Earnest Partners LLC Makes New $12.70 Million Investment in Bank OZK $OZK

Key Points

• Earnest Partners LLC acquired 292,197 shares of Bank OZK, valued at approximately $12.7 million, increasing its stake to 0.26% as of the latest reporting period.
• Several large investors have also increased their positions in Bank OZK, with AQR Capital Management boosting its stake by 12.6% and GAMMA Investing LLC by a remarkable 5,021.2% in the first quarter.
• Bank OZK recently increased its quarterly dividend to $0.44 per share, resulting in an annualized yield of 3.3%, up from the previous quarterly dividend of $0.43.

Earnest Partners LLC bought a new position in shares of Bank OZK (NASDAQ:OZK - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 292,197 shares of the company's stock, valued at approximately $12,696,000. Earnest Partners LLC owned about 0.26% of Bank OZK at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. CX Institutional acquired a new stake in shares of Bank OZK in the 1st quarter valued at $30,000. Summit Securities Group LLC acquired a new stake in Bank OZK during the 1st quarter worth $32,000. Bruce G. Allen Investments LLC boosted its stake in Bank OZK by 4,828.6% in the 1st quarter. Bruce G. Allen Investments LLC now owns 1,035 shares of the company's stock worth $45,000 after purchasing an additional 1,014 shares during the period. Brooklyn Investment Group boosted its stake in Bank OZK by 1,114.3% in the 1st quarter. Brooklyn Investment Group now owns 1,105 shares of the company's stock worth $48,000 after purchasing an additional 1,014 shares during the period. Finally, UMB Bank n.a. increased its stake in Bank OZK by 2,014.3% in the 1st quarter. UMB Bank n.a. now owns 1,480 shares of the company's stock valued at $64,000 after buying an additional 1,410 shares during the last quarter. 86.18% of the stock is currently owned by institutional investors and hedge funds.

Bank OZK Price Performance

Shares of NASDAQ OZK traded down $0.16 during midday trading on Monday, hitting $52.47. 733,417 shares of the company's stock were exchanged, compared to its average volume of 863,623. Bank OZK has a 12-month low of $35.71 and a 12-month high of $53.66. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23. The company has a market cap of $5.97 billion, a price-to-earnings ratio of 8.52 and a beta of 0.92. The business's fifty day moving average price is $50.17 and its two-hundred day moving average price is $46.34.

Bank OZK (NASDAQ:OZK - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $1.58 earnings per share 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 analysts' expectations of $423.41 million. During the same period last year, the firm posted $1.52 EPS. As a group, research analysts forecast 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 was paid on Friday, July 18th. Investors of record on Friday, July 11th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, July 11th. This represents a $1.76 dividend on an annualized basis and a yield of 3.4%. This is a boost from Bank OZK's previous quarterly dividend of $0.43. Bank OZK's dividend payout ratio (DPR) is presently 28.57%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Stephens upgraded shares of Bank OZK from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $58.00 to $65.00 in a research note on Wednesday, August 20th. Wells Fargo & Company increased their target price on Bank OZK from $48.00 to $49.00 and gave the company an "equal weight" rating in a research report on Monday, July 21st. Finally, Raymond James Financial raised Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 price objective for the company in a research report on Tuesday, July 8th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Bank OZK currently has an average rating of "Hold" and a consensus target price of $54.25.

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.