Assetmark Inc. Purchases 411 Shares of Bank OZK (NASDAQ:OZK)

Assetmark Inc. grew its position in shares of Bank OZK (NASDAQ:OZK) by 73.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 968 shares of the company’s stock after buying an additional 411 shares during the quarter. Assetmark Inc.’s holdings in Bank OZK were worth $42,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. LRI Investments LLC bought a new stake in shares of Bank OZK in the 1st quarter worth approximately $29,000. PSI Advisors LLC raised its stake in shares of Bank OZK by 20,933.3% in the second quarter. PSI Advisors LLC now owns 631 shares of the company’s stock valued at $26,000 after buying an additional 628 shares during the period. Versant Capital Management Inc lifted its position in shares of Bank OZK by 423.0% during the 2nd quarter. Versant Capital Management Inc now owns 978 shares of the company’s stock valued at $40,000 after buying an additional 791 shares during the last quarter. American National Bank & Trust bought a new position in shares of Bank OZK during the 3rd quarter worth $44,000. Finally, Innealta Capital LLC purchased a new stake in Bank OZK in the 2nd quarter worth about $46,000. Institutional investors own 86.18% of the company’s stock.

Bank OZK Stock Down 0.5 %

Shares of NASDAQ:OZK opened at $48.23 on Tuesday. The firm has a fifty day moving average price of $43.65 and a two-hundred day moving average price of $43.17. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 7.93 and a beta of 1.16. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. Bank OZK has a one year low of $37.43 and a one year high of $52.36.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings data on Thursday, October 17th. The company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.02. Bank OZK had a return on equity of 14.15% and a net margin of 26.07%. The company had revenue of $423.00 million for the quarter, compared to the consensus estimate of $419.08 million. Analysts anticipate that Bank OZK will post 6.03 EPS for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 11th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend was Friday, October 11th. This is an increase from Bank OZK’s previous quarterly dividend of $0.40. Bank OZK’s dividend payout ratio (DPR) is 26.97%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Morgan Stanley upped their price objective on shares of Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Raymond James downgraded shares of Bank OZK from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 17th. Piper Sandler boosted their target price on shares of Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Stephens increased their target price on Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, October 21st. Finally, Truist Financial reduced their price target on Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company in a research report on Monday, October 21st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $48.50.

Bank OZK 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.