Cabot Wealth Management Inc. Has $13.91 Million Stock Position in Bank OZK $OZK

Cabot Wealth Management Inc. boosted its position in Bank OZK (NASDAQ:OZK) by 0.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 295,653 shares of the company’s stock after acquiring an additional 1,103 shares during the period. Bank OZK makes up about 1.7% of Cabot Wealth Management Inc.’s portfolio, making the stock its 20th largest position. Cabot Wealth Management Inc.’s holdings in Bank OZK were worth $13,913,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Focus Partners Advisor Solutions LLC lifted its stake in Bank OZK by 5.1% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 42,157 shares of the company’s stock valued at $1,984,000 after purchasing an additional 2,047 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in Bank OZK by 2.7% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 42,107 shares of the company’s stock valued at $1,982,000 after purchasing an additional 1,122 shares during the last quarter. AlphaQuest LLC lifted its stake in Bank OZK by 112.7% in the 2nd quarter. AlphaQuest LLC now owns 47,843 shares of the company’s stock valued at $2,251,000 after purchasing an additional 25,348 shares during the last quarter. R Squared Ltd lifted its stake in Bank OZK by 56.7% in the 2nd quarter. R Squared Ltd now owns 7,696 shares of the company’s stock valued at $362,000 after purchasing an additional 2,785 shares during the last quarter. Finally, Freedom Investment Management Inc. acquired a new stake in Bank OZK in the 2nd quarter valued at about $282,000. 86.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on OZK shares. Morgan Stanley raised their target price on shares of Bank OZK from $55.00 to $63.00 and gave the company an “underperform” rating in a research note on Monday, September 29th. Cowen reissued a “buy” rating on shares of Bank OZK in a report on Tuesday. Stephens raised shares of Bank OZK from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $58.00 to $65.00 in a report on Wednesday, August 20th. 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 report on Monday, September 29th. Finally, TD Cowen assumed coverage on shares of Bank OZK in a report on Thursday, September 25th. They issued a “buy” rating and a $67.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Bank OZK presently has a consensus rating of “Hold” and a consensus target price of $58.88.

Bank OZK Stock Up 1.5%

Shares of OZK opened at $45.74 on Friday. Bank OZK has a 12 month low of $35.71 and a 12 month high of $53.66. The firm’s 50 day moving average is $50.81 and its 200-day moving average is $47.91. The stock has a market capitalization of $5.20 billion, a PE ratio of 7.38 and a beta of 0.88. The company has a current ratio of 1.03, a quick ratio of 1.04 and a debt-to-equity ratio of 0.13.

Bank OZK (NASDAQ:OZK) last announced its earnings results on Thursday, October 16th. The company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.07). Bank OZK had a return on equity of 13.00% and a net margin of 25.81%.The business had revenue of $449.94 million for the quarter, compared to the consensus estimate of $447.93 million. During the same period in the prior year, the business posted $1.55 earnings per share. Equities research analysts forecast that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Tuesday, October 14th were issued a dividend of $0.45 per share. This is a boost from Bank OZK’s previous quarterly dividend of $0.44. This represents a $1.80 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Tuesday, October 14th. Bank OZK’s payout ratio is 29.03%.

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.