Connor Clark & Lunn Investment Management Ltd. Purchases 52,562 Shares of Bank OZK (NASDAQ:OZK)

Connor Clark & Lunn Investment Management Ltd. lifted its position in Bank OZK (NASDAQ:OZK) by 691.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 60,160 shares of the company’s stock after acquiring an additional 52,562 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.05% of Bank OZK worth $2,679,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. lifted its position in Bank OZK by 73.8% during the third quarter. Assetmark Inc. now owns 968 shares of the company’s stock valued at $42,000 after buying an additional 411 shares during the period. Natixis Advisors LLC lifted its position in Bank OZK by 20.7% during the 3rd quarter. Natixis Advisors LLC now owns 19,228 shares of the company’s stock valued at $827,000 after acquiring an additional 3,303 shares during the period. Quest Partners LLC boosted its stake in Bank OZK by 4,174.3% during the third quarter. Quest Partners LLC now owns 58,815 shares of the company’s stock worth $2,528,000 after acquiring an additional 57,439 shares in the last quarter. Caprock Group LLC increased its stake in shares of Bank OZK by 10.5% during the third quarter. Caprock Group LLC now owns 6,805 shares of the company’s stock valued at $293,000 after purchasing an additional 645 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Bank OZK during the third quarter valued at approximately $3,691,000. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. UBS Group began coverage on Bank OZK in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 price target on the stock. Wells Fargo & Company raised Bank OZK from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $40.00 to $48.00 in a research note on Tuesday, January 21st. Stephens lifted their price target on Bank OZK from $53.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Finally, Morgan Stanley cut their price objective on shares of Bank OZK from $58.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Bank OZK currently has an average rating of “Hold” and an average target price of $50.38.

Bank OZK Stock Performance

Shares of NASDAQ OZK opened at $44.26 on Tuesday. The firm’s 50-day moving average price is $48.11 and its 200-day moving average price is $45.93. Bank OZK has a 52-week low of $37.43 and a 52-week high of $53.64. The company has a market cap of $5.02 billion, a PE ratio of 7.21 and a beta of 1.23. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.16.

Bank OZK (NASDAQ:OZK) last issued its earnings results on Thursday, January 16th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.12. The company had revenue of $412.34 million for the quarter, compared to analysts’ expectations of $407.19 million. Bank OZK had a net margin of 25.83% and a return on equity of 13.90%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $1.50 earnings per share. As a group, analysts anticipate that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 14th were issued a $0.42 dividend. This is an increase from Bank OZK’s previous quarterly dividend of $0.41. The ex-dividend date was Tuesday, January 14th. This represents a $1.68 dividend on an annualized basis and a yield of 3.80%. Bank OZK’s dividend payout ratio is currently 27.36%.

Bank OZK Company 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.