Wilmington Savings Fund Society FSB Invests $275,000 in Bank OZK (NASDAQ:OZK)

Wilmington Savings Fund Society FSB acquired a new stake in shares of Bank OZK (NASDAQ:OZK) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 6,173 shares of the company’s stock, valued at approximately $275,000.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in Bank OZK by 32.7% during the third quarter. Wellington Management Group LLP now owns 4,223,452 shares of the company’s stock worth $181,566,000 after buying an additional 1,041,198 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Bank OZK by 124.6% during the 3rd quarter. Captrust Financial Advisors now owns 1,698,856 shares of the company’s stock valued at $73,034,000 after acquiring an additional 942,309 shares during the last quarter. Senvest Management LLC purchased a new position in shares of Bank OZK during the third quarter worth about $22,306,000. State Street Corp increased its position in shares of Bank OZK by 7.3% in the third quarter. State Street Corp now owns 7,106,907 shares of the company’s stock worth $305,526,000 after purchasing an additional 485,172 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in Bank OZK by 34.8% in the third quarter. Victory Capital Management Inc. now owns 1,321,436 shares of the company’s stock valued at $56,809,000 after purchasing an additional 341,078 shares in the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Bank OZK Price Performance

Shares of Bank OZK stock opened at $53.10 on Wednesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.03 and a quick ratio of 1.02. Bank OZK has a one year low of $37.43 and a one year high of $53.64. The business’s 50 day simple moving average is $47.11 and its two-hundred day simple moving average is $45.05. The stock has a market capitalization of $6.02 billion, a P/E ratio of 8.65 and a beta of 1.20.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings results on Thursday, January 16th. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.12. Bank OZK had a net margin of 25.83% and a return on equity of 13.90%. The business had revenue of $412.34 million during the quarter, compared to analysts’ expectations of $407.19 million. During the same quarter in the prior year, the company posted $1.50 EPS. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. Analysts forecast that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Tuesday, January 14th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.16%. 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%.

Wall Street Analysts Forecast Growth

OZK has been the subject of a number of research reports. Truist Financial cut their price target on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company in a research note on Monday, October 21st. Wells Fargo & Company raised Bank OZK from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $40.00 to $48.00 in a research note on Tuesday, January 21st. Piper Sandler lifted their price target on Bank OZK from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Stephens increased their price objective on Bank OZK from $53.00 to $57.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Finally, UBS Group initiated coverage on Bank OZK in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Bank OZK presently has an average rating of “Hold” and a consensus target price of $50.00.

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.