Groesbeck Investment Management Corp NJ Has $586,000 Position in Bank OZK (NASDAQ:OZK)

Groesbeck Investment Management Corp NJ reduced its stake in shares of Bank OZK (NASDAQ:OZK) by 22.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 13,153 shares of the company’s stock after selling 3,800 shares during the quarter. Groesbeck Investment Management Corp NJ’s holdings in Bank OZK were worth $586,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. KG&L Capital Management LLC lifted its stake in Bank OZK by 3.5% in the fourth quarter. KG&L Capital Management LLC now owns 24,523 shares of the company’s stock valued at $1,090,000 after acquiring an additional 818 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new stake in Bank OZK in the fourth quarter valued at approximately $93,000. R Squared Ltd acquired a new stake in Bank OZK in the fourth quarter valued at approximately $149,000. Pacer Advisors Inc. lifted its stake in Bank OZK by 2.1% in the fourth quarter. Pacer Advisors Inc. now owns 15,733 shares of the company’s stock valued at $701,000 after acquiring an additional 325 shares during the last quarter. Finally, KBC Group NV lifted its stake in Bank OZK by 60.8% in the fourth quarter. KBC Group NV now owns 4,727 shares of the company’s stock valued at $210,000 after acquiring an additional 1,788 shares during the last quarter. 86.18% of the stock is currently owned by institutional investors and hedge funds.

Bank OZK Trading Up 2.4 %

Shares of OZK stock opened at $50.83 on Wednesday. Bank OZK has a 1 year low of $37.43 and a 1 year high of $51.61. The firm’s fifty day simple moving average is $46.92 and its 200 day simple moving average is $44.87. The firm has a market capitalization of $5.77 billion, a P/E ratio of 8.28 and a beta of 1.20. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.16.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings results on Thursday, January 16th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.12. The firm had revenue of $412.34 million for the quarter, compared to analyst estimates of $407.19 million. Bank OZK had a net margin of 25.83% and a return on equity of 13.90%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.50 EPS. As a group, sell-side analysts predict that Bank OZK will post 5.97 EPS for the current year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 14th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Tuesday, January 14th. This is an increase from Bank OZK’s previous quarterly dividend of $0.41. Bank OZK’s payout ratio is currently 27.36%.

Analyst Upgrades and Downgrades

OZK has been the topic of a number of recent analyst reports. Truist Financial dropped their price target on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating on the stock in a research report on Monday, October 21st. Piper Sandler lifted their price target on shares of Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Stephens lifted their price target on shares of Bank OZK from $53.00 to $57.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. UBS Group initiated coverage on shares of Bank OZK in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 price target on the stock. Finally, Wells Fargo & Company raised shares of Bank OZK from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $40.00 to $48.00 in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $50.00.

Bank OZK Profile

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.