Redmont Wealth Advisors LLC Raises Position in Bank OZK (NASDAQ:OZK)

Redmont Wealth Advisors LLC raised its holdings in shares of Bank OZK (NASDAQ:OZK) by 36.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,542 shares of the company’s stock after acquiring an additional 4,462 shares during the period. Bank OZK makes up about 1.2% of Redmont Wealth Advisors LLC’s investment portfolio, making the stock its 22nd largest position. Redmont Wealth Advisors LLC’s holdings in Bank OZK were worth $824,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Lazard Asset Management LLC purchased a new stake in shares of Bank OZK during the 1st quarter valued at $25,000. Geneos Wealth Management Inc. increased its stake in Bank OZK by 94.0% in the first quarter. Geneos Wealth Management Inc. now owns 776 shares of the company’s stock valued at $33,000 after acquiring an additional 376 shares during the last quarter. Covestor Ltd increased its stake in Bank OZK by 56.6% in the first quarter. Covestor Ltd now owns 896 shares of the company’s stock valued at $38,000 after acquiring an additional 324 shares during the last quarter. Quarry LP raised its position in Bank OZK by 235.2% during the first quarter. Quarry LP now owns 1,106 shares of the company’s stock valued at $38,000 after purchasing an additional 776 shares in the last quarter. Finally, Coppell Advisory Solutions Corp. bought a new stake in Bank OZK during the fourth quarter worth about $42,000. 86.18% of the stock is currently owned by institutional investors.

Bank OZK Trading Up 1.8 %

OZK traded up $0.79 during trading on Friday, hitting $44.59. 843,455 shares of the stock traded hands, compared to its average volume of 1,188,563. The firm has a market capitalization of $5.05 billion, a P/E ratio of 7.34 and a beta of 1.27. Bank OZK has a 12-month low of $30.72 and a 12-month high of $52.36. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a 50-day moving average of $43.34 and a 200 day moving average of $43.15.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings data on Wednesday, April 17th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.44 by $0.07. The firm had revenue of $406.02 million during the quarter, compared to the consensus estimate of $396.81 million. Bank OZK had a net margin of 28.54% and a return on equity of 15.10%. During the same period in the prior year, the firm posted $1.41 earnings per share. Equities research analysts anticipate that Bank OZK will post 5.87 EPS for the current year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 19th. Shareholders of record on Friday, April 12th will be given a dividend of $0.39 per share. This is a positive change from Bank OZK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $1.56 dividend on an annualized basis and a yield of 3.50%. Bank OZK’s dividend payout ratio is presently 26.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on OZK shares. Truist Financial decreased their price objective on Bank OZK from $52.00 to $48.00 and set a “hold” rating on the stock in a report on Monday, April 1st. Wells Fargo & Company reduced their price target on shares of Bank OZK from $41.00 to $39.00 and set an “underweight” rating on the stock in a research report on Thursday, February 1st. StockNews.com lowered shares of Bank OZK from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. Citigroup cut their price objective on shares of Bank OZK from $62.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. Finally, UBS Group cut shares of Bank OZK from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Bank OZK currently has a consensus rating of “Hold” and an average price target of $48.14.

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.