Kestra Investment Management LLC Buys New Holdings in Bank OZK (NASDAQ:OZK)

Kestra Investment Management LLC purchased a new position in shares of Bank OZK (NASDAQ:OZK) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 598 shares of the company’s stock, valued at approximately $27,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp grew its stake in Bank OZK by 7.3% during the third quarter. State Street Corp now owns 7,106,907 shares of the company’s stock worth $305,526,000 after buying an additional 485,172 shares during the period. Wellington Management Group LLP raised its stake in shares of Bank OZK by 32.7% in the 3rd quarter. Wellington Management Group LLP now owns 4,223,452 shares of the company’s stock valued at $181,566,000 after acquiring an additional 1,041,198 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Bank OZK by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,941,431 shares of the company’s stock valued at $169,442,000 after acquiring an additional 112,648 shares in the last quarter. Geode Capital Management LLC boosted its position in Bank OZK by 6.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,022,979 shares of the company’s stock worth $86,989,000 after purchasing an additional 126,352 shares during the period. Finally, Captrust Financial Advisors increased its holdings in Bank OZK by 124.6% in the 3rd quarter. Captrust Financial Advisors now owns 1,698,856 shares of the company’s stock valued at $73,034,000 after purchasing an additional 942,309 shares in the last quarter. 86.18% of the stock is owned by institutional investors and hedge funds.

Bank OZK Stock Down 3.9 %

Shares of NASDAQ:OZK opened at $47.45 on Friday. Bank OZK has a 1-year low of $37.43 and a 1-year high of $53.64. The company’s fifty day moving average is $47.78 and its two-hundred day moving average is $45.46. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.02 and a current ratio of 1.03. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 7.73 and a beta of 1.20.

Bank OZK (NASDAQ:OZK) last issued its earnings results on Thursday, January 16th. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.12. The firm had revenue of $412.34 million for the quarter, compared to analysts’ expectations of $407.19 million. Bank OZK had a net margin of 25.83% and a return on equity of 13.90%. Bank OZK’s revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $1.50 earnings per share. Equities analysts anticipate that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 14th were issued a dividend of $0.42 per share. This is an increase from Bank OZK’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Tuesday, January 14th. This represents a $1.68 annualized dividend and a dividend yield of 3.54%. Bank OZK’s payout ratio is 27.36%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. UBS Group assumed coverage on Bank OZK in a research note on Tuesday, December 17th. They set a “neutral” rating and a $51.00 price objective on the stock. Stephens boosted their price target on Bank OZK from $53.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Finally, Wells Fargo & Company raised shares of Bank OZK from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $40.00 to $48.00 in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Bank OZK presently has a consensus rating of “Hold” and an average price target of $50.00.

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.