Burns Matteson Capital Management LLC Buys New Position in Bank OZK $OZK

Burns Matteson Capital Management LLC purchased a new position in shares of Bank OZK (NASDAQ:OZK) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,113 shares of the company’s stock, valued at approximately $511,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wasatch Advisors LP boosted its holdings in Bank OZK by 34.9% during the 3rd quarter. Wasatch Advisors LP now owns 7,437,646 shares of the company’s stock worth $379,171,000 after acquiring an additional 1,924,387 shares during the last quarter. Norges Bank purchased a new stake in shares of Bank OZK in the second quarter valued at about $68,960,000. Fairholme Capital Management LLC raised its holdings in shares of Bank OZK by 45.1% in the second quarter. Fairholme Capital Management LLC now owns 916,752 shares of the company’s stock valued at $43,142,000 after purchasing an additional 285,150 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Bank OZK during the third quarter valued at about $13,014,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Bank OZK by 57.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 694,956 shares of the company’s stock valued at $32,705,000 after purchasing an additional 253,001 shares in the last quarter. 86.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OZK has been the subject of a number of recent analyst reports. Piper Sandler set a $62.00 price objective on shares of Bank OZK in a research report on Thursday, January 22nd. Citigroup reissued a “sell” rating on shares of Bank OZK in a research report on Monday, January 5th. Zacks Research upgraded Bank OZK from a “strong sell” rating to a “hold” rating in a research note on Wednesday, January 7th. Morgan Stanley upped their target price on Bank OZK from $57.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Finally, UBS Group reaffirmed a “neutral” rating and set a $51.00 price target on shares of Bank OZK in a research report on Tuesday, January 6th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $57.22.

Bank OZK Price Performance

OZK opened at $45.89 on Wednesday. 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 moving average of $47.03 and a 200 day moving average of $47.37. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $5.13 billion, a P/E ratio of 7.44 and a beta of 0.93.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings data on Tuesday, January 20th. The company reported $1.53 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.03). The company had revenue of $436.29 million during the quarter, compared to the consensus estimate of $434.68 million. Bank OZK had a return on equity of 12.65% and a net margin of 25.50%.During the same period in the prior year, the firm posted $1.56 EPS. On average, research analysts expect that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 20th. Investors of record on Tuesday, January 13th were issued 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 dividend on an annualized basis and a dividend yield of 4.0%. Bank OZK’s payout ratio is presently 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.