Dynamic Technology Lab Private Ltd bought a new stake in Bank OZK (NASDAQ:OZK - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 13,425 shares of the company's stock, valued at approximately $583,000.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Mercer Global Advisors Inc. ADV acquired a new position in Bank OZK in the 4th quarter valued at about $340,000. Baird Financial Group Inc. lifted its stake in Bank OZK by 22.9% in the 4th quarter. Baird Financial Group Inc. now owns 21,013 shares of the company's stock valued at $936,000 after buying an additional 3,911 shares in the last quarter. Cetera Investment Advisers grew its holdings in Bank OZK by 19.4% in the 4th quarter. Cetera Investment Advisers now owns 38,712 shares of the company's stock valued at $1,724,000 after buying an additional 6,281 shares during the period. Deutsche Bank AG grew its holdings in shares of Bank OZK by 1.3% during the 4th quarter. Deutsche Bank AG now owns 34,815 shares of the company's stock worth $1,550,000 after purchasing an additional 455 shares during the period. Finally, Focus Partners Wealth grew its holdings in shares of Bank OZK by 17.3% during the 4th quarter. Focus Partners Wealth now owns 15,955 shares of the company's stock worth $710,000 after purchasing an additional 2,353 shares during the period. 86.18% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have recently issued reports on OZK shares. Raymond James Financial upgraded Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 target price for the company in a report on Tuesday, July 8th. Wells Fargo & Company boosted their target price on Bank OZK from $48.00 to $49.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Finally, Stephens upgraded Bank OZK from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $58.00 to $65.00 in a report on Wednesday, August 20th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Bank OZK currently has a consensus rating of "Hold" and a consensus target price of $54.25.
Check Out Our Latest Research Report on Bank OZK
Bank OZK Stock Down 1.2%
Bank OZK stock traded down $0.63 during midday trading on Tuesday, hitting $51.20. 742,007 shares of the company were exchanged, compared to its average volume of 709,844. The company's fifty day moving average price is $51.01 and its 200-day moving average price is $46.62. The company has a market cap of $5.82 billion, a PE ratio of 8.31 and a beta of 0.92. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.04 and a quick ratio of 1.04. Bank OZK has a fifty-two week low of $35.71 and a fifty-two week high of $53.66.
Bank OZK (NASDAQ:OZK - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.51 by $0.07. Bank OZK had a return on equity of 13.24% and a net margin of 25.83%.The company had revenue of $428.04 million for the quarter, compared to analyst estimates of $423.41 million. During the same period in the prior year, the company posted $1.52 EPS. On average, research analysts predict that Bank OZK will post 6.02 EPS for the current fiscal year.
Bank OZK Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Friday, July 11th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, July 11th. This is a positive change from Bank OZK's previous quarterly dividend of $0.43. Bank OZK's dividend payout ratio is currently 28.57%.
About Bank OZK
(
Free Report)
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.
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