Icon Advisers Inc. Co. Purchases New Position in Bank Ozk (OZK)

Icon Advisers Inc. Co. purchased a new position in shares of Bank Ozk (NASDAQ:OZK) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 36,700 shares of the company’s stock, valued at approximately $1,393,000.

Several other hedge funds also recently modified their holdings of the company. Edge Wealth Management LLC bought a new position in Bank Ozk in the 3rd quarter worth approximately $753,000. Xact Kapitalforvaltning AB bought a new position in Bank Ozk in the 3rd quarter worth approximately $658,000. Handelsinvest Investeringsforvaltning bought a new position in Bank Ozk in the 3rd quarter worth approximately $8,731,000. Public Employees Retirement Association of Colorado bought a new position in Bank Ozk in the 3rd quarter worth approximately $837,000. Finally, Handelsbanken Fonder AB bought a new position in Bank Ozk in the 3rd quarter worth approximately $34,354,000. Institutional investors own 86.69% of the company’s stock.

Shares of NASDAQ:OZK opened at $27.12 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.09. Bank Ozk has a one year low of $24.15 and a one year high of $53.70. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 8.82, a PEG ratio of 0.70 and a beta of 1.51.

Bank Ozk (NASDAQ:OZK) last announced its quarterly earnings results on Thursday, October 18th. The company reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.32). Bank Ozk had a net margin of 38.37% and a return on equity of 11.17%. The firm had revenue of $244.74 million during the quarter, compared to the consensus estimate of $258.05 million. During the same period in the previous year, the business earned $0.75 earnings per share. On average, equities analysts expect that Bank Ozk will post 3.28 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 19th. Stockholders of record on Friday, October 12th were issued a dividend of $0.21 per share. This is an increase from Bank Ozk’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date was Thursday, October 11th. Bank Ozk’s payout ratio is currently 28.38%.

OZK has been the subject of several analyst reports. Brean Capital reissued a “buy” rating and issued a $54.00 price target on shares of Bank Ozk in a report on Friday, October 19th. They noted that the move was a valuation call. Wells Fargo & Co set a $40.00 price target on shares of Bank Ozk and gave the company a “hold” rating in a report on Tuesday, October 2nd. Sandler O’Neill downgraded shares of Bank Ozk from a “buy” rating to a “hold” rating and set a $29.00 price target for the company. in a report on Friday, October 19th. Zacks Investment Research downgraded shares of Bank Ozk from a “hold” rating to a “sell” rating in a report on Tuesday, September 11th. Finally, Morgan Stanley cut their price target on shares of Bank Ozk from $56.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, September 18th. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $35.13.

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Bank Ozk Profile

Bank OZK provides a range of retail and commercial banking services to businesses, individuals, and non-profit and governmental entities. The company accepts non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time deposits.

Further Reading: Growth Stocks

Want to see what other hedge funds are holding OZK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank Ozk (NASDAQ:OZK).

Institutional Ownership by Quarter for Bank Ozk (NASDAQ:OZK)

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