Bank OZK $OZK Shares Sold by Redmont Wealth Advisors LLC

Redmont Wealth Advisors LLC reduced its stake in Bank OZK (NASDAQ:OZK) by 87.4% during the 4th quarter, Holdings Channel reports. The fund owned 1,748 shares of the company’s stock after selling 12,072 shares during the quarter. Redmont Wealth Advisors LLC’s holdings in Bank OZK were worth $80,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Wasatch Advisors LP boosted its position in shares of Bank OZK by 34.9% during the 3rd quarter. Wasatch Advisors LP now owns 7,437,646 shares of the company’s stock worth $379,171,000 after acquiring an additional 1,924,387 shares in the last quarter. Fairholme Capital Management LLC grew its position in shares of Bank OZK by 45.1% in the 2nd quarter. Fairholme Capital Management LLC now owns 916,752 shares of the company’s stock valued at $43,142,000 after buying an additional 285,150 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of Bank OZK in the 3rd quarter valued at $13,014,000. Mackenzie Financial Corp grew its position in shares of Bank OZK by 39.2% in the 3rd quarter. Mackenzie Financial Corp now owns 788,819 shares of the company’s stock valued at $40,214,000 after buying an additional 222,157 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its position in shares of Bank OZK by 36.7% in the 2nd quarter. Balyasny Asset Management L.P. now owns 793,797 shares of the company’s stock valued at $37,356,000 after buying an additional 213,101 shares during the last quarter. 86.18% of the stock is currently owned by institutional investors and hedge funds.

Bank OZK Price Performance

Shares of NASDAQ:OZK opened at $47.03 on Wednesday. The company has a 50-day simple moving average of $46.58 and a 200-day simple moving average of $46.91. Bank OZK has a one year low of $42.37 and a one year high of $53.66. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.02 and a current ratio of 1.00. The stock has a market capitalization of $5.26 billion, a price-to-earnings ratio of 7.66 and a beta of 0.91.

Bank OZK (NASDAQ:OZK) last announced its earnings results on Tuesday, April 21st. The company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.02). Bank OZK had a net margin of 25.27% and a return on equity of 12.32%. The business had revenue of $424.32 million during the quarter, compared to analysts’ expectations of $422.62 million. During the same period in the previous year, the company posted $1.47 earnings per share. Bank OZK’s quarterly revenue was up 2.2% on a year-over-year basis. On average, analysts predict that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 20th. Stockholders of record on Monday, April 13th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, April 13th. Bank OZK’s dividend payout ratio is presently 30.62%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. TD Cowen dropped their target price on shares of Bank OZK from $56.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, January 22nd. Weiss Ratings raised shares of Bank OZK from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, April 21st. Stephens dropped their target price on shares of Bank OZK from $64.00 to $62.00 and set an “overweight” rating on the stock in a research report on Thursday, January 22nd. Piper Sandler set a $62.00 price target on Bank OZK in a research report on Thursday, January 22nd. Finally, Wells Fargo & Company lifted their price target on Bank OZK from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Monday, March 30th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Bank OZK presently has an average rating of “Hold” and a consensus price target of $56.89.

About Bank OZK

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.