Bank OZK $OZK Stock Position Raised by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS lifted its stake in shares of Bank OZK (NASDAQ:OZK) by 4.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,600 shares of the company’s stock after acquiring an additional 1,200 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Bank OZK were worth $1,393,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of OZK. CX Institutional acquired a new position in Bank OZK during the first quarter valued at $30,000. Summit Securities Group LLC acquired a new stake in Bank OZK during the 1st quarter worth about $32,000. Brooklyn Investment Group boosted its position in Bank OZK by 1,114.3% during the 1st quarter. Brooklyn Investment Group now owns 1,105 shares of the company’s stock worth $48,000 after acquiring an additional 1,014 shares during the period. Parallel Advisors LLC boosted its position in Bank OZK by 70.8% during the 2nd quarter. Parallel Advisors LLC now owns 1,124 shares of the company’s stock worth $53,000 after acquiring an additional 466 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in Bank OZK by 1,137.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,535 shares of the company’s stock worth $72,000 after acquiring an additional 1,411 shares during the period. Institutional investors and hedge funds own 86.18% of the company’s stock.

Bank OZK Price Performance

Shares of NASDAQ:OZK opened at $50.26 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23. Bank OZK has a 1 year low of $35.71 and a 1 year high of $53.66. The business has a fifty day simple moving average of $51.15 and a 200 day simple moving average of $47.53. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of 8.16 and a beta of 0.88.

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

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Tuesday, October 14th will be given a $0.45 dividend. This is an increase from Bank OZK’s previous quarterly dividend of $0.44. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, October 14th. Bank OZK’s payout ratio is presently 28.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on OZK shares. Stephens upgraded Bank OZK from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $58.00 to $65.00 in a research report on Wednesday, August 20th. TD Cowen started coverage on Bank OZK in a research report on Thursday, September 25th. They set a “buy” rating and a $67.00 price objective for the company. Weiss Ratings restated a “buy (b)” rating on shares of Bank OZK in a research report on Wednesday, October 8th. Morgan Stanley raised their price objective on Bank OZK from $55.00 to $63.00 and gave the stock an “underperform” rating in a research report on Monday, September 29th. Finally, Wells Fargo & Company increased their price objective on Bank OZK from $49.00 to $50.00 and gave the stock an “equal weight” rating in a report on Monday, September 29th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $57.80.

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.