Allspring Global Investments Holdings LLC Buys 7,354 Shares of Bank OZK (NASDAQ:OZK)

Allspring Global Investments Holdings LLC increased its stake in Bank OZK (NASDAQ:OZK) by 33.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,497 shares of the company’s stock after buying an additional 7,354 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Bank OZK were worth $1,470,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of OZK. Fifth Third Bancorp lifted its holdings in shares of Bank OZK by 25.5% in the 3rd quarter. Fifth Third Bancorp now owns 1,487 shares of the company’s stock worth $55,000 after acquiring an additional 302 shares during the last quarter. National Bank of Canada FI raised its position in Bank OZK by 17.9% in the 3rd quarter. National Bank of Canada FI now owns 4,790 shares of the company’s stock worth $173,000 after purchasing an additional 727 shares during the period. KG&L Capital Management LLC bought a new stake in Bank OZK in the third quarter worth about $213,000. MQS Management LLC purchased a new position in shares of Bank OZK during the third quarter valued at approximately $219,000. Finally, Envestnet Portfolio Solutions Inc. bought a new position in shares of Bank OZK during the third quarter valued at approximately $228,000. 86.18% of the stock is owned by hedge funds and other institutional investors.

Bank OZK Price Performance

Shares of OZK opened at $45.18 on Tuesday. The stock has a market capitalization of $5.11 billion, a PE ratio of 7.57 and a beta of 1.27. The company has a 50 day moving average price of $43.46 and a 200-day moving average price of $43.39. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.03 and a current ratio of 1.01. Bank OZK has a fifty-two week low of $30.72 and a fifty-two week high of $52.36.

Bank OZK (NASDAQ:OZK) last posted its earnings results on Thursday, April 18th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.07. The company had revenue of $406.02 million during the quarter, compared to analyst estimates of $396.81 million. Bank OZK had a return on equity of 14.84% and a net margin of 28.54%. During the same quarter in the prior year, the business earned $1.41 earnings per share. Equities analysts predict that Bank OZK will post 5.89 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 19th. Shareholders of record on Friday, April 12th were issued a $0.39 dividend. The ex-dividend date was Thursday, April 11th. This is an increase from Bank OZK’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a yield of 3.45%. Bank OZK’s payout ratio is currently 26.13%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Raymond James upgraded Bank OZK from a “market perform” rating to an “outperform” rating and set a $58.00 price objective for the company in a report on Friday, January 5th. UBS Group cut shares of Bank OZK from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Citigroup decreased their price objective on shares of Bank OZK from $62.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Morgan Stanley restated an “equal weight” rating and issued a $48.00 target price on shares of Bank OZK in a research note on Monday. Finally, StockNews.com lowered shares of Bank OZK from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $48.25.

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.