Great Lakes Advisors LLC Has $8.98 Million Stake in Bank OZK $OZK

Great Lakes Advisors LLC trimmed its stake in Bank OZK (NASDAQ:OZK) by 46.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 176,234 shares of the company’s stock after selling 150,971 shares during the quarter. Great Lakes Advisors LLC owned 0.15% of Bank OZK worth $8,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Root Financial Partners LLC acquired a new stake in shares of Bank OZK during the 3rd quarter valued at $27,000. Hantz Financial Services Inc. raised its holdings in shares of Bank OZK by 58.2% during the second quarter. Hantz Financial Services Inc. now owns 590 shares of the company’s stock worth $28,000 after acquiring an additional 217 shares in the last quarter. Highline Wealth Partners LLC purchased a new stake in shares of 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 valued at $29,000 after purchasing an additional 338 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its position in Bank OZK by 82.2% during the third quarter. AdvisorNet Financial Inc now owns 665 shares of the company’s stock valued at $34,000 after purchasing an additional 300 shares during the last quarter. 86.18% of the stock is owned by hedge funds and other institutional investors.

Bank OZK Price Performance

Shares of Bank OZK stock opened at $47.25 on Friday. 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 firm has a fifty day simple moving average of $47.13 and a 200-day simple moving average of $48.58. The stock has a market capitalization of $5.29 billion, a price-to-earnings ratio of 7.66 and a beta of 0.90. Bank OZK has a 1-year low of $35.71 and a 1-year high of $53.66.

Bank OZK (NASDAQ:OZK) last announced its earnings results 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 firm had revenue of $436.29 million during the quarter, compared to the consensus estimate of $434.68 million. During the same quarter last year, the business earned $1.56 EPS. On average, sell-side analysts expect that Bank OZK will post 6.02 earnings per share for the current year.

Bank OZK Increases Dividend

The firm 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. The ex-dividend date of this dividend was Tuesday, January 13th. This represents a $1.84 annualized dividend and a dividend yield of 3.9%. This is a boost from Bank OZK’s previous quarterly dividend of $0.45. Bank OZK’s payout ratio is presently 29.82%.

Analyst Ratings Changes

Several brokerages have weighed in on OZK. Piper Sandler set a $62.00 target price on Bank OZK in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods decreased their target price on shares of Bank OZK from $53.00 to $50.00 and set a “market perform” rating for the company in a research report on Monday, October 20th. Weiss Ratings restated a “buy (b-)” rating on shares of Bank OZK in a report on Tuesday. Zacks Research upgraded shares of Bank OZK from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 7th. Finally, Stephens cut their target price on Bank OZK from $64.00 to $62.00 and set an “overweight” rating on the stock in a report on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Bank OZK presently has a consensus rating of “Hold” and an average target price of $56.78.

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.