179,334 Shares in Bank OZK $OZK Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• The Virginia Retirement Systems ET Al acquired 179,334 shares of Bank OZK, valued at approximately $8.4 million, representing 0.16% ownership of the company.
• Bank OZK's stock has recently experienced increased investment from various institutional investors, with ownership by 86.18% of the company's stock being held by institutional investors and hedge funds.
• The company also declared a quarterly dividend of $0.45, which is an increase from the previous dividend of $0.44, yielding an annualized rate of 3.9%.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Bank OZK (NASDAQ:OZK - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 179,334 shares of the company's stock, valued at approximately $8,439,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.16% of Bank OZK at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in Bank OZK by 17.9% during the first quarter. GAMMA Investing LLC now owns 5,608 shares of the company's stock worth $244,000 after purchasing an additional 850 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Bank OZK by 16.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 72,865 shares of the company's stock worth $3,166,000 after purchasing an additional 10,229 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in Bank OZK by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 12,359 shares of the company's stock worth $536,000 after purchasing an additional 330 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Bank OZK by 4.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,693 shares of the company's stock worth $1,029,000 after purchasing an additional 1,086 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in Bank OZK by 39.8% during the first quarter. Oppenheimer Asset Management Inc. now owns 82,513 shares of the company's stock worth $3,585,000 after purchasing an additional 23,501 shares during the last quarter. Institutional investors and hedge funds own 86.18% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in 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 research note on Tuesday, July 8th. Keefe, Bruyette & Woods cut their target price on Bank OZK from $53.00 to $50.00 and set a "market perform" rating for the company in a research note on Monday. Cowen started coverage on Bank OZK in a research note on Wednesday, September 24th. They issued a "buy" rating for the company. Wells Fargo & Company increased their price target on Bank OZK from $49.00 to $50.00 and gave the company an "equal weight" rating in a research note on Monday, September 29th. Finally, TD Cowen started coverage on Bank OZK in a research note on Thursday, September 25th. They issued a "buy" rating and a $67.00 price target for the company. Five 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 data from MarketBeat, Bank OZK currently has an average rating of "Hold" and an average price target of $58.88.

Bank OZK Stock Performance

Shares of OZK opened at $46.20 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.03 and a quick ratio of 1.04. The stock has a 50-day moving average of $51.17 and a 200-day moving average of $47.76. The company has a market cap of $5.25 billion, a PE ratio of 7.45 and a beta of 0.88. Bank OZK has a one year low of $35.71 and a one year high of $53.66.

Bank OZK (NASDAQ:OZK - Get Free Report) last issued 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). The firm had revenue of $449.94 million during the quarter, compared to analyst estimates of $447.93 million. Bank OZK had a net margin of 25.81% and a return on equity of 13.00%. During the same quarter in the prior year, the business earned $1.55 earnings per share. On average, equities research analysts predict that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Tuesday, October 14th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, October 14th. This is a positive change from Bank OZK's previous quarterly dividend of $0.44. Bank OZK's payout ratio is 29.03%.

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.

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