New Age Alpha Advisors LLC bought a new position in shares of Bank OZK (NASDAQ:OZK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,392 shares of the company's stock, valued at approximately $285,000.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of Bank OZK during the fourth quarter worth $53,114,000. Wellington Management Group LLP increased its position in Bank OZK by 32.7% during the third quarter. Wellington Management Group LLP now owns 4,223,452 shares of the company's stock worth $181,566,000 after acquiring an additional 1,041,198 shares during the period. State Street Corp raised its stake in Bank OZK by 7.3% in the 3rd quarter. State Street Corp now owns 7,106,907 shares of the company's stock worth $305,526,000 after purchasing an additional 485,172 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Bank OZK in the 4th quarter valued at about $14,077,000. Finally, American Century Companies Inc. grew its position in shares of Bank OZK by 12.3% during the 4th quarter. American Century Companies Inc. now owns 2,176,997 shares of the company's stock worth $96,942,000 after purchasing an additional 238,810 shares in the last quarter. Institutional investors own 86.18% of the company's stock.
Bank OZK Price Performance
NASDAQ:OZK traded down $0.78 during trading hours on Friday, hitting $38.12. The company's stock had a trading volume of 3,118,784 shares, compared to its average volume of 1,296,061. Bank OZK has a twelve month low of $35.80 and a twelve month high of $53.64. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.03 and a quick ratio of 1.02. The stock has a fifty day simple moving average of $47.28 and a 200-day simple moving average of $46.14. The company has a market capitalization of $4.32 billion, a P/E ratio of 6.21 and a beta of 1.05.
Bank OZK (NASDAQ:OZK - Get Free Report) last announced its quarterly 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 company had revenue of $412.34 million for 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%. The firm's revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.50 EPS. On average, analysts anticipate that Bank OZK will post 6.02 EPS for the current fiscal 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 issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, April 14th. This is an increase from Bank OZK's previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a dividend yield of 4.51%. Bank OZK's dividend payout ratio is 28.01%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on OZK shares. Morgan Stanley dropped their price target on shares of Bank OZK from $58.00 to $54.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. UBS Group started coverage on Bank OZK in a research report on Tuesday, December 17th. They set a "neutral" rating and a $51.00 target price for the company. Stephens boosted their price target on Bank OZK from $53.00 to $57.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company raised 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $50.38.
Read Our Latest Analysis on Bank OZK
About Bank OZK
(
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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