Norges Bank bought a new stake in shares of Bank OZK (NASDAQ:OZK - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,192,760 shares of the company's stock, valued at approximately $53,114,000. Norges Bank owned about 1.05% of Bank OZK at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Kestra Investment Management LLC bought a new stake in Bank OZK during the 4th quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Bank OZK during the 4th quarter worth approximately $27,000. Smartleaf Asset Management LLC lifted its position in Bank OZK by 176.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 761 shares of the company's stock valued at $34,000 after purchasing an additional 486 shares during the last quarter. V Square Quantitative Management LLC grew its position in Bank OZK by 81.3% in the fourth quarter. V Square Quantitative Management LLC now owns 948 shares of the company's stock worth $42,000 after acquiring an additional 425 shares in the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new position in Bank OZK during the fourth quarter worth $93,000. Institutional investors own 86.18% of the company's stock.
Bank OZK Stock Up 7.7 %
OZK stock traded up $2.88 during trading on Wednesday, hitting $40.46. 3,003,885 shares of the company's stock traded hands, compared to its average volume of 1,313,973. The firm has a market capitalization of $4.59 billion, a P/E ratio of 6.59 and a beta of 1.05. Bank OZK has a 1 year low of $35.80 and a 1 year high of $53.64. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $46.49 and a two-hundred day simple moving average of $46.00.
Bank OZK (NASDAQ:OZK - Get Free Report) last announced its earnings results on Thursday, January 16th. The company reported $1.56 earnings per share (EPS) for the quarter, beating 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 return on equity of 13.90% and a net margin of 25.83%. The business's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.50 EPS. Sell-side analysts anticipate that Bank OZK will post 6.02 EPS for the current year.
Bank OZK Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 14th will be issued a $0.43 dividend. The ex-dividend date is Monday, April 14th. This is an increase from Bank OZK's previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 4.25%. Bank OZK's payout ratio is currently 28.01%.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on OZK. UBS Group started coverage on Bank OZK in a research note on Tuesday, December 17th. They set a "neutral" rating and a $51.00 price target for the company. Stephens boosted their target price on shares of Bank OZK from $53.00 to $57.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 21st. Morgan Stanley decreased their price objective on shares of Bank OZK from $58.00 to $54.00 and set an "equal weight" rating for the company in a report on Thursday, March 13th. Finally, Wells Fargo & Company dropped their target price on shares of Bank OZK from $48.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $49.38.
Check Out Our Latest Stock Report on Bank OZK
Bank OZK Company Profile
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Free Report)
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.
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