96,641 Shares of Bank OZK $OZK Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments bought 96,641 Bank OZK shares in the third quarter, worth approximately $4.44 million, representing about 0.09% of the company.
• Bank OZK reported quarterly EPS of $1.50, beating the $1.43 consensus, but revenue of $391.48 million fell short of analyst expectations of $434.83 million.
• The bank raised its quarterly dividend from $0.48 to $0.49 per share, equivalent to an annualized yield of about 3.9%. Analysts’ consensus rating was “Hold,” with an average price target of $55.14.

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Bank OZK (NASDAQ:OZK - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 96,641 shares of the company's stock, valued at approximately $4,442,000. Mirae Asset Global Investments Co. Ltd. owned approximately 0.09% of Bank OZK as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its position in Bank OZK by 2.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,305 shares of the company's stock valued at $537,000 after acquiring an additional 212 shares in the last quarter. Elevation Wealth Partners LLC raised its holdings in Bank OZK by 68.8% in the third quarter. Elevation Wealth Partners LLC now owns 660 shares of the company's stock worth $30,000 after purchasing an additional 269 shares in the last quarter. Evergreen Capital Management LLC boosted its holdings in shares of Bank OZK by 4.2% during the 3rd quarter. Evergreen Capital Management LLC now owns 7,919 shares of the company's stock valued at $364,000 after buying an additional 319 shares in the last quarter. Park Avenue Securities LLC grew its position in shares of Bank OZK by 3.0% in the 3rd quarter. Park Avenue Securities LLC now owns 12,181 shares of the company's stock worth $560,000 after buying an additional 355 shares during the period. Finally, Groesbeck Investment Management Corp NJ increased its stake in shares of Bank OZK by 4.1% in the 3rd quarter. Groesbeck Investment Management Corp NJ now owns 10,607 shares of the company's stock worth $487,000 after acquiring an additional 418 shares in the last quarter. Institutional investors own 86.18% of the company's stock.

Bank OZK Stock Performance

Shares of Bank OZK stock traded down $0.45 during trading on Friday, hitting $50.64. 925,704 shares of the company's stock traded hands, compared to its average volume of 2,131,903. Bank OZK has a 1 year low of $42.37 and a 1 year high of $53.39. The business has a 50-day simple moving average of $48.04 and a 200-day simple moving average of $48.56. The stock has a market capitalization of $5.67 billion, a P/E ratio of 8.50 and a beta of 0.90. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.98 and a quick ratio of 0.97.

Bank OZK (NASDAQ:OZK - Get Free Report) last posted its earnings results on Tuesday, October 20th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.07. Bank OZK had a net margin of 24.70% and a return on equity of 11.56%. The business had revenue of $391.48 million for the quarter, compared to analysts' expectations of $434.83 million. During the same quarter in the prior year, the business earned $1.59 EPS. As a group, analysts forecast that Bank OZK will post 5.91 EPS for the current year.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 20th. Shareholders of record on Tuesday, October 13th were paid a dividend of $0.49 per share. The ex-dividend date was Tuesday, October 13th. This represents a $1.96 dividend on an annualized basis and a yield of 3.9%. This is a boost from Bank OZK's previous quarterly dividend of $0.48. Bank OZK's dividend payout ratio (DPR) is presently 32.89%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on OZK shares. Raymond James Financial started coverage on Bank OZK in a research note on Tuesday, September 1st. They issued a "market perform" rating on the stock. Piper Sandler reiterated an "overweight" rating and set a $61.00 price objective on shares of Bank OZK in a research note on Wednesday, July 22nd. Wells Fargo & Company cut their target price on Bank OZK from $56.00 to $51.00 and set an "equal weight" rating on the stock in a research note on Tuesday, September 29th. Weiss Ratings raised Bank OZK from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 29th. Finally, Morgan Stanley increased their price objective on shares of Bank OZK from $56.00 to $57.00 and gave the company an "underweight" rating in a research report on Monday, September 28th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Bank OZK currently has a consensus rating of "Hold" and an average target price of $55.14.

About Bank OZK

Bank OZK NASDAQ: OZK is a regional financial institution headquartered in Little Rock, Arkansas. The company provides banking services to individuals, businesses and institutions, including deposit accounts, commercial and consumer loans, mortgage lending, treasury management and online and mobile banking.

Bank OZK also operates specialized lending businesses, including its Real Estate Specialties Group, which provides financing for commercial real estate development and other complex real estate projects.

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