Redmont Wealth Advisors LLC Makes New Investment in Bank OZK $OZK

Redmont Wealth Advisors LLC bought a new stake in Bank OZK (NASDAQ:OZK) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 13,820 shares of the company’s stock, valued at approximately $705,000. Bank OZK makes up approximately 1.0% of Redmont Wealth Advisors LLC’s holdings, making the stock its 28th biggest holding.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Bank OZK in the 2nd quarter valued at $68,960,000. Mackenzie Financial Corp increased its position in Bank OZK by 767.1% in the 2nd quarter. Mackenzie Financial Corp now owns 566,662 shares of the company’s stock valued at $26,667,000 after acquiring an additional 501,308 shares during the period. Senvest Management LLC raised its stake in shares of Bank OZK by 24.4% during the second quarter. Senvest Management LLC now owns 1,581,582 shares of the company’s stock valued at $74,429,000 after acquiring an additional 310,707 shares during the last quarter. Fairholme Capital Management LLC lifted its holdings in shares of Bank OZK by 45.1% during the second quarter. Fairholme Capital Management LLC now owns 916,752 shares of the company’s stock worth $43,142,000 after purchasing an additional 285,150 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Bank OZK by 57.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 694,956 shares of the company’s stock valued at $32,705,000 after purchasing an additional 253,001 shares during the period. 86.18% of the stock is currently owned by institutional investors and hedge funds.

Bank OZK Stock Down 0.1%

OZK opened at $49.48 on Thursday. Bank OZK has a fifty-two week low of $35.71 and a fifty-two week high of $53.66. The firm has a market capitalization of $5.54 billion, a P/E ratio of 8.02 and a beta of 0.94. The company’s 50-day moving average is $48.05 and its 200 day moving average is $48.41. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.02 and a quick ratio of 1.03.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings data on Tuesday, January 20th. The company reported $1.53 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.03). Bank OZK had a net margin of 25.50% and a return on equity of 12.65%. The firm had revenue of $436.29 million during the quarter, compared to analysts’ expectations of $434.68 million. During the same quarter last year, the business posted $1.56 EPS. Research analysts expect that Bank OZK will post 6.02 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 20th. Shareholders of record on Tuesday, January 13th were given a $0.46 dividend. This is an increase from Bank OZK’s previous quarterly dividend of $0.45. This represents a $1.84 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, January 13th. Bank OZK’s payout ratio is presently 29.82%.

Analyst Ratings Changes

OZK has been the topic of several recent research reports. Citigroup reaffirmed a “sell” rating on shares of Bank OZK in a report on Monday, January 5th. Zacks Research upgraded shares of Bank OZK from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Bank OZK in a research note on Tuesday, January 27th. TD Cowen reduced their price objective on shares of Bank OZK from $56.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. Finally, UBS Group reiterated a “neutral” rating and issued a $51.00 price target on shares of Bank OZK in a report on Tuesday, January 6th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Bank OZK has a consensus rating of “Hold” and a consensus price target of $56.78.

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.