Royal Bank of Canada Has $2.01 Million Stock Holdings in Bank OZK $OZK

Royal Bank of Canada boosted its stake in Bank OZK (NASDAQ:OZKFree Report) by 49.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 43,748 shares of the company’s stock after acquiring an additional 14,404 shares during the quarter. Royal Bank of Canada’s holdings in Bank OZK were worth $2,008,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in OZK. BOKF NA acquired a new position in shares of Bank OZK during the third quarter worth $27,000. Bayforest Capital Ltd boosted its holdings in shares of Bank OZK by 100.5% during the 4th quarter. Bayforest Capital Ltd now owns 766 shares of the company’s stock valued at $35,000 after acquiring an additional 384 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Bank OZK during the 4th quarter valued at $36,000. Transamerica Financial Advisors LLC grew its position in Bank OZK by 111.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 830 shares of the company’s stock worth $38,000 after acquiring an additional 437 shares during the last quarter. Finally, Employees Retirement System of Texas bought a new stake in Bank OZK during the 3rd quarter worth $51,000. Institutional investors and hedge funds own 86.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on OZK. TD Cowen dropped their target price on Bank OZK from $53.00 to $52.00 and set a “hold” rating for the company in a research report on Friday, July 24th. Citigroup restated a “sell” rating on shares of Bank OZK in a report on Monday. Wall Street Zen raised Bank OZK from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research lowered shares of Bank OZK from a “hold” rating to a “strong sell” rating in a report on Thursday, August 13th. Finally, Weiss Ratings upgraded shares of Bank OZK from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 23rd. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $56.88.

Read Our Latest Report on Bank OZK

Bank OZK Stock Performance

NASDAQ OZK opened at $51.11 on Tuesday. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 8.45 and a beta of 0.89. The company has a quick ratio of 1.00, a current ratio of 0.97 and a debt-to-equity ratio of 0.08. Bank OZK has a twelve month low of $42.37 and a twelve month high of $53.66. The stock has a fifty day simple moving average of $51.06 and a 200 day simple moving average of $48.75.

Bank OZK (NASDAQ:OZKGet Free Report) last announced its earnings results on Tuesday, July 21st. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.48 by $0.01. The firm had revenue of $430.02 million for the quarter, compared to the consensus estimate of $436.42 million. Bank OZK had a return on equity of 11.87% and a net margin of 24.95%.The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.47 EPS. Sell-side analysts expect that Bank OZK will post 5.85 EPS for the current year.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Monday, July 13th were paid a $0.48 dividend. This is an increase from Bank OZK’s previous quarterly dividend of $0.47. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, July 13th. Bank OZK’s payout ratio is presently 31.74%.

Bank OZK announced that its board has authorized a share repurchase plan on Monday, June 29th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Bank OZK Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bank OZK (NASDAQ:OZK)

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