Impact Partnership Wealth LLC Purchases New Position in Bank OZK (NASDAQ:OZK)

Impact Partnership Wealth LLC purchased a new stake in Bank OZK (NASDAQ:OZK) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 5,008 shares of the company’s stock, valued at approximately $205,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PSI Advisors LLC boosted its holdings in Bank OZK by 20,933.3% in the second quarter. PSI Advisors LLC now owns 631 shares of the company’s stock valued at $26,000 after purchasing an additional 628 shares in the last quarter. LRI Investments LLC acquired a new position in Bank OZK in the first quarter valued at approximately $29,000. Principal Securities Inc. acquired a new stake in shares of Bank OZK in the fourth quarter valued at approximately $31,000. Versant Capital Management Inc boosted its holdings in shares of Bank OZK by 423.0% in the second quarter. Versant Capital Management Inc now owns 978 shares of the company’s stock valued at $40,000 after acquiring an additional 791 shares during the period. Finally, Innealta Capital LLC acquired a new stake in shares of Bank OZK in the second quarter valued at approximately $46,000. 86.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OZK. Morgan Stanley increased their price objective on Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Wells Fargo & Company decreased their price objective on Bank OZK from $39.00 to $35.00 and set an “underweight” rating for the company in a report on Thursday, June 6th. Truist Financial increased their price objective on Bank OZK from $41.00 to $49.00 and gave the company a “hold” rating in a report on Monday, July 22nd. StockNews.com raised Bank OZK from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Finally, Stephens reissued an “equal weight” rating and issued a $50.00 price objective on shares of Bank OZK in a report on Thursday, July 18th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $46.71.

Bank OZK Price Performance

Bank OZK stock opened at $40.98 on Friday. Bank OZK has a 12 month low of $34.76 and a 12 month high of $52.36. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.02 and a quick ratio of 1.02. The business has a 50 day simple moving average of $42.85 and a 200-day simple moving average of $43.29. The stock has a market capitalization of $4.65 billion, a PE ratio of 6.86 and a beta of 1.17.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings results on Wednesday, July 17th. The company reported $1.52 EPS for the quarter, hitting the consensus estimate of $1.52. Bank OZK had a return on equity of 14.50% and a net margin of 27.04%. The business had revenue of $416.78 million during the quarter, compared to analysts’ expectations of $414.39 million. During the same quarter in the prior year, the business earned $1.47 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities analysts predict that Bank OZK will post 6.01 earnings per share for the current year.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 12th were given a $0.40 dividend. This is a boost from Bank OZK’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, July 12th. This represents a $1.60 annualized dividend and a yield of 3.90%. Bank OZK’s dividend payout ratio is presently 26.80%.

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.