Cardinal Capital Management Has $1.79 Million Stock Holdings in Bank OZK (NASDAQ:OZK)

Cardinal Capital Management lifted its stake in Bank OZK (NASDAQ:OZK) by 28.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,392 shares of the company’s stock after acquiring an additional 8,688 shares during the quarter. Cardinal Capital Management’s holdings in Bank OZK were worth $1,791,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Qube Research & Technologies Ltd bought a new stake in Bank OZK during the third quarter valued at about $10,788,000. Comerica Bank acquired a new stake in shares of Bank OZK during the third quarter worth approximately $4,252,000. Pinebridge Investments L.P. increased its holdings in shares of Bank OZK by 77.3% during the fourth quarter. Pinebridge Investments L.P. now owns 188,600 shares of the company’s stock worth $9,397,000 after buying an additional 82,233 shares in the last quarter. Norges Bank acquired a new stake in shares of Bank OZK during the fourth quarter worth approximately $56,293,000. Finally, Epoch Investment Partners Inc. acquired a new stake in shares of Bank OZK in the fourth quarter valued at approximately $10,624,000. 86.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on OZK shares. Wells Fargo & Company reduced their price target on shares of Bank OZK from $39.00 to $35.00 and set an “underweight” rating on the stock in a research report on Thursday, June 6th. Morgan Stanley restated an “equal weight” rating and set a $48.00 price objective on shares of Bank OZK in a research note on Monday, April 22nd. Stephens reiterated an “equal weight” rating and issued a $50.00 price target on shares of Bank OZK in a research note on Thursday, May 30th. Truist Financial cut their price objective on shares of Bank OZK from $48.00 to $47.00 and set a “hold” rating for the company in a report on Monday, April 22nd. Finally, Citigroup downgraded shares of Bank OZK from a “buy” rating to a “sell” rating and cut their price target for the stock from $57.00 to $37.00 in a report on Wednesday, May 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $46.00.

Bank OZK Price Performance

OZK opened at $39.90 on Friday. The firm has a 50-day moving average price of $43.50 and a 200-day moving average price of $44.75. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.14. Bank OZK has a twelve month low of $34.76 and a twelve month high of $52.36. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of 6.68 and a beta of 1.20.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings data on Thursday, April 18th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.07. Bank OZK had a net margin of 28.54% and a return on equity of 14.84%. The firm had revenue of $406.02 million during the quarter, compared to analyst estimates of $396.81 million. During the same period in the previous year, the business posted $1.41 EPS. Equities analysts expect that Bank OZK will post 6.1 EPS for the current year.

Bank OZK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 12th were given a $0.39 dividend. The ex-dividend date was Thursday, April 11th. This is an increase from Bank OZK’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.91%. Bank OZK’s dividend payout ratio is currently 26.13%.

Bank OZK Company 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.