SummitTX Capital L.P. Takes Position in Bank OZK $OZK

SummitTX Capital L.P. bought a new position in shares of Bank OZK (NASDAQ:OZK) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 60,870 shares of the company’s stock, valued at approximately $2,793,000.

Other large investors also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in Bank OZK during the 4th quarter valued at about $25,000. BOKF NA bought a new position in Bank OZK during the 3rd quarter valued at approximately $27,000. Bayforest Capital Ltd lifted its holdings in Bank OZK by 100.5% in the 4th quarter. Bayforest Capital Ltd now owns 766 shares of the company’s stock worth $35,000 after buying an additional 384 shares during the period. Eurizon Capital SGR S.p.A. purchased a new stake in Bank OZK in the 4th quarter worth approximately $36,000. Finally, Transamerica Financial Advisors LLC grew its position in shares of Bank OZK by 111.2% in the 4th quarter. Transamerica Financial Advisors LLC now owns 830 shares of the company’s stock worth $38,000 after buying an additional 437 shares during the last quarter. 86.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on OZK. Wall Street Zen cut Bank OZK from a “hold” rating to a “sell” rating in a research note on Saturday. Wells Fargo & Company lifted their price target on shares of Bank OZK from $50.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Weiss Ratings upgraded shares of Bank OZK from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, June 23rd. UBS Group lifted their target price on shares of Bank OZK from $50.00 to $51.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Morgan Stanley boosted their price target on shares of Bank OZK from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.38.

Bank OZK Trading Up 2.2%

NASDAQ OZK opened at $51.50 on Wednesday. The firm has a market capitalization of $5.76 billion, a PE ratio of 8.51 and a beta of 0.89. The stock’s 50 day moving average is $50.16 and its 200 day moving average is $48.35. Bank OZK has a twelve month low of $42.37 and a twelve month high of $53.66. 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 (NASDAQ:OZK) last posted its quarterly earnings data on Tuesday, July 21st. The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.01. The business had revenue of $430.02 million during 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 firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.47 earnings per share. Research analysts forecast that Bank OZK will post 5.88 earnings per share for the current fiscal year.

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

Bank OZK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Monday, July 13th were given a $0.48 dividend. The ex-dividend date of this dividend was Monday, July 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.7%. This is a boost from Bank OZK’s previous quarterly dividend of $0.47. Bank OZK’s payout ratio is currently 31.74%.

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.