Panagora Asset Management Inc. Buys New Position in Bank OZK (NASDAQ:OZK)

Panagora Asset Management Inc. acquired a new stake in Bank OZK (NASDAQ:OZK) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,386 shares of the company’s stock, valued at approximately $262,000.

Several other hedge funds also recently modified their holdings of OZK. PSI Advisors LLC raised its position in shares of Bank OZK by 20,933.3% during the second quarter. PSI Advisors LLC now owns 631 shares of the company’s stock valued at $26,000 after buying an additional 628 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Bank OZK during the 1st quarter worth approximately $29,000. Principal Securities Inc. bought a new stake in shares of Bank OZK during the fourth quarter valued at approximately $31,000. Versant Capital Management Inc raised its stake in shares of Bank OZK by 423.0% in the second quarter. Versant Capital Management Inc now owns 978 shares of the company’s stock valued at $40,000 after purchasing an additional 791 shares in the last quarter. Finally, Pathway Financial Advisers LLC bought a new position in Bank OZK in the first quarter worth $60,000. 86.18% of the stock is owned by institutional investors.

Bank OZK Trading Down 2.0 %

OZK stock opened at $41.76 on Thursday. The business has a fifty day moving average price of $42.85 and a 200 day moving average price of $43.29. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.02 and a quick ratio of 1.02. Bank OZK has a fifty-two week low of $34.76 and a fifty-two week high of $52.36. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 6.99 and a beta of 1.17.

Bank OZK (NASDAQ:OZK) last announced its earnings results on Wednesday, July 17th. The company reported $1.52 EPS for the quarter, hitting the consensus estimate of $1.52. Bank OZK had a return on equity of 14.50% and a net margin of 27.04%. The company had revenue of $416.78 million for the quarter, compared to analysts’ expectations of $414.39 million. During the same quarter in the prior year, the business earned $1.47 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts expect that Bank OZK will post 6.01 EPS for the current fiscal year.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 12th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, July 12th. This is an increase from Bank OZK’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.83%. Bank OZK’s payout ratio is currently 26.80%.

Wall Street Analyst Weigh In

OZK has been the subject of a number of recent research reports. Wells Fargo & Company dropped their price objective on shares of Bank OZK from $39.00 to $35.00 and set an “underweight” rating for the company in a research note on Thursday, June 6th. Stephens restated an “equal weight” rating and set a $50.00 price target on shares of Bank OZK in a research note on Thursday, July 18th. Truist Financial upped their price objective on Bank OZK from $41.00 to $49.00 and gave the company a “hold” rating in a research note on Monday, July 22nd. Morgan Stanley raised their target price on Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Finally, Citigroup cut Bank OZK from a “buy” rating to a “sell” rating and lowered their price target for the company from $57.00 to $37.00 in a research report on Wednesday, May 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $46.71.

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.