Bank OZK $OZK Stock: Vest Financial LLC Boosts Stake

Vest Financial LLC grew its position in shares of Bank OZK (NASDAQ:OZK) by 7.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,100 shares of the company’s stock after purchasing an additional 10,983 shares during the period. Vest Financial LLC owned approximately 0.14% of Bank OZK worth $7,450,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Elevation Wealth Partners LLC lifted its holdings in shares of Bank OZK by 68.8% in the 3rd quarter. Elevation Wealth Partners LLC now owns 660 shares of the company’s stock valued at $30,000 after acquiring an additional 269 shares during the last quarter. IFP Advisors Inc boosted its holdings in Bank OZK by 1,307.5% during the 2nd quarter. IFP Advisors Inc now owns 746 shares of the company’s stock valued at $39,000 after acquiring an additional 693 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in shares of Bank OZK by 218.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,365 shares of the company’s stock worth $63,000 after purchasing an additional 937 shares during the last quarter. Miller Global Investments LLC bought a new position in Bank OZK in the 3rd quarter worth about $66,000. Finally, TD Waterhouse Canada Inc. grew its stake in Bank OZK by 2,064.3% in the third quarter. TD Waterhouse Canada Inc. now owns 1,818 shares of the company’s stock worth $84,000 after purchasing an additional 1,734 shares in the last quarter. Institutional investors own 86.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Weiss Ratings downgraded shares of Bank OZK from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 2nd. Zacks Research raised Bank OZK from a “strong sell” rating to a “hold” rating in a research report on Friday, September 25th. Piper Sandler reaffirmed an “overweight” rating and issued a $61.00 price target on shares of Bank OZK in a report on Wednesday, July 22nd. TD Cowen reduced their price objective on Bank OZK from $52.00 to $50.00 and set a “hold” rating for the company in a research note on Monday, October 5th. Finally, UBS Group boosted their target price on shares of Bank OZK from $50.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Bank OZK has an average rating of “Hold” and a consensus target price of $55.33.

Key Stories Impacting 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

Bank OZK Trading Up 3.3%

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

Bank OZK (NASDAQ:OZK) last announced its earnings results on Tuesday, October 20th. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.07. The business had revenue of $391.48 million during the quarter, compared to analysts’ expectations of $434.83 million. Bank OZK had a return on equity of 11.56% and a net margin of 24.70%. During the same quarter in the prior year, the firm earned $1.59 earnings per share. On average, equities research analysts forecast that Bank OZK will post 5.83 earnings per share for the current fiscal year.

Bank OZK announced that its Board of Directors has initiated a share buyback plan on Monday, June 29th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.4% of its shares through open market purchases. Share repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Bank OZK Increases Dividend

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

Bank OZK Profile

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.