Abich Financial Wealth Management LLC Invests $49,000 in Bank OZK (NASDAQ:OZK)

Abich Financial Wealth Management LLC acquired a new stake in shares of Bank OZK (NASDAQ:OZK) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,190 shares of the company’s stock, valued at approximately $49,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Bank OZK by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 12,028,779 shares of the company’s stock worth $599,394,000 after purchasing an additional 502,005 shares in the last quarter. Van Berkom & Associates Inc. raised its position in Bank OZK by 2.0% during the second quarter. Van Berkom & Associates Inc. now owns 2,024,130 shares of the company’s stock valued at $82,989,000 after acquiring an additional 40,356 shares in the last quarter. Wellington Management Group LLP lifted its stake in Bank OZK by 18.8% in the fourth quarter. Wellington Management Group LLP now owns 1,897,696 shares of the company’s stock valued at $94,562,000 after acquiring an additional 300,025 shares during the last quarter. American Century Companies Inc. grew its position in Bank OZK by 21.9% in the second quarter. American Century Companies Inc. now owns 1,642,293 shares of the company’s stock worth $67,334,000 after acquiring an additional 295,298 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Bank OZK by 4.2% in the fourth quarter. First Trust Advisors LP now owns 1,279,876 shares of the company’s stock worth $63,776,000 after acquiring an additional 51,379 shares in the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Bank OZK Price Performance

Shares of NASDAQ:OZK opened at $40.66 on Thursday. The company has a market cap of $4.61 billion, a price-to-earnings ratio of 6.81 and a beta of 1.17. The business has a 50 day moving average price of $42.63 and a 200 day moving average price of $43.11. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.17. Bank OZK has a twelve month low of $34.76 and a twelve month high of $52.36.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $1.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.52. The business had revenue of $416.78 million for the quarter, compared to the consensus estimate of $414.39 million. Bank OZK had a net margin of 27.04% and a return on equity of 14.50%. Bank OZK’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company posted $1.47 earnings per share. Research analysts predict that Bank OZK will post 5.98 earnings per share for the current year.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 12th were issued a dividend of $0.40 per share. This is an increase from Bank OZK’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, July 12th. This represents a $1.60 annualized dividend and a dividend yield of 3.94%. Bank OZK’s payout ratio is presently 26.80%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on OZK. Truist Financial reduced their price objective on shares of Bank OZK from $49.00 to $48.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Wells Fargo & Company reduced their price target on Bank OZK from $39.00 to $35.00 and set an “underweight” rating for the company in a research report on Thursday, June 6th. Morgan Stanley increased their price objective on Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Citigroup downgraded Bank OZK from a “buy” rating to a “sell” rating and cut their price objective for the company from $57.00 to $37.00 in a research note on Wednesday, May 29th. Finally, Stephens reaffirmed an “equal weight” rating and set a $50.00 target price on shares of Bank OZK in a research report on Thursday, July 18th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $46.57.

About Bank OZK

Bank OZK provides various retail and commercial banking services for individuals and businesses in the United States. The company offers deposit services, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time and reciprocal deposits.