Summit Investment Advisors Inc. Has $3.40 Million Holdings in Bank OZK $OZK

Summit Investment Advisors Inc. decreased its position in shares of Bank OZK (NASDAQ:OZK) by 3.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 78,347 shares of the company’s stock after selling 2,727 shares during the period. Summit Investment Advisors Inc.’s holdings in Bank OZK were worth $3,404,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in Bank OZK by 5.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,350,220 shares of the company’s stock worth $189,017,000 after acquiring an additional 220,214 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Bank OZK by 10.5% in the first quarter. American Century Companies Inc. now owns 2,405,292 shares of the company’s stock valued at $104,510,000 after buying an additional 228,295 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Bank OZK by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 1,127,576 shares of the company’s stock valued at $48,993,000 after buying an additional 23,492 shares during the last quarter. Newport Trust Company LLC lifted its position in Bank OZK by 0.6% during the 1st quarter. Newport Trust Company LLC now owns 656,987 shares of the company’s stock worth $28,546,000 after buying an additional 4,146 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its position in Bank OZK by 0.3% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 487,991 shares of the company’s stock worth $21,203,000 after buying an additional 1,563 shares in the last quarter. Institutional investors own 86.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on OZK shares. TD Cowen assumed coverage on shares of Bank OZK in a research report on Thursday, September 25th. They issued a “buy” rating and a $67.00 price objective for the company. Wells Fargo & Company increased their price target on shares of Bank OZK from $49.00 to $50.00 and gave the company an “equal weight” rating in a research note on Monday, September 29th. Cowen restated a “buy” rating on shares of Bank OZK in a research report on Tuesday, October 21st. Morgan Stanley upped their price objective on Bank OZK from $55.00 to $63.00 and gave the stock an “underperform” rating in a report on Monday, September 29th. Finally, Wall Street Zen cut Bank OZK from a “hold” rating to a “sell” rating in a research note on Saturday, November 1st. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Bank OZK currently has an average rating of “Hold” and an average price target of $58.75.

Bank OZK Price Performance

OZK opened at $44.38 on Friday. The company has a fifty day moving average price of $49.50 and a two-hundred day moving average price of $48.31. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.04 and a current ratio of 1.03. Bank OZK has a 52 week low of $35.71 and a 52 week high of $53.66. The firm has a market capitalization of $5.05 billion, a PE ratio of 7.16 and a beta of 0.94.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings results on Thursday, October 16th. The company reported $1.59 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.07). Bank OZK had a net margin of 25.81% and a return on equity of 13.00%. The company had revenue of $449.94 million during the quarter, compared to analyst estimates of $447.93 million. During the same period last year, the company earned $1.55 EPS. As a group, analysts anticipate that Bank OZK will post 6.02 earnings per share for the current year.

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Tuesday, October 14th were paid a $0.45 dividend. This is a boost from Bank OZK’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.1%. Bank OZK’s dividend payout ratio (DPR) is currently 29.03%.

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.