Sanctuary Advisors LLC Makes New $1.29 Million Investment in Bank OZK (NASDAQ:OZK)

Sanctuary Advisors LLC bought a new position in shares of Bank OZK (NASDAQ:OZK) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 31,501 shares of the company’s stock, valued at approximately $1,292,000.

Several other institutional investors and hedge funds have also made changes to their positions in OZK. PSI Advisors LLC boosted its stake in Bank OZK by 20,933.3% during the 2nd quarter. PSI Advisors LLC now owns 631 shares of the company’s stock worth $26,000 after purchasing an additional 628 shares during the period. LRI Investments LLC acquired a new stake in shares of Bank OZK during the first quarter worth about $29,000. Versant Capital Management Inc grew its holdings in shares of Bank OZK by 423.0% during the second quarter. Versant Capital Management Inc now owns 978 shares of the company’s stock worth $40,000 after buying an additional 791 shares during the last quarter. Innealta Capital LLC acquired a new position in Bank OZK in the 2nd quarter valued at about $46,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in Bank OZK during the 2nd quarter valued at approximately $49,000. 86.18% of the stock is owned by hedge funds and other institutional investors.

Bank OZK Stock Performance

OZK opened at $42.38 on Friday. Bank OZK has a 1-year low of $34.76 and a 1-year high of $52.36. The stock’s 50 day simple moving average is $41.77 and its 200 day simple moving average is $43.02. The stock has a market cap of $4.81 billion, a P/E ratio of 7.10 and a beta of 1.17. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.02 and a quick ratio of 1.02.

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, meeting the consensus estimate of $1.52. Bank OZK had a net margin of 27.04% and a return on equity of 14.50%. The company had revenue of $416.78 million during the quarter, compared to analysts’ expectations of $414.39 million. During the same period in the previous year, the company earned $1.47 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts anticipate that Bank OZK will post 6.01 EPS for the current fiscal year.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, October 11th will be paid a $0.41 dividend. This is a positive change from Bank OZK’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 3.87%. The ex-dividend date is Friday, October 11th. Bank OZK’s payout ratio is currently 27.47%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Truist Financial lowered their target price on Bank OZK from $49.00 to $48.00 and set a “hold” rating on the stock in a research note on Friday, September 20th. Raymond James cut shares of Bank OZK from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. StockNews.com upgraded shares of Bank OZK from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Morgan Stanley boosted their price target on shares of Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Finally, Stephens restated an “equal weight” rating and issued a $50.00 price objective 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.