Connor Clark & Lunn Investment Management Ltd. raised its position in Bank OZK (NASDAQ:OZK - Free Report) by 691.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,160 shares of the company's stock after buying an additional 52,562 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.05% of Bank OZK worth $2,679,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. increased its stake in shares of Bank OZK by 73.8% in the 3rd quarter. Assetmark Inc. now owns 968 shares of the company's stock valued at $42,000 after purchasing an additional 411 shares in the last quarter. Natixis Advisors LLC increased its position in shares of Bank OZK by 20.7% in the third quarter. Natixis Advisors LLC now owns 19,228 shares of the company's stock valued at $827,000 after buying an additional 3,303 shares in the last quarter. Quest Partners LLC raised its stake in shares of Bank OZK by 4,174.3% during the 3rd quarter. Quest Partners LLC now owns 58,815 shares of the company's stock worth $2,528,000 after buying an additional 57,439 shares during the period. Caprock Group LLC raised its stake in shares of Bank OZK by 10.5% during the 3rd quarter. Caprock Group LLC now owns 6,805 shares of the company's stock worth $293,000 after buying an additional 645 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Bank OZK during the 3rd quarter valued at approximately $3,691,000. Hedge funds and other institutional investors own 86.18% of the company's stock.
Bank OZK Trading Up 0.4 %
Shares of NASDAQ OZK traded up $0.16 during midday trading on Friday, reaching $44.31. 2,886,602 shares of the stock were exchanged, compared to its average volume of 1,233,205. The stock has a market capitalization of $5.03 billion, a P/E ratio of 7.22 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.02 and a current ratio of 1.03. The company has a 50 day simple moving average of $48.17 and a 200 day simple moving average of $45.91. Bank OZK has a twelve month low of $37.43 and a twelve month high of $53.64.
Bank OZK (NASDAQ:OZK - Get Free Report) last announced its quarterly earnings results on Thursday, January 16th. The company reported $1.56 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 analyst estimates of $407.19 million. Bank OZK had a return on equity of 13.90% and a net margin of 25.83%. The company's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.50 EPS. As a group, equities analysts expect that Bank OZK will post 6.02 earnings per share for the current year.
Bank OZK Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 14th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.79%. This is an increase from Bank OZK's previous quarterly dividend of $0.41. The ex-dividend date was Tuesday, January 14th. Bank OZK's payout ratio is 27.36%.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on OZK shares. Wells Fargo & Company upgraded shares of Bank OZK from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $40.00 to $48.00 in a research report on Tuesday, January 21st. UBS Group assumed coverage on Bank OZK in a report on Tuesday, December 17th. They issued a "neutral" rating and a $51.00 price objective on the stock. Morgan Stanley decreased their target price on Bank OZK from $58.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Finally, Stephens boosted their price target on Bank OZK from $53.00 to $57.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 21st. 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 company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $50.38.
Read Our Latest Research Report on OZK
Bank OZK Company Profile
(
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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