Cornerstone Wealth Management LLC Makes New Investment in Bank OZK (NASDAQ:OZK)

Cornerstone Wealth Management LLC acquired a new position in shares of Bank OZK (NASDAQ:OZK) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 5,090 shares of the company’s stock, valued at approximately $219,000.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in 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 buying an additional 502,005 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Bank OZK by 291.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,371,892 shares of the company’s stock valued at $95,848,000 after acquiring an additional 1,765,974 shares during the period. Van Berkom & Associates Inc. raised its position in Bank OZK by 2.0% in the 2nd quarter. Van Berkom & Associates Inc. now owns 2,024,130 shares of the company’s stock valued at $82,989,000 after purchasing an additional 40,356 shares during the last quarter. Wellington Management Group LLP boosted its stake in Bank OZK by 18.8% during the 4th quarter. Wellington Management Group LLP now owns 1,897,696 shares of the company’s stock worth $94,562,000 after purchasing an additional 300,025 shares during the period. Finally, American Century Companies Inc. grew its position in Bank OZK by 21.9% during the 2nd quarter. American Century Companies Inc. now owns 1,642,293 shares of the company’s stock worth $67,334,000 after purchasing an additional 295,298 shares during the last quarter. Institutional investors and hedge funds own 86.18% of the company’s stock.

Analysts Set New Price Targets

OZK has been the subject of a number of research reports. Stephens reaffirmed an “equal weight” rating and issued a $50.00 target price on shares of Bank OZK in a report on Thursday, July 18th. Raymond James cut Bank OZK from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. StockNews.com raised Bank OZK from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Morgan Stanley increased their price target on Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Finally, Truist Financial lowered their price objective on shares of Bank OZK from $49.00 to $48.00 and set a “hold” rating on the stock in a research report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $48.63.

Bank OZK Trading Down 4.5 %

Shares of OZK stock opened at $44.67 on Friday. The business’s fifty day moving average price is $42.19 and its 200 day moving average price is $43.02. The firm has a market capitalization of $5.07 billion, a PE ratio of 7.42 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 has a 1-year low of $34.76 and a 1-year high of $52.36.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $1.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.52. Bank OZK had a net margin of 27.04% and a return on equity of 14.50%. The business had revenue of $416.78 million for the quarter, compared to analysts’ expectations of $414.39 million. During the same period in the prior year, the company posted $1.47 EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, sell-side analysts forecast that Bank OZK will post 6 EPS for the current fiscal year.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 11th were issued a $0.41 dividend. The ex-dividend date of this dividend was Friday, October 11th. This is a boost from Bank OZK’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 3.67%. Bank OZK’s dividend payout ratio (DPR) is 27.24%.

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.