Geode Capital Management LLC Purchases 15,484 Shares of Bank OZK (NASDAQ:OZK)

Geode Capital Management LLC lifted its holdings in Bank OZK (NASDAQ:OZK - Free Report) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,038,463 shares of the company's stock after buying an additional 15,484 shares during the period. Geode Capital Management LLC owned about 1.80% of Bank OZK worth $90,798,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Kestra Investment Management LLC bought a new stake in Bank OZK during the fourth quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Bank OZK in the 4th quarter worth approximately $27,000. Smartleaf Asset Management LLC raised its holdings in Bank OZK by 176.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 761 shares of the company's stock valued at $34,000 after buying an additional 486 shares during the period. V Square Quantitative Management LLC lifted 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 buying an additional 425 shares during the last quarter. Finally, New Wave Wealth Advisors LLC bought a new stake in Bank OZK in the fourth quarter worth $93,000. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on OZK. Wells Fargo & Company dropped their price target on shares of Bank OZK from $48.00 to $40.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Stephens raised their price target on Bank OZK from $53.00 to $57.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 21st. UBS Group began coverage on Bank OZK in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $51.00 price objective on the stock. Finally, Morgan Stanley lowered their target price on shares of Bank OZK from $58.00 to $54.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, Bank OZK currently has a consensus rating of "Hold" and an average target price of $49.38.

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Bank OZK Stock Up 2.8 %

NASDAQ:OZK traded up $1.09 during mid-day trading on Tuesday, reaching $39.47. The company's stock had a trading volume of 1,262,522 shares, compared to its average volume of 1,323,527. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.16. Bank OZK has a 1 year low of $35.71 and a 1 year high of $53.64. The stock has a fifty day moving average of $45.31 and a 200-day moving average of $45.90. The firm has a market capitalization of $4.48 billion, a PE ratio of 6.43 and a beta of 1.05.

Bank OZK (NASDAQ:OZK - Get Free Report) last released its quarterly earnings data on Thursday, January 16th. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.44 by $0.12. The firm had revenue of $412.34 million for the quarter, compared to the consensus estimate of $407.19 million. Bank OZK had a net margin of 25.83% and a return on equity of 13.90%. The company's quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the firm earned $1.50 earnings per share. Equities research analysts forecast 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 will be paid on Monday, April 21st. Stockholders of record on Monday, April 14th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.36%. This is a positive change from Bank OZK's previous quarterly dividend of $0.42. The ex-dividend date is Monday, April 14th. Bank OZK's payout ratio is presently 28.01%.

Bank OZK Company 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.