Bank OZK (NASDAQ:OZK) Shares Acquired by Cardinal Capital Management

Cardinal Capital Management raised its holdings in shares of Bank OZK (NASDAQ:OZK) by 11.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,714 shares of the company’s stock after purchasing an additional 4,579 shares during the period. Cardinal Capital Management’s holdings in Bank OZK were worth $1,965,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Tidal Investments LLC increased its position in shares of Bank OZK by 4.0% in the 1st quarter. Tidal Investments LLC now owns 5,491 shares of the company’s stock valued at $250,000 after acquiring an additional 210 shares during the period. HB Wealth Management LLC increased its position in shares of Bank OZK by 3.9% in the 1st quarter. HB Wealth Management LLC now owns 6,607 shares of the company’s stock valued at $300,000 after acquiring an additional 249 shares during the period. Evergreen Capital Management LLC increased its position in shares of Bank OZK by 8.3% in the 2nd quarter. Evergreen Capital Management LLC now owns 5,079 shares of the company’s stock valued at $208,000 after acquiring an additional 388 shares during the period. Naples Global Advisors LLC increased its position in shares of Bank OZK by 2.5% in the 2nd quarter. Naples Global Advisors LLC now owns 16,550 shares of the company’s stock valued at $679,000 after acquiring an additional 400 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of Bank OZK by 0.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 82,134 shares of the company’s stock valued at $3,733,000 after acquiring an additional 409 shares during the period. 86.18% of the stock is owned by institutional investors and hedge funds.

Bank OZK Price Performance

Shares of OZK opened at $46.76 on Friday. The business’s 50-day moving average is $42.12 and its two-hundred day moving average is $43.02. The company has a market capitalization of $5.30 billion, a P/E ratio of 7.83 and a beta of 1.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.02 and a current ratio of 1.02. Bank OZK has a fifty-two week low of $34.76 and a fifty-two week high of $52.36.

Bank OZK (NASDAQ:OZK) last posted its earnings results on Wednesday, July 17th. The company reported $1.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.52. Bank OZK had a net margin of 27.04% and a return on equity of 14.50%. The business had revenue of $416.78 million for the quarter, compared to analyst estimates of $414.39 million. During the same period in the prior year, the company posted $1.47 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Research analysts predict that Bank OZK will post 6 earnings per share for the current year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, October 11th will be paid a dividend of $0.41 per share. This is a positive change from Bank OZK’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Friday, October 11th. Bank OZK’s dividend payout ratio is presently 27.47%.

Analyst Ratings Changes

Several equities analysts recently issued reports on OZK shares. Morgan Stanley upped their target price on Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Raymond James downgraded Bank OZK from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. StockNews.com raised Bank OZK from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Stephens reaffirmed an “equal weight” rating and set a $50.00 price target on shares of Bank OZK in a research report on Thursday, July 18th. Finally, Truist Financial cut their price target on Bank OZK from $49.00 to $48.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $46.57.

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.