Newport Trust Company LLC Has $28.78 Million Position in Bank OZK $OZK

Newport Trust Company LLC increased its position in Bank OZK (NASDAQ:OZK) by 5.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 625,411 shares of the company’s stock after buying an additional 32,676 shares during the period. Newport Trust Company LLC owned 0.56% of Bank OZK worth $28,781,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in shares of Bank OZK by 37.8% in the first quarter. Royal Bank of Canada now owns 41,257 shares of the company’s stock valued at $1,792,000 after acquiring an additional 11,310 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Bank OZK by 14.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,690 shares of the company’s stock worth $2,029,000 after purchasing an additional 5,717 shares during the period. Empowered Funds LLC lifted its holdings in shares of Bank OZK by 1.8% during the first quarter. Empowered Funds LLC now owns 60,037 shares of the company’s stock valued at $2,609,000 after acquiring an additional 1,058 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Bank OZK by 8.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 349,749 shares of the company’s stock valued at $15,197,000 after acquiring an additional 26,676 shares during the period. Finally, Focus Partners Wealth increased its stake in shares of Bank OZK by 11.0% in the first quarter. Focus Partners Wealth now owns 17,711 shares of the company’s stock valued at $770,000 after buying an additional 1,756 shares in the last quarter. Institutional investors and hedge funds own 86.18% of the company’s stock.

Analysts Set New Price Targets

OZK has been the subject of a number of research reports. Piper Sandler set a $62.00 price objective on Bank OZK in a research report on Thursday, January 22nd. Stephens decreased their price objective on Bank OZK from $64.00 to $62.00 and set an “overweight” rating for the company in a research report on Thursday, January 22nd. TD Cowen decreased their price objective on Bank OZK from $56.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, January 22nd. Morgan Stanley boosted their price objective on Bank OZK from $57.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. Finally, Weiss Ratings upgraded Bank OZK from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, April 21st. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $56.89.

Bank OZK Stock Performance

NASDAQ:OZK opened at $48.17 on Friday. The stock’s 50-day simple moving average is $46.72 and its 200 day simple moving average is $46.95. Bank OZK has a twelve month low of $42.37 and a twelve month high of $53.66. The firm has a market capitalization of $5.39 billion, a PE ratio of 7.85 and a beta of 0.91. The company has a quick ratio of 1.02, a current ratio of 1.00 and a debt-to-equity ratio of 0.14.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.02). Bank OZK had a return on equity of 12.32% and a net margin of 25.27%.The company had revenue of $424.32 million during the quarter, compared to analyst estimates of $422.62 million. During the same period in the prior year, the firm earned $1.47 earnings per share. Bank OZK’s revenue was up 2.2% compared to the same quarter last year. On average, analysts anticipate that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 20th. Stockholders of record on Monday, April 13th were issued a dividend of $0.47 per share. The ex-dividend date was Monday, April 13th. This represents a $1.88 annualized dividend and a dividend yield of 3.9%. Bank OZK’s payout ratio is currently 30.62%.

About Bank OZK

Bank OZK, formerly known as Bank of the Ozarks, is a regional commercial bank headquartered in Little Rock, Arkansas. Established in 1903, the bank offers a full suite of banking products and services to both individual and corporate clients. Through a combination of organic growth and targeted acquisitions, Bank OZK has built a diversified lending portfolio and a strong deposit franchise.

The bank’s core operations focus on commercial real estate lending, including acquisition, development and construction financing.