Redmont Wealth Advisors LLC Buys Shares of 13,820 Bank OZK $OZK

Redmont Wealth Advisors LLC bought a new stake in shares of Bank OZK (NASDAQ:OZK) in the third quarter, Holdings Channel reports. The fund bought 13,820 shares of the company’s stock, valued at approximately $705,000. Bank OZK comprises 1.0% of Redmont Wealth Advisors LLC’s portfolio, making the stock its 28th biggest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in shares of Bank OZK by 1.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,406,933 shares of the company’s stock valued at $207,390,000 after buying an additional 56,713 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Bank OZK by 0.3% in the second quarter. First Trust Advisors LP now owns 2,790,739 shares of the company’s stock worth $131,332,000 after buying an additional 9,540 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Bank OZK by 9.4% in the second quarter. American Century Companies Inc. now owns 2,631,607 shares of the company’s stock valued at $123,843,000 after acquiring an additional 226,315 shares during the period. Van Berkom & Associates Inc. grew its stake in Bank OZK by 0.7% during the third quarter. Van Berkom & Associates Inc. now owns 1,818,447 shares of the company’s stock valued at $92,704,000 after acquiring an additional 12,733 shares in the last quarter. Finally, Senvest Management LLC increased its holdings in Bank OZK by 24.4% during the 2nd quarter. Senvest Management LLC now owns 1,581,582 shares of the company’s stock worth $74,429,000 after acquiring an additional 310,707 shares during the period. 86.18% of the stock is owned by institutional investors.

Bank OZK Stock Performance

Shares of Bank OZK stock opened at $49.48 on Thursday. Bank OZK has a 12 month low of $35.71 and a 12 month high of $53.66. The firm has a market capitalization of $5.54 billion, a P/E ratio of 8.02 and a beta of 0.94. The company has a current ratio of 1.02, a quick ratio of 1.03 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $48.05 and a two-hundred day simple moving average of $48.41.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings data on Tuesday, January 20th. The company reported $1.53 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.03). Bank OZK had a return on equity of 12.65% and a net margin of 25.50%.The business had revenue of $436.29 million for the quarter, compared to the consensus estimate of $434.68 million. During the same period in the previous year, the firm earned $1.56 EPS. On average, equities analysts forecast that Bank OZK will post 6.02 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 20th. Investors of record on Tuesday, January 13th were given a dividend of $0.46 per share. This is a positive change from Bank OZK’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Tuesday, January 13th. This represents a $1.84 annualized dividend and a yield of 3.7%. Bank OZK’s payout ratio is currently 29.82%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on OZK. TD Cowen reduced their price target on shares of Bank OZK from $56.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. Zacks Research upgraded Bank OZK from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 7th. Piper Sandler set a $62.00 target price on shares of Bank OZK in a research report on Thursday, January 22nd. Stephens cut their target price on shares of Bank OZK from $64.00 to $62.00 and set an “overweight” rating on the stock in a report on Thursday, January 22nd. Finally, Morgan Stanley lowered their price objective on shares of Bank OZK from $59.00 to $57.00 and set an “equal weight” rating for the company in a research note on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $56.78.

Bank OZK Profile

Bank OZK, formerly known as Bank of the Ozarks, is a regional commercial bank headquartered in Little Rock, Arkansas. Established in 1903, the bank offers a full suite of banking products and services to both individual and corporate clients. Through a combination of organic growth and targeted acquisitions, Bank OZK has built a diversified lending portfolio and a strong deposit franchise.

The bank’s core operations focus on commercial real estate lending, including acquisition, development and construction financing.