Prudential Financial Inc. Boosts Holdings in Bank OZK (NASDAQ:OZK)

Prudential Financial Inc. lifted its holdings in shares of Bank OZK (NASDAQ:OZK - Free Report) by 394.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,533 shares of the company's stock after acquiring an additional 67,420 shares during the period. Prudential Financial Inc. owned approximately 0.07% of Bank OZK worth $3,764,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Bank OZK during the fourth quarter valued at approximately $27,000. Kestra Investment Management LLC purchased a new position in shares of Bank OZK during the 4th quarter valued at $27,000. Smartleaf Asset Management LLC boosted 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 worth $34,000 after purchasing an additional 486 shares during the period. V Square Quantitative Management LLC grew its stake in Bank OZK by 81.3% in the 4th quarter. V Square Quantitative Management LLC now owns 948 shares of the company's stock valued at $42,000 after buying an additional 425 shares in the last quarter. Finally, New Wave Wealth Advisors LLC bought a new stake in shares of Bank OZK during the 4th quarter valued at $93,000. Institutional investors and hedge funds own 86.18% of the company's stock.

Bank OZK Stock Performance

NASDAQ OZK traded down $0.78 during trading hours on Friday, hitting $38.12. 3,118,784 shares of the company's stock traded hands, compared to its average volume of 1,296,061. Bank OZK has a 52 week low of $35.80 and a 52 week high of $53.64. The business's fifty day moving average price is $47.28 and its two-hundred day moving average price is $46.14. 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 firm has a market capitalization of $4.32 billion, a P/E ratio of 6.21 and a beta of 1.05.

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Bank OZK (NASDAQ:OZK - Get Free Report) last issued its earnings results on Thursday, January 16th. The company reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.44 by $0.12. The firm had revenue of $412.34 million during the quarter, compared to analyst estimates of $407.19 million. Bank OZK had a net margin of 25.83% and a return on equity of 13.90%. Bank OZK's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.50 earnings per share. Equities research analysts predict that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 14th will be paid a $0.43 dividend. This is a positive change from Bank OZK's previous quarterly dividend of $0.42. The ex-dividend date is Monday, April 14th. This represents a $1.72 dividend on an annualized basis and a yield of 4.51%. Bank OZK's dividend payout ratio (DPR) is presently 28.01%.

Analysts Set New Price Targets

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

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.