Cresset Asset Management LLC Purchases 13,547 Shares of Bank OZK $OZK

Cresset Asset Management LLC increased its position in Bank OZK (NASDAQ:OZK) by 274.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,492 shares of the company’s stock after purchasing an additional 13,547 shares during the period. Cresset Asset Management LLC’s holdings in Bank OZK were worth $943,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in OZK. Root Financial Partners LLC bought a new stake in shares of Bank OZK during the 3rd quarter valued at $27,000. Highline Wealth Partners LLC bought a new position in shares of Bank OZK in the 3rd quarter worth about $28,000. True Wealth Design LLC increased its stake in shares of Bank OZK by 147.0% in the 3rd quarter. True Wealth Design LLC now owns 568 shares of the company’s stock worth $29,000 after acquiring an additional 338 shares in the last quarter. AdvisorNet Financial Inc lifted its position in Bank OZK by 82.2% during the 3rd quarter. AdvisorNet Financial Inc now owns 665 shares of the company’s stock valued at $34,000 after acquiring an additional 300 shares during the period. Finally, Quent Capital LLC purchased a new position in Bank OZK during the 3rd quarter valued at about $35,000. Institutional investors own 86.18% of the company’s stock.

Analysts Set New Price Targets

OZK has been the topic of a number of recent research reports. Zacks Research upgraded shares of Bank OZK from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 7th. Citigroup reiterated a “sell” rating on shares of Bank OZK in a report on Monday, January 5th. TD Cowen dropped their price target on Bank OZK from $56.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, January 22nd. Stephens cut their price target on Bank OZK from $64.00 to $62.00 and set an “overweight” rating on the stock in a research note on Thursday, January 22nd. Finally, UBS Group reaffirmed a “neutral” rating and set a $51.00 price objective on shares of Bank OZK in a research report on Tuesday, January 6th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $57.22.

Bank OZK Stock Down 0.6%

NASDAQ:OZK opened at $44.50 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.03 and a current ratio of 1.02. The firm has a market cap of $4.98 billion, a P/E ratio of 7.21 and a beta of 0.93. Bank OZK has a fifty-two week low of $35.71 and a fifty-two week high of $53.66. The firm has a 50-day simple moving average of $47.97 and a two-hundred day simple moving average of $48.22.

Bank OZK (NASDAQ:OZK) last issued its earnings results on Tuesday, January 20th. The company reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.03). Bank OZK had a return on equity of 12.65% and a net margin of 25.50%.The firm had revenue of $436.29 million during the quarter, compared to the consensus estimate of $434.68 million. During the same quarter in the prior year, the company posted $1.56 EPS. Analysts predict that Bank OZK will post 6.02 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 20th. Investors of record on Tuesday, January 13th were given a $0.46 dividend. This is a boost from Bank OZK’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Tuesday, January 13th. This represents a $1.84 annualized dividend and a yield of 4.1%. Bank OZK’s payout ratio is currently 29.82%.

About Bank OZK

Bank OZK, formerly known as Bank of the Ozarks, is a regional commercial bank headquartered in Little Rock, Arkansas. Established in 1903, the bank offers a full suite of banking products and services to both individual and corporate clients. Through a combination of organic growth and targeted acquisitions, Bank OZK has built a diversified lending portfolio and a strong deposit franchise.

The bank’s core operations focus on commercial real estate lending, including acquisition, development and construction financing.