63,497 Shares in Bank OZK $OZK Bought by Great Lakes Advisors LLC

Great Lakes Advisors LLC acquired a new position in Bank OZK (NASDAQ:OZK) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 63,497 shares of the company’s stock, valued at approximately $3,308,000. Great Lakes Advisors LLC owned 0.06% of Bank OZK at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in OZK. Quadrant Capital Group LLC lifted its position in shares of Bank OZK by 4.2% in the 4th quarter. Quadrant Capital Group LLC now owns 5,446 shares of the company’s stock worth $251,000 after buying an additional 218 shares during the last quarter. Kera Capital Partners Inc. grew its position in shares of Bank OZK by 2.1% during the 4th quarter. Kera Capital Partners Inc. now owns 11,336 shares of the company’s stock valued at $539,000 after buying an additional 236 shares during the last quarter. Cardinal Capital Management raised its stake in Bank OZK by 0.6% during the fourth quarter. Cardinal Capital Management now owns 48,979 shares of the company’s stock worth $2,254,000 after acquiring an additional 277 shares during the period. Cornerstone Wealth Management LLC raised its stake in Bank OZK by 4.5% during the fourth quarter. Cornerstone Wealth Management LLC now owns 6,403 shares of the company’s stock worth $295,000 after acquiring an additional 278 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its holdings in Bank OZK by 0.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 38,261 shares of the company’s stock worth $1,761,000 after acquiring an additional 317 shares during the last quarter. Institutional investors own 86.18% of the company’s stock.

Bank OZK Trading Down 0.4%

Bank OZK stock opened at $49.28 on Friday. The company has a quick ratio of 1.00, a current ratio of 0.97 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $50.98 and a two-hundred day moving average price of $48.81. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of 8.15 and a beta of 0.89. Bank OZK has a 52-week low of $42.37 and a 52-week high of $53.66.

Bank OZK (NASDAQ:OZK) last posted its earnings results on Tuesday, July 21st. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.48 by $0.01. Bank OZK had a net margin of 24.95% and a return on equity of 11.87%. The firm had revenue of $430.02 million during the quarter, compared to analysts’ expectations of $436.42 million. During the same quarter in the prior year, the firm earned $1.47 EPS. Bank OZK’s quarterly revenue was up .5% on a year-over-year basis. Sell-side analysts expect that Bank OZK will post 5.85 earnings per share for the current year.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Monday, July 13th were given a dividend of $0.48 per share. This is a boost from Bank OZK’s previous quarterly dividend of $0.47. This represents a $1.92 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Monday, July 13th. Bank OZK’s payout ratio is presently 31.74%.

Bank OZK announced that its Board of Directors has authorized a stock repurchase plan on Monday, June 29th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to buy up to 3.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Citigroup restated a “sell” rating on shares of Bank OZK in a research note on Monday. Wall Street Zen upgraded Bank OZK from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research downgraded Bank OZK from a “hold” rating to a “strong sell” rating in a report on Thursday, August 13th. Weiss Ratings upgraded Bank OZK from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 23rd. Finally, Piper Sandler restated an “overweight” rating and set a $61.00 price objective on shares of Bank OZK in a research note on Wednesday, July 22nd. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $56.88.

Bank OZK Profile

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.