Bank OZK (NASDAQ:OZK) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its holdings in Bank OZK (NASDAQ:OZK) by 13.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,614 shares of the company’s stock after purchasing an additional 782 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Bank OZK were worth $287,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. lifted its stake in Bank OZK by 4.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,693 shares of the company’s stock valued at $1,029,000 after buying an additional 1,086 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Bank OZK by 55.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 129,980 shares of the company’s stock valued at $5,639,000 after buying an additional 46,349 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Bank OZK by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 1,127,576 shares of the company’s stock valued at $48,993,000 after buying an additional 23,492 shares during the last quarter. GAMMA Investing LLC lifted its stake in Bank OZK by 5,021.2% in the first quarter. GAMMA Investing LLC now owns 243,668 shares of the company’s stock valued at $10,587,000 after buying an additional 238,910 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in Bank OZK by 1.3% in the fourth quarter. Deutsche Bank AG now owns 34,815 shares of the company’s stock valued at $1,550,000 after buying an additional 455 shares during the last quarter. Institutional investors and hedge funds own 86.18% of the company’s stock.

Analyst Ratings Changes

OZK has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods cut their price objective on shares of Bank OZK from $50.00 to $48.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 22nd. Stephens cut their price objective on shares of Bank OZK from $59.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Wells Fargo & Company lifted their price objective on shares of Bank OZK from $48.00 to $49.00 and gave the company an “equal weight” rating in a research note on Monday, July 21st. Finally, Raymond James Financial upgraded shares of Bank OZK from a “market perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a research note on Tuesday, July 8th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $52.88.

Bank OZK Price Performance

Shares of Bank OZK stock opened at $49.32 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.23. The company’s 50-day moving average price is $48.95 and its two-hundred day moving average price is $46.41. Bank OZK has a 52 week low of $35.71 and a 52 week high of $53.64. The stock has a market cap of $5.61 billion, a PE ratio of 8.01 and a beta of 0.86.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings results on Thursday, July 17th. The company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.51 by $0.07. Bank OZK had a net margin of 25.83% and a return on equity of 13.24%. The firm had revenue of $428.04 million for the quarter, compared to analysts’ expectations of $423.41 million. During the same period in the previous year, the business earned $1.52 earnings per share. As a group, sell-side analysts anticipate that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Friday, July 11th were paid a dividend of $0.44 per share. This is a boost from Bank OZK’s previous quarterly dividend of $0.43. This represents a $1.76 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Friday, July 11th. Bank OZK’s payout ratio is currently 28.57%.

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.