City Center Advisors LLC Has $270,000 Stock Position in Bank OZK (NASDAQ:OZK)

City Center Advisors LLC cut its holdings in Bank OZK (NASDAQ:OZK) by 9.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,055 shares of the company’s stock after selling 614 shares during the period. City Center Advisors LLC’s holdings in Bank OZK were worth $270,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assetmark Inc. increased its stake in Bank OZK by 73.8% in the 3rd quarter. Assetmark Inc. now owns 968 shares of the company’s stock valued at $42,000 after buying an additional 411 shares during the last quarter. American National Bank & Trust bought a new position in shares of Bank OZK in the 3rd quarter valued at about $44,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Bank OZK in the second quarter valued at about $49,000. Capital Performance Advisors LLP bought a new stake in Bank OZK during the third quarter worth about $61,000. Finally, Venturi Wealth Management LLC boosted its position in Bank OZK by 424.8% during the third quarter. Venturi Wealth Management LLC now owns 1,590 shares of the company’s stock valued at $68,000 after purchasing an additional 1,287 shares during the last quarter. 86.18% of the stock is currently owned by institutional investors and hedge funds.

Bank OZK Stock Performance

NASDAQ OZK opened at $41.71 on Monday. The stock has a market cap of $4.73 billion, a PE ratio of 6.86 and a beta of 1.20. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a 50-day moving average of $46.51 and a 200-day moving average of $44.08. Bank OZK has a 52-week low of $37.43 and a 52-week high of $51.50.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings results on Thursday, October 17th. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.02. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. The firm had revenue of $423.00 million for the quarter, compared to analysts’ expectations of $419.08 million. On average, sell-side analysts anticipate that Bank OZK will post 6.03 EPS for the current year.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, January 14th will be issued a dividend of $0.42 per share. This is a boost from Bank OZK’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a yield of 4.03%. The ex-dividend date is Tuesday, January 14th. Bank OZK’s dividend payout ratio (DPR) is presently 27.63%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OZK. Raymond James lowered Bank OZK from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. Piper Sandler boosted their target price on shares of Bank OZK from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. UBS Group started coverage on shares of Bank OZK in a research report on Tuesday, December 17th. They set a “neutral” rating and a $51.00 price target on the stock. Wells Fargo & Company lifted their price objective on shares of Bank OZK from $35.00 to $40.00 and gave the company an “underweight” rating in a research report on Tuesday, December 3rd. Finally, Stephens upped their target price on shares of Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Bank OZK has a consensus rating of “Hold” and a consensus target price of $48.25.

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.