UMB Bank n.a. Grows Stake in Bank OZK (NASDAQ:OZK)

UMB Bank n.a. grew its position in shares of Bank OZK (NASDAQ:OZK) by 2,014.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,480 shares of the company’s stock after purchasing an additional 1,410 shares during the period. UMB Bank n.a.’s holdings in Bank OZK were worth $64,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Choreo LLC bought a new stake in shares of Bank OZK during the 4th quarter worth $277,000. Empowered Funds LLC bought a new stake in shares of Bank OZK during the 4th quarter worth $2,626,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Bank OZK by 76.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 83,631 shares of the company’s stock worth $3,715,000 after acquiring an additional 36,266 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Bank OZK by 31.9% during the 4th quarter. Van ECK Associates Corp now owns 82,829 shares of the company’s stock worth $3,688,000 after acquiring an additional 20,049 shares during the last quarter. Finally, Arcus Capital Partners LLC bought a new stake in shares of Bank OZK during the 4th quarter worth $302,000. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

Bank OZK Stock Performance

Shares of NASDAQ:OZK opened at $44.68 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $43.52 and a 200-day moving average price of $45.56. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 7.28 and a beta of 0.85. Bank OZK has a 12 month low of $35.71 and a 12 month high of $53.64.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings results on Wednesday, April 16th. The company reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.05. The company had revenue of $409.23 million for the quarter, compared to the consensus estimate of $403.05 million. Bank OZK had a return on equity of 13.90% and a net margin of 25.83%. During the same quarter in the previous year, the business earned $1.51 EPS. As a group, equities analysts anticipate that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 14th were paid a $0.43 dividend. This is a positive change from Bank OZK’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, April 14th. This represents a $1.72 dividend on an annualized basis and a yield of 3.85%. Bank OZK’s dividend payout ratio (DPR) is presently 28.20%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on OZK shares. Keefe, Bruyette & Woods dropped their price objective on shares of Bank OZK from $50.00 to $48.00 and set a “market perform” rating for the company in a report on Tuesday, April 22nd. Stephens lowered their price target on shares of Bank OZK from $59.00 to $54.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. Morgan Stanley lowered 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 note on Thursday, March 13th. Finally, Wells Fargo & Company lowered 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. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Bank OZK presently has an average rating of “Hold” and an average price target of $50.86.

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.