PNC Financial Services Group Inc. Buys 445 Shares of Bank OZK (NASDAQ:OZK)

PNC Financial Services Group Inc. lifted its stake in shares of Bank OZK (NASDAQ:OZK) by 8.3% during the 4th quarter, HoldingsChannel reports. The firm owned 5,832 shares of the company’s stock after acquiring an additional 445 shares during the period. PNC Financial Services Group Inc.’s holdings in Bank OZK were worth $260,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in OZK. Natixis Advisors LLC grew its holdings in shares of Bank OZK by 20.7% during the 3rd quarter. Natixis Advisors LLC now owns 19,228 shares of the company’s stock valued at $827,000 after purchasing an additional 3,303 shares during the last quarter. Caprock Group LLC boosted its position in Bank OZK by 10.5% during the 3rd quarter. Caprock Group LLC now owns 6,805 shares of the company’s stock worth $293,000 after buying an additional 645 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Bank OZK by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,941,431 shares of the company’s stock worth $169,442,000 after buying an additional 112,648 shares during the period. Raymond James Trust N.A. boosted its position in Bank OZK by 6.0% during the 3rd quarter. Raymond James Trust N.A. now owns 7,184 shares of the company’s stock worth $309,000 after buying an additional 407 shares during the period. Finally, Citigroup Inc. boosted its position in Bank OZK by 5.5% during the 3rd quarter. Citigroup Inc. now owns 290,787 shares of the company’s stock worth $12,501,000 after buying an additional 15,265 shares during the period. 86.18% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on OZK. Wells Fargo & Company upgraded shares of Bank OZK from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $40.00 to $48.00 in a research report on Tuesday, January 21st. UBS Group began coverage on shares of Bank OZK in a research report on Tuesday, December 17th. They set a “neutral” rating and a $51.00 target price on the stock. Stephens lifted their target price on shares of Bank OZK from $53.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Finally, Morgan Stanley cut their target price on shares of Bank OZK from $58.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $50.38.

Bank OZK Stock Up 0.4 %

Shares of NASDAQ OZK opened at $44.31 on Friday. The company has a market capitalization of $5.03 billion, a P/E ratio of 7.22 and a beta of 1.23. Bank OZK has a 52-week low of $37.43 and a 52-week high of $53.64. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.02 and a current ratio of 1.03. The company’s 50 day moving average price is $48.23 and its 200-day moving average price is $45.94.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings results on Thursday, January 16th. The company reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.12. The firm had revenue of $412.34 million for the quarter, compared to the consensus estimate of $407.19 million. Bank OZK had a net margin of 25.83% and a return on equity of 13.90%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.50 EPS. Equities analysts forecast that Bank OZK will post 6.02 earnings per share for the current year.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 14th were paid a $0.42 dividend. The ex-dividend date of this dividend was Tuesday, January 14th. This represents a $1.68 annualized dividend and a dividend yield of 3.79%. This is a positive change from Bank OZK’s previous quarterly dividend of $0.41. Bank OZK’s payout ratio is currently 27.36%.

Bank OZK Company Profile

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.