Vest Financial LLC Acquires 10,983 Shares of Bank OZK $OZK

Vest Financial LLC lifted its holdings in shares of Bank OZK (NASDAQ:OZK) by 7.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 162,100 shares of the company’s stock after purchasing an additional 10,983 shares during the quarter. Vest Financial LLC’s holdings in Bank OZK were worth $7,450,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in OZK. Bank of New York Mellon Corp purchased a new position in shares of Bank OZK during the second quarter worth $63,410,000. Quantinno Capital Management LP grew its holdings in Bank OZK by 41.7% during the 1st quarter. Quantinno Capital Management LP now owns 929,888 shares of the company’s stock worth $42,673,000 after acquiring an additional 273,543 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Bank OZK during the second quarter worth $14,038,000. Ranger Investment Management L.P. purchased a new position in shares of Bank OZK in the 2nd quarter valued at about $13,240,000. Finally, Bank of America Corp DE increased its stake in Bank OZK by 33.0% in the first quarter. Bank of America Corp DE now owns 774,253 shares of the company’s stock valued at $35,530,000 after purchasing an additional 192,237 shares during the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Bank OZK Stock Performance

Shares of OZK opened at $49.67 on Friday. Bank OZK has a 1 year low of $42.37 and a 1 year high of $53.39. The company has a market capitalization of $5.56 billion, a price-to-earnings ratio of 8.07 and a beta of 0.92. The company’s 50 day simple moving average is $47.83 and its 200 day simple moving average is $48.98. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.97 and a current ratio of 0.98.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings data on Tuesday, October 20th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.07. Bank OZK had a return on equity of 11.56% and a net margin of 24.70%. The business had revenue of $391.48 million for the quarter, compared to analysts’ expectations of $434.83 million. During the same quarter last year, the firm earned $1.59 earnings per share. On average, sell-side analysts predict that Bank OZK will post 5.83 EPS for the current year.

Bank OZK announced that its board has initiated a stock repurchase program on Monday, June 29th that allows the company to repurchase $200.00 million in shares. This buyback authorization allows the company to buy up to 3.4% of its shares through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 20th. Shareholders of record on Tuesday, October 13th were issued a $0.49 dividend. This is a boost from Bank OZK’s previous quarterly dividend of $0.48. The ex-dividend date was Tuesday, October 13th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.9%. Bank OZK’s dividend payout ratio (DPR) is 32.40%.

Trending Headlines about Bank OZK

Here are the key news stories impacting Bank OZK this week:

• Positive Sentiment: Bank OZK reported third-quarter adjusted earnings of $1.50 per share, exceeding analysts’ $1.43 estimate. The earnings beat helped ease concerns about the bank’s exposure to commercial real estate and supported the stock’s advance. Bank OZK releases third quarter earnings, beats analysts’ estimates
• Positive Sentiment: Management highlighted growth in Corporate and Institutional Banking, which is helping diversify Bank OZK away from its traditional real-estate lending focus. Investors appear to view the shift as an underappreciated long-term positive. Bank OZK Earnings Call Highlights CIB-Led Growth
• Positive Sentiment: Faster-than-expected loan payoffs are shrinking the commercial real-estate portfolio. While this reduces near-term loan growth, it may also lower Bank OZK’s concentration and credit risk as alternative debt providers increase competition. Debt Flood Shrinks Bank OZK’s Real Estate Book Faster Than Planned
• Neutral Sentiment: The quarter’s net margin remained strong at 24.70% and return on equity was 11.54%, but earnings were below the year-ago $1.59 per share, indicating that the beat does not represent year-over-year growth. Bank OZK Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
• Negative Sentiment: Revenue of $391.5 million fell well short of the $434.8 million consensus estimate, while quarterly income and revenue declined from the prior year. The shortfall limits the strength of the earnings beat. Bank OZK posts quarterly declines in income and revenue
• Negative Sentiment: Commercial-real-estate-related losses and higher costs remain a significant headwind. Loan payoffs are occurring faster than planned as debt funds compete aggressively, potentially pressuring future loan growth and interest income. Bank OZK’s Q3 Profit Falls as Real Estate Troubles Drive Costs Higher

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on OZK shares. UBS Group raised their price objective on Bank OZK from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Morgan Stanley boosted their price objective on shares of Bank OZK from $56.00 to $57.00 and gave the company an “underweight” rating in a research note on Monday, September 28th. TD Cowen dropped their target price on Bank OZK from $52.00 to $50.00 and set a “hold” rating on the stock in a research report on Monday, October 5th. Citigroup reiterated a “sell” rating on shares of Bank OZK in a report on Tuesday, October 6th. Finally, Wall Street Zen raised Bank OZK from a “sell” rating to a “hold” rating in a research note on Sunday, September 27th. 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $55.33.

About Bank OZK

Bank OZK (NASDAQ:OZK) is a regional financial institution headquartered in Little Rock, Arkansas. The company provides banking services to individuals, businesses and institutions, including deposit accounts, commercial and consumer loans, mortgage lending, treasury management and online and mobile banking.

Bank OZK also operates specialized lending businesses, including its Real Estate Specialties Group, which provides financing for commercial real estate development and other complex real estate projects.