Strategic Financial Concepts LLC Invests $545,000 in Bank OZK (NASDAQ:OZK)

Strategic Financial Concepts LLC bought a new position in shares of Bank OZK (NASDAQ:OZK) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 12,246 shares of the company’s stock, valued at approximately $545,000.

Several other hedge funds have also added to or reduced their stakes in the company. Assetmark Inc. lifted its position in Bank OZK by 73.8% during the 3rd quarter. Assetmark Inc. now owns 968 shares of the company’s stock valued at $42,000 after purchasing an additional 411 shares during the period. Capital Performance Advisors LLP acquired a new position in Bank OZK in the third quarter valued at approximately $61,000. Venturi Wealth Management LLC boosted its stake in Bank OZK by 424.8% in the third quarter. Venturi Wealth Management LLC now owns 1,590 shares of the company’s stock valued at $68,000 after acquiring an additional 1,287 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new stake in Bank OZK during the 4th quarter worth $93,000. Finally, R Squared Ltd bought a new stake in shares of Bank OZK during the 4th quarter valued at $149,000. Institutional investors own 86.18% of the company’s stock.

Wall Street Analyst Weigh In

OZK has been the topic of several analyst reports. Piper Sandler increased their target price on Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Stephens lifted their price objective on shares of Bank OZK from $53.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. UBS Group assumed coverage on shares of Bank OZK in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 target price for the company. Wells Fargo & Company raised shares of Bank OZK from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $40.00 to $48.00 in a research report on Tuesday, January 21st. Finally, Truist Financial lowered their price objective on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company in a research report on Monday, October 21st. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $50.00.

Bank OZK Price Performance

Shares of NASDAQ OZK opened at $53.10 on Wednesday. The company has a fifty day moving average price of $47.11 and a 200 day moving average price of $45.05. The firm has a market cap of $6.02 billion, a PE ratio of 8.65 and a beta of 1.20. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.16. Bank OZK has a 1-year low of $37.43 and a 1-year high of $53.64.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings data on Thursday, January 16th. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.12. Bank OZK had a return on equity of 13.90% and a net margin of 25.83%. The company had revenue of $412.34 million during the quarter, compared to analysts’ expectations of $407.19 million. During the same period in the prior year, the firm earned $1.50 earnings per share. Bank OZK’s revenue for the quarter was up 1.2% compared to the same quarter last year. Research analysts predict 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 21st. Stockholders of record on Tuesday, January 14th were issued a $0.42 dividend. The ex-dividend date was Tuesday, January 14th. This is an increase from Bank OZK’s previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.16%. Bank OZK’s dividend payout ratio (DPR) is 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.