Edgestream Partners L.P. Buys 90,977 Shares of Bank OZK (NASDAQ:OZK)

Edgestream Partners L.P. lifted its stake in shares of Bank OZK (NASDAQ:OZK) by 129.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 161,291 shares of the company’s stock after acquiring an additional 90,977 shares during the period. Edgestream Partners L.P. owned approximately 0.14% of Bank OZK worth $6,934,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. PSI Advisors LLC lifted its stake in Bank OZK by 20,933.3% during the second quarter. PSI Advisors LLC now owns 631 shares of the company’s stock worth $26,000 after purchasing an additional 628 shares during the last quarter. Assetmark Inc. lifted its position in Bank OZK by 73.8% in the 3rd quarter. Assetmark Inc. now owns 968 shares of the company’s stock worth $42,000 after buying an additional 411 shares during the last quarter. Versant Capital Management Inc boosted its stake in Bank OZK by 423.0% in the second quarter. Versant Capital Management Inc now owns 978 shares of the company’s stock worth $40,000 after buying an additional 791 shares in the last quarter. American National Bank & Trust bought a new position in Bank OZK during the third quarter valued at approximately $44,000. Finally, Innealta Capital LLC purchased a new position in shares of Bank OZK during the second quarter worth approximately $46,000. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

Bank OZK Price Performance

OZK opened at $49.97 on Friday. 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 stock has a market capitalization of $5.67 billion, a PE ratio of 8.22 and a beta of 1.16. The stock’s 50 day moving average price is $45.19 and its 200-day moving average price is $43.36. Bank OZK has a 52-week low of $37.43 and a 52-week high of $52.36.

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

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 11th were paid a $0.41 dividend. This is an increase from Bank OZK’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend was Friday, October 11th. Bank OZK’s dividend payout ratio is presently 26.97%.

Analyst Upgrades and Downgrades

OZK has been the subject of a number of research reports. Stephens upped their price objective on shares of Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Piper Sandler raised their price objective on Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Truist Financial lowered their target price on Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company in a research note on Monday, October 21st. Raymond James lowered Bank OZK from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. Finally, Morgan Stanley boosted their price objective on Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Bank OZK has an average rating of “Hold” and an average target price of $48.50.

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.