BlackDiamond Wealth Management LLC Trims Stock Position in Bank OZK (NASDAQ:OZK)

BlackDiamond Wealth Management LLC cut its holdings in shares of Bank OZK (NASDAQ:OZK) by 16.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,550 shares of the company’s stock after selling 1,885 shares during the quarter. BlackDiamond Wealth Management LLC’s holdings in Bank OZK were worth $425,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. State Street Corp lifted its position in Bank OZK by 7.3% during the third quarter. State Street Corp now owns 7,106,907 shares of the company’s stock worth $305,526,000 after buying an additional 485,172 shares during the period. Wellington Management Group LLP raised its holdings in shares of Bank OZK by 32.7% in the 3rd quarter. Wellington Management Group LLP now owns 4,223,452 shares of the company’s stock worth $181,566,000 after purchasing an additional 1,041,198 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Bank OZK by 4.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,130,006 shares of the company’s stock worth $183,909,000 after purchasing an additional 188,575 shares during the period. Geode Capital Management LLC raised its holdings in shares of Bank OZK by 6.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,022,979 shares of the company’s stock worth $86,989,000 after purchasing an additional 126,352 shares during the period. Finally, Captrust Financial Advisors raised its holdings in shares of Bank OZK by 124.6% in the 3rd quarter. Captrust Financial Advisors now owns 1,698,856 shares of the company’s stock worth $73,034,000 after purchasing an additional 942,309 shares during the period. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

Bank OZK Price Performance

OZK stock opened at $44.26 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.02 and a current ratio of 1.03. Bank OZK has a 1 year low of $37.43 and a 1 year high of $53.64. The firm has a market cap of $5.02 billion, a P/E ratio of 7.21 and a beta of 1.23. The stock has a 50-day simple moving average of $48.11 and a 200-day simple moving average of $45.93.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings data on Thursday, January 16th. The company reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.12. Bank OZK had a return on equity of 13.90% and a net margin of 25.83%. The firm had revenue of $412.34 million during the quarter, compared to analyst estimates of $407.19 million. During the same quarter last year, the firm earned $1.50 EPS. Bank OZK’s quarterly revenue was up 1.2% on a year-over-year basis. On average, equities 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. Shareholders of record on Tuesday, January 14th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend was Tuesday, January 14th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.41. Bank OZK’s dividend payout ratio (DPR) is 27.36%.

Analyst Ratings Changes

OZK has been the topic of a number of research reports. UBS Group initiated coverage on Bank OZK in a report on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 price objective on the stock. Wells Fargo & Company upgraded Bank OZK from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $40.00 to $48.00 in a report on Tuesday, January 21st. Stephens raised their price objective on Bank OZK from $53.00 to $57.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, Morgan Stanley lowered their target price on 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 investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.38.

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.