Charles Schwab Investment Management Inc. Grows Stock Holdings in Bank OZK (NASDAQ:OZK)

Charles Schwab Investment Management Inc. boosted its holdings in Bank OZK (NASDAQ:OZK) by 2.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,941,431 shares of the company’s stock after purchasing an additional 112,648 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Bank OZK were worth $169,442,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of OZK. PSI Advisors LLC boosted its position in shares of Bank OZK by 20,933.3% during the second quarter. PSI Advisors LLC now owns 631 shares of the company’s stock worth $26,000 after acquiring an additional 628 shares during the last quarter. LRI Investments LLC bought a new position in shares of Bank OZK during the 1st quarter valued at about $29,000. Versant Capital Management Inc grew its position in shares of Bank OZK by 423.0% during the second quarter. Versant Capital Management Inc now owns 978 shares of the company’s stock valued at $40,000 after purchasing an additional 791 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Bank OZK by 73.8% in the third quarter. Assetmark Inc. now owns 968 shares of the company’s stock worth $42,000 after purchasing an additional 411 shares during the last quarter. Finally, American National Bank & Trust purchased a new stake in shares of Bank OZK in the third quarter worth about $44,000. 86.18% of the stock is owned by institutional investors.

Bank OZK Stock Performance

Bank OZK stock opened at $49.33 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $5.60 billion, a P/E ratio of 8.11 and a beta of 1.16. Bank OZK has a 1-year low of $37.43 and a 1-year high of $52.36. The company’s 50-day moving average is $44.45 and its 200 day moving average is $43.25.

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

Bank OZK Increases Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 3.32%. This is an increase from Bank OZK’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, October 11th. Bank OZK’s dividend payout ratio (DPR) is 26.97%.

Analyst Upgrades and Downgrades

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

About Bank OZK

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.