Money Concepts Capital Corp Raises Stock Position in Bank OZK (NASDAQ:OZK)

Money Concepts Capital Corp grew its position in Bank OZK (NASDAQ:OZK) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,586 shares of the company’s stock after acquiring an additional 944 shares during the quarter. Money Concepts Capital Corp owned about 0.06% of Bank OZK worth $3,143,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in OZK. Barclays PLC raised its stake in Bank OZK by 30.7% in the 3rd quarter. Barclays PLC now owns 254,874 shares of the company’s stock valued at $10,958,000 after purchasing an additional 59,907 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Bank OZK by 6.7% in the third quarter. Geode Capital Management LLC now owns 2,022,979 shares of the company’s stock valued at $86,989,000 after buying an additional 126,352 shares during the last quarter. Verition Fund Management LLC lifted its stake in shares of Bank OZK by 68.6% in the third quarter. Verition Fund Management LLC now owns 34,869 shares of the company’s stock worth $1,499,000 after buying an additional 14,189 shares in the last quarter. Cerity Partners LLC boosted its position in Bank OZK by 112.8% during the third quarter. Cerity Partners LLC now owns 51,717 shares of the company’s stock worth $2,223,000 after acquiring an additional 27,409 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in Bank OZK by 124.6% during the third quarter. Captrust Financial Advisors now owns 1,698,856 shares of the company’s stock worth $73,034,000 after acquiring an additional 942,309 shares during the last quarter. 86.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on OZK. Wells Fargo & Company raised shares of Bank OZK from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $40.00 to $48.00 in a research note on Tuesday, January 21st. Piper Sandler boosted their price objective on Bank OZK from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. UBS Group started coverage on Bank OZK in a report on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 target price for the company. Stephens lifted their price target on Bank OZK from $53.00 to $57.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, Truist Financial lowered 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $50.00.

Bank OZK Stock Up 2.4 %

Shares of OZK opened at $50.83 on Wednesday. The company’s 50-day moving average price is $46.92 and its 200 day moving average price is $44.87. Bank OZK has a 12-month low of $37.43 and a 12-month high of $51.61. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.16. The firm has a market cap of $5.77 billion, a P/E ratio of 8.28 and a beta of 1.20.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings results on Thursday, January 16th. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.12. The business had revenue of $412.34 million for the quarter, compared to the consensus estimate 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 was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.50 EPS. On average, sell-side analysts forecast that Bank OZK will post 5.97 earnings per share for the current year.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Tuesday, January 14th were issued 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%.

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.