Bank OZK (NASDAQ:OZK) Shares Bought by Redmont Wealth Advisors LLC

Redmont Wealth Advisors LLC lifted its holdings in Bank OZK (NASDAQ:OZK) by 36.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,542 shares of the company’s stock after purchasing an additional 4,462 shares during the period. Bank OZK comprises 1.2% of Redmont Wealth Advisors LLC’s holdings, making the stock its 22nd biggest holding. Redmont Wealth Advisors LLC’s holdings in Bank OZK were worth $824,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Lazard Asset Management LLC purchased a new stake in Bank OZK during the first quarter valued at about $25,000. Geneos Wealth Management Inc. boosted its stake in Bank OZK by 94.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 776 shares of the company’s stock worth $33,000 after purchasing an additional 376 shares during the period. Covestor Ltd grew its position in Bank OZK by 56.6% during the 1st quarter. Covestor Ltd now owns 896 shares of the company’s stock worth $38,000 after purchasing an additional 324 shares in the last quarter. Quarry LP raised its stake in Bank OZK by 235.2% during the 1st quarter. Quarry LP now owns 1,106 shares of the company’s stock valued at $38,000 after purchasing an additional 776 shares during the period. Finally, Coppell Advisory Solutions Corp. purchased a new stake in shares of Bank OZK in the fourth quarter valued at $42,000. 86.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on OZK shares. Citigroup decreased their price target on shares of Bank OZK from $62.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. StockNews.com lowered Bank OZK from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. UBS Group lowered Bank OZK from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Wells Fargo & Company reduced their price target on Bank OZK from $41.00 to $39.00 and set an “underweight” rating for the company in a report on Thursday, February 1st. Finally, Truist Financial cut their price objective on shares of Bank OZK from $52.00 to $48.00 and set a “hold” rating on the stock in a research report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Bank OZK has a consensus rating of “Hold” and an average price target of $48.14.

Bank OZK Price Performance

Shares of OZK traded up $0.79 during mid-day trading on Friday, reaching $44.59. The company had a trading volume of 843,455 shares, compared to its average volume of 1,188,563. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $5.05 billion, a P/E ratio of 7.34 and a beta of 1.27. Bank OZK has a twelve month low of $30.72 and a twelve month high of $52.36. The company’s 50-day moving average is $43.34 and its 200-day moving average is $43.15.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings results on Wednesday, April 17th. The company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.07. The firm had revenue of $406.02 million for the quarter, compared to analyst estimates of $396.81 million. Bank OZK had a net margin of 28.54% and a return on equity of 15.10%. During the same period in the previous year, the business earned $1.41 earnings per share. On average, equities analysts anticipate that Bank OZK will post 5.87 EPS for the current year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 19th. Stockholders of record on Friday, April 12th will be paid a $0.39 dividend. This is a boost from Bank OZK’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Thursday, April 11th. Bank OZK’s dividend payout ratio (DPR) is 26.13%.

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.