Picton Mahoney Asset Management Raises Stock Position in Bank OZK $OZK

Picton Mahoney Asset Management grew its stake in shares of Bank OZK (NASDAQ:OZK) by 179.7% in the third quarter, Holdings Channel.com reports. The fund owned 37,852 shares of the company’s stock after purchasing an additional 24,319 shares during the period. Picton Mahoney Asset Management’s holdings in Bank OZK were worth $1,930,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Root Financial Partners LLC acquired a new stake in shares of Bank OZK in the 3rd quarter worth approximately $27,000. Highline Wealth Partners LLC purchased a new stake in Bank OZK during the third quarter worth $28,000. True Wealth Design LLC boosted its position in Bank OZK by 147.0% during the third quarter. True Wealth Design LLC now owns 568 shares of the company’s stock worth $29,000 after purchasing an additional 338 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in Bank OZK by 58.2% in the second quarter. Hantz Financial Services Inc. now owns 590 shares of the company’s stock valued at $28,000 after purchasing an additional 217 shares during the last quarter. Finally, AdvisorNet Financial Inc increased its position in shares of Bank OZK by 82.2% in the third quarter. AdvisorNet Financial Inc now owns 665 shares of the company’s stock valued at $34,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Bank OZK Stock Down 0.8%

OZK stock opened at $46.45 on Friday. The company has a 50 day moving average price of $48.08 and a two-hundred day moving average price of $48.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.03 and a current ratio of 1.02. The stock has a market capitalization of $5.20 billion, a P/E ratio of 7.53 and a beta of 0.93. Bank OZK has a one year low of $35.71 and a one year high of $53.66.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings data on Tuesday, January 20th. The company reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.03). The business had revenue of $436.29 million during the quarter, compared to analysts’ expectations of $434.68 million. Bank OZK had a net margin of 25.50% and a return on equity of 12.65%. During the same period in the prior year, the firm earned $1.56 EPS. As a group, sell-side analysts expect 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 20th. Shareholders of record on Tuesday, January 13th were issued a $0.46 dividend. This is a positive change from Bank OZK’s previous quarterly dividend of $0.45. The ex-dividend date was Tuesday, January 13th. This represents a $1.84 annualized dividend and a yield of 4.0%. Bank OZK’s dividend payout ratio (DPR) is presently 29.82%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Bank OZK in a research report on Tuesday, January 27th. UBS Group restated a “neutral” rating and set a $51.00 target price on shares of Bank OZK in a research report on Tuesday, January 6th. Zacks Research raised shares of Bank OZK from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 7th. Morgan Stanley raised their price objective on shares of Bank OZK from $57.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Wall Street Zen upgraded Bank OZK from a “sell” rating to a “hold” rating in a research report on Saturday, January 3rd. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Bank OZK has a consensus rating of “Hold” and a consensus target price of $57.22.

Bank OZK Company 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.