance with a net margin of 35.47% and a return on equity of 14.60%. In comparison to the same quarter in the prior year, the company’s quarterly revenue displayed a 33.1% increase. In the corresponding period last year, the company had earnings per share of $1.10. Analysts collectively anticipate that Bank OZK will achieve earnings per share of 5.74 for the current fiscal year.
Dividend Increase and Analyst Ratings for Bank OZK
Bank OZK also announced a dividend increase. The company’s recent quarterly dividend, allocated on Friday, July 21st, amounted to $0.36 per share for shareholders of record on Friday, July 14th. This is an improvement from the company’s previous quarterly dividend of $0.35, resulting in an annualized dividend of $1.44 and a dividend yield of 3.67%. The ex-dividend date was Thursday, July 13th. The current dividend payout ratio for Bank OZK is 27.17%.
Regarding analyst assessments, Many equity analysts have recently evaluated the company. On Monday, July 24th, Morgan Stanley confirmed an “equal weight” rating and assigned a target price of $35.00 for Bank OZK’s shares in a research report. On Thursday, August 17th, StockNews initiated coverage on Bank OZK and rated the company as a “sell.”
In a research report on Tuesday, July 25th, Truist Financial raised their target price for Bank OZK from $43.00 to $46.00 while maintaining a “hold” rating on the stock. Lastly, on Monday, July 24th, Stephens increased their target price for Bank OZK from $45.00 to $48.00 and assigned an “equal weight” rating to the stock in a research report.
At present, one equities research analyst has designated the stock with a “sell” rating, five have assigned a “hold” rating, and one has provided a “buy” rating for the company’s stock. According to data sourced from MarketBeat.com, the company currently maintains an average rating of “Hold,” with a consensus price target of $40.50.
Conclusion
Bank OZK, a community bank, acquired 17,148 of its own shares in Q1, confirmed by an SEC filing. Other investors made changes too. Lazard Asset Management LLC started a new shareholding, CWM LLC increased their stake, and Geneos Wealth Management Inc. boosted their holdings.
Bank OZK’s trading decreased by 1.2%. On NASDAQ, the stock started at $39.25. Quarterly earnings showed $1.47 EPS, slightly below estimates. The company also raised its dividend. Analysts’ views on Bank OZK vary, with an average “Hold” rating and $40.50 target agreement.
