Redmont Wealth Advisors LLC Trims Holdings in Bank OZK $OZK

Redmont Wealth Advisors LLC decreased its stake in shares of Bank OZK (NASDAQ:OZK) by 87.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,748 shares of the company’s stock after selling 12,072 shares during the quarter. Redmont Wealth Advisors LLC’s holdings in Bank OZK were worth $80,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Root Financial Partners LLC purchased a new position in Bank OZK during the third quarter worth approximately $27,000. BOKF NA purchased a new position in Bank OZK during the third quarter worth approximately $27,000. V Square Quantitative Management LLC purchased a new position in Bank OZK during the fourth quarter worth approximately $25,000. Bayforest Capital Ltd lifted its position in Bank OZK by 100.5% during the fourth quarter. Bayforest Capital Ltd now owns 766 shares of the company’s stock worth $35,000 after buying an additional 384 shares in the last quarter. Finally, Employees Retirement System of Texas purchased a new position in Bank OZK during the third quarter worth approximately $51,000. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. UBS Group assumed coverage on shares of Bank OZK in a report on Tuesday, April 7th. They issued a “neutral” rating and a $48.00 target price on the stock. Wall Street Zen upgraded shares of Bank OZK from a “sell” rating to a “hold” rating in a report on Sunday. TD Cowen decreased their target price on shares of Bank OZK from $56.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, January 22nd. Wells Fargo & Company boosted their target price on shares of Bank OZK from $48.00 to $50.00 and gave the company an “equal weight” rating in a report on Monday, March 30th. Finally, Morgan Stanley boosted their target price on shares of Bank OZK from $57.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Bank OZK has a consensus rating of “Hold” and a consensus price target of $56.89.

Bank OZK Stock Down 0.6%

Shares of NASDAQ:OZK opened at $47.03 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.00 and a quick ratio of 1.02. The firm has a market capitalization of $5.26 billion, a PE ratio of 7.66 and a beta of 0.91. The firm’s 50-day moving average is $46.58 and its two-hundred day moving average is $46.91. Bank OZK has a 1 year low of $42.37 and a 1 year high of $53.66.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.02). The business had revenue of $424.32 million for the quarter, compared to analysts’ expectations of $422.62 million. Bank OZK had a return on equity of 12.32% and a net margin of 25.27%.The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the company earned $1.47 earnings per share. Analysts predict that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 20th. Shareholders of record on Monday, April 13th were paid a dividend of $0.47 per share. The ex-dividend date was Monday, April 13th. This represents a $1.88 dividend on an annualized basis and a yield of 4.0%. Bank OZK’s dividend payout ratio is 30.62%.

About Bank OZK

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.