Raymond James Financial Inc. Takes Position in Bank OZK (NASDAQ:OZK)

Raymond James Financial Inc. purchased a new position in shares of Bank OZK (NASDAQ:OZK - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 316,120 shares of the company's stock, valued at approximately $14,077,000. Raymond James Financial Inc. owned 0.28% of Bank OZK as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Kestra Investment Management LLC acquired a new position in shares of Bank OZK in the fourth quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Bank OZK in the fourth quarter valued at approximately $27,000. Smartleaf Asset Management LLC increased its holdings in shares of Bank OZK by 176.7% in 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 period. V Square Quantitative Management LLC increased its holdings in shares of Bank OZK by 81.3% in the fourth quarter. V Square Quantitative Management LLC now owns 948 shares of the company's stock valued at $42,000 after purchasing an additional 425 shares during the period. Finally, Assetmark Inc. increased its holdings in shares of Bank OZK by 73.8% in the third quarter. Assetmark Inc. now owns 968 shares of the company's stock valued at $42,000 after purchasing an additional 411 shares during the period. Institutional investors and hedge funds own 86.18% of the company's stock.

Bank OZK Price Performance

OZK traded up $0.16 during trading on Friday, reaching $44.31. 2,886,602 shares of the stock were exchanged, compared to its average volume of 1,231,689. The business's 50 day moving average price is $48.23 and its two-hundred day moving average price is $45.92. 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 company has a market capitalization of $5.03 billion, a price-to-earnings ratio of 7.22 and a beta of 1.23. Bank OZK has a 1 year low of $37.43 and a 1 year high of $53.64.

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

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 14th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.79%. This is an increase from Bank OZK's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Tuesday, January 14th. Bank OZK's payout ratio is presently 27.36%.

Wall Street Analysts Forecast Growth

OZK has been the topic of a number of recent research reports. Stephens boosted their target price on Bank OZK from $53.00 to $57.00 and gave the company an "equal weight" rating in a report on Tuesday, January 21st. UBS Group began coverage on Bank OZK in a report on Tuesday, December 17th. They issued a "neutral" rating and a $51.00 target price on the stock. Morgan Stanley dropped their price objective on Bank OZK from $58.00 to $54.00 and set an "equal weight" rating on the stock in a report on Thursday, March 13th. Finally, Wells Fargo & Company raised 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 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 company's stock. According to data from MarketBeat.com, Bank OZK currently has an average rating of "Hold" and an average price target of $50.38.

About Bank OZK

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.