Summit Investment Advisors Inc. Has $3.61 Million Stake in Bank OZK (NASDAQ:OZK)

Summit Investment Advisors Inc. reduced its holdings in shares of Bank OZK (NASDAQ:OZK) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,074 shares of the company’s stock after selling 416 shares during the period. Summit Investment Advisors Inc. owned 0.07% of Bank OZK worth $3,610,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. O Shaughnessy Asset Management LLC grew its holdings in shares of Bank OZK by 1.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 11,184 shares of the company’s stock valued at $498,000 after acquiring an additional 193 shares in the last quarter. Bank of Montreal Can grew its stake in Bank OZK by 0.5% in the 4th quarter. Bank of Montreal Can now owns 46,832 shares of the company’s stock valued at $2,085,000 after purchasing an additional 241 shares during the period. M&T Bank Corp increased its position in shares of Bank OZK by 1.9% during the 3rd quarter. M&T Bank Corp now owns 13,432 shares of the company’s stock valued at $578,000 after purchasing an additional 244 shares during the last quarter. Principal Securities Inc. raised its stake in shares of Bank OZK by 12.7% during the 4th quarter. Principal Securities Inc. now owns 2,509 shares of the company’s stock worth $112,000 after purchasing an additional 283 shares during the period. Finally, Horrell Capital Management Inc. boosted its holdings in shares of Bank OZK by 0.3% in the 4th quarter. Horrell Capital Management Inc. now owns 106,878 shares of the company’s stock worth $4,759,000 after buying an additional 304 shares during the last quarter. 86.18% of the stock is owned by institutional investors.

Bank OZK Stock Up 0.9 %

Shares of NASDAQ:OZK opened at $37.97 on Monday. The firm has a market capitalization of $4.31 billion, a P/E ratio of 6.18 and a beta of 1.05. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.02 and a current ratio of 1.03. The stock has a 50 day moving average price of $45.58 and a 200-day moving average price of $45.93. Bank OZK has a 52-week low of $35.71 and a 52-week high of $53.64.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings data on Thursday, January 16th. The company reported $1.56 EPS for the quarter, topping the consensus estimate of $1.44 by $0.12. The business had revenue of $412.34 million for the quarter, compared to analyst estimates of $407.19 million. Bank OZK had a net margin of 25.83% and a return on equity of 13.90%. Bank OZK’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.50 earnings per share. As a group, equities research analysts anticipate that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 14th will be given a $0.43 dividend. The ex-dividend date of this dividend is Monday, April 14th. This is a boost from Bank OZK’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 4.53%. Bank OZK’s dividend payout ratio is 28.01%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on OZK. Stephens increased their price objective on Bank OZK from $53.00 to $57.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Wells Fargo & Company decreased their price objective on Bank OZK from $48.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, April 9th. UBS Group started coverage on shares of Bank OZK in a report on Tuesday, December 17th. They set a “neutral” rating and a $51.00 price objective on the stock. Finally, Morgan Stanley reduced their target price on shares of Bank OZK from $58.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $49.38.

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.