Naviter Wealth LLC Increases Holdings in Bank OZK (NASDAQ:OZK)

Naviter Wealth LLC raised its holdings in Bank OZK (NASDAQ:OZK) by 50.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 51,457 shares of the company’s stock after buying an additional 17,192 shares during the quarter. Naviter Wealth LLC’s holdings in Bank OZK were worth $2,339,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Principal Securities Inc. purchased a new stake in Bank OZK in the fourth quarter worth $31,000. Bare Financial Services Inc purchased a new position in Bank OZK during the fourth quarter valued at $36,000. SRS Capital Advisors Inc. increased its holdings in shares of Bank OZK by 303.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 929 shares of the company’s stock valued at $46,000 after acquiring an additional 699 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Bank OZK by 601.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,402 shares of the company’s stock worth $69,000 after buying an additional 1,202 shares during the last quarter. Finally, MCF Advisors LLC bought a new stake in shares of Bank OZK during the fourth quarter valued at approximately $73,000. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Bank OZK Price Performance

Shares of NASDAQ:OZK traded up $0.46 during trading on Tuesday, hitting $41.25. 1,392,930 shares of the company’s stock were exchanged, compared to its average volume of 1,281,264. The business’s 50-day simple moving average is $43.23 and its 200 day simple moving average is $44.55. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 6.91 and a beta of 1.20. Bank OZK has a 52-week low of $34.76 and a 52-week high of $52.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.01 and a quick ratio of 1.01.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings data on Thursday, April 18th. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.07. The firm had revenue of $406.02 million during the quarter, compared to analyst estimates of $396.81 million. Bank OZK had a return on equity of 14.84% and a net margin of 28.54%. During the same quarter last year, the business posted $1.41 earnings per share. As a group, equities analysts predict that Bank OZK will post 6.1 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. StockNews.com raised Bank OZK from a “sell” rating to a “hold” rating in a report on Thursday, May 30th. Wells Fargo & Company cut their price objective on shares of Bank OZK from $39.00 to $35.00 and set an “underweight” rating for the company in a research report on Thursday, June 6th. Citigroup cut Bank OZK from a “buy” rating to a “sell” rating and decreased their target price for the stock from $57.00 to $37.00 in a report on Wednesday, May 29th. Keefe, Bruyette & Woods upped their price target on Bank OZK from $45.00 to $47.00 and gave the stock a “market perform” rating in a research report on Monday, April 22nd. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $48.00 price objective on shares of Bank OZK in a research note on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $46.00.

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.