Bank OZK (NASDAQ:OZK) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its stake in Bank OZK (NASDAQ:OZK) by 16.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 72,865 shares of the company’s stock after acquiring an additional 10,229 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.06% of Bank OZK worth $3,166,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. O Shaughnessy Asset Management LLC increased its stake in shares of Bank OZK by 1.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,184 shares of the company’s stock worth $498,000 after acquiring an additional 193 shares during the last quarter. Tidal Investments LLC increased its stake in shares of Bank OZK by 1.0% in the 4th quarter. Tidal Investments LLC now owns 21,575 shares of the company’s stock worth $961,000 after acquiring an additional 205 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Bank OZK by 0.5% in the 4th quarter. Bank of Montreal Can now owns 46,832 shares of the company’s stock worth $2,085,000 after acquiring an additional 241 shares during the last quarter. Horrell Capital Management Inc. increased its stake in shares of Bank OZK by 0.3% in the 4th quarter. Horrell Capital Management Inc. now owns 106,878 shares of the company’s stock worth $4,759,000 after acquiring an additional 304 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Bank OZK by 1.0% in the 4th quarter. Arizona State Retirement System now owns 31,253 shares of the company’s stock worth $1,392,000 after acquiring an additional 305 shares during the last quarter. 86.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OZK has been the subject of a number of recent research reports. Morgan Stanley cut their target price on 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. Stephens cut their price objective on Bank OZK from $59.00 to $54.00 and set an “equal weight” rating for the company in a research report on Monday, April 21st. Keefe, Bruyette & Woods cut their price objective on Bank OZK from $50.00 to $48.00 and set a “market perform” rating for the company in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company cut their price objective on Bank OZK from $48.00 to $40.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $50.86.

Bank OZK Stock Performance

Shares of Bank OZK stock opened at $47.16 on Friday. The business has a 50-day moving average of $44.80 and a 200 day moving average of $45.38. Bank OZK has a 12 month low of $35.71 and a 12 month high of $53.64. The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of 7.73 and a beta of 0.85. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.02 and a quick ratio of 1.02.

Bank OZK (NASDAQ:OZK) last announced its earnings results on Wednesday, April 16th. The company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.05. Bank OZK had a return on equity of 13.46% and a net margin of 25.66%. The company had revenue of $409.23 million during the quarter, compared to analysts’ expectations of $403.05 million. During the same period last year, the business posted $1.51 EPS. As a group, sell-side analysts forecast 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 Monday, April 21st. Investors of record on Monday, April 14th were issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 3.65%. This is a boost from Bank OZK’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Monday, April 14th. Bank OZK’s dividend payout ratio (DPR) is 28.20%.

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.