Algert Global LLC Has $11.34 Million Position in Bank OZK $OZK

Key Points

• Algert Global LLC reduced its stake in Bank OZK by 15.6% during the first quarter, now owning 261,032 shares worth approximately $11.34 million.
• Bank OZK announced an increase in its quarterly dividend from $0.43 to $0.44, yielding 3.6% annually.
• Wall Street analysts have varying ratings on Bank OZK, with an average target price of $52.88, highlighting a consensus rating of "Hold".

Algert Global LLC trimmed its holdings in shares of Bank OZK (NASDAQ:OZK - Free Report) by 15.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 261,032 shares of the company's stock after selling 48,356 shares during the quarter. Algert Global LLC owned about 0.23% of Bank OZK worth $11,342,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its position in Bank OZK by 5.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,350,220 shares of the company's stock worth $189,017,000 after acquiring an additional 220,214 shares during the period. First Trust Advisors LP increased its position in Bank OZK by 30.4% during the fourth quarter. First Trust Advisors LP now owns 2,945,480 shares of the company's stock worth $131,162,000 after acquiring an additional 686,775 shares during the period. AQR Capital Management LLC increased its position in Bank OZK by 12.6% during the fourth quarter. AQR Capital Management LLC now owns 2,811,354 shares of the company's stock worth $125,190,000 after acquiring an additional 314,488 shares during the period. American Century Companies Inc. increased its position in Bank OZK by 10.5% during the first quarter. American Century Companies Inc. now owns 2,405,292 shares of the company's stock worth $104,510,000 after acquiring an additional 228,295 shares during the period. Finally, Captrust Financial Advisors increased its position in Bank OZK by 5.1% during the fourth quarter. Captrust Financial Advisors now owns 1,786,155 shares of the company's stock worth $79,537,000 after acquiring an additional 87,299 shares during the period. 86.18% of the stock is owned by institutional investors.

Bank OZK Price Performance

OZK stock traded up $2.3460 during mid-day trading on Friday, hitting $52.2560. The stock had a trading volume of 275,922 shares, compared to its average volume of 1,176,106. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.23. Bank OZK has a 52 week low of $35.71 and a 52 week high of $53.64. The firm has a market capitalization of $5.94 billion, a P/E ratio of 8.48 and a beta of 0.86. The firm has a fifty day simple moving average of $49.26 and a 200 day simple moving average of $46.42.

Bank OZK (NASDAQ:OZK - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.51 by $0.07. Bank OZK had a net margin of 25.83% and a return on equity of 13.24%. The firm had revenue of $428.04 million for the quarter, compared to analyst estimates of $423.41 million. During the same period last year, the firm earned $1.52 EPS. As a group, research analysts forecast that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Friday, July 11th were paid 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 was Friday, July 11th. This is an increase from Bank OZK's previous quarterly dividend of $0.43. Bank OZK's dividend payout ratio is 28.57%.

Analysts Set New Price Targets

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

Bank OZK 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.