Amundi Has $1.66 Million Stake in Bank OZK $OZK

Key Points

• Amundi cut its Bank OZK stake by 88.9% in the first quarter, selling 288,927 shares and retaining 36,087 shares valued at approximately $1.66 million. Institutional investors collectively own 86.18% of the bank.
• Bank OZK reported quarterly EPS of $1.49, narrowly beating estimates, while revenue reached $430.02 million, up 0.5% year over year but below analyst expectations.
• The bank authorized a $200 million stock buyback and raised its quarterly dividend to $0.48, equivalent to a 3.7% annualized yield. Analysts maintain a consensus “Hold” rating with a $56.38 price target.

Amundi lowered its holdings in shares of Bank OZK (NASDAQ:OZK - Free Report) by 88.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,087 shares of the company's stock after selling 288,927 shares during the quarter. Amundi's holdings in Bank OZK were worth $1,656,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of OZK. Wasatch Advisors LP boosted its stake in Bank OZK by 34.9% during the 3rd quarter. Wasatch Advisors LP now owns 7,437,646 shares of the company's stock valued at $379,171,000 after purchasing an additional 1,924,387 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Bank OZK by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 6,625,660 shares of the company's stock valued at $304,045,000 after acquiring an additional 38,592 shares during the period. State Street Corp grew its stake in shares of Bank OZK by 9.1% in the fourth quarter. State Street Corp now owns 6,556,105 shares of the company's stock worth $301,712,000 after acquiring an additional 546,785 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Bank OZK by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,554,014 shares of the company's stock worth $209,576,000 after acquiring an additional 73,920 shares during the period. Finally, First Trust Advisors LP grew its position in Bank OZK by 4.6% in the 1st quarter. First Trust Advisors LP now owns 3,036,101 shares of the company's stock worth $139,327,000 after purchasing an additional 134,490 shares during the last quarter. Institutional investors and hedge funds own 86.18% of the company's stock.

Bank OZK Trading Down 0.3%

OZK opened at $51.41 on Friday. The stock has a market capitalization of $5.75 billion, a P/E ratio of 8.50 and a beta of 0.89. The company has a current ratio of 0.97, a quick ratio of 1.00 and a debt-to-equity ratio of 0.08. Bank OZK has a 12 month low of $42.37 and a 12 month high of $53.66. The firm's fifty day simple moving average is $50.68 and its 200 day simple moving average is $48.54.

Bank OZK (NASDAQ:OZK - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.01. Bank OZK had a net margin of 24.95% and a return on equity of 11.87%. The firm had revenue of $430.02 million for the quarter, compared to analyst estimates of $436.42 million. During the same period in the previous year, the business earned $1.47 EPS. The company's revenue was up .5% compared to the same quarter last year. As a group, research analysts anticipate that Bank OZK will post 5.88 EPS for the current fiscal year.

Bank OZK announced that its board has initiated a stock buyback plan on Monday, June 29th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Monday, July 13th were issued a $0.48 dividend. The ex-dividend date of this dividend was Monday, July 13th. This represents a $1.92 annualized dividend and a yield of 3.7%. This is an increase from Bank OZK's previous quarterly dividend of $0.47. Bank OZK's payout ratio is currently 31.74%.

Analysts Set New Price Targets

Several research firms recently issued reports on OZK. Morgan Stanley increased their price target on shares of Bank OZK from $54.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Monday, June 29th. TD Cowen dropped their target price on Bank OZK from $53.00 to $52.00 and set a "hold" rating for the company in a report on Friday, July 24th. Weiss Ratings raised Bank OZK from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, June 23rd. 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. Finally, UBS Group boosted their target price on shares of Bank OZK from $50.00 to $51.00 and gave the company a "neutral" rating in a research note on Tuesday, July 28th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $56.38.

Bank OZK Profile

Bank OZK, formerly known as Bank of the Ozarks, is a regional commercial bank headquartered in Little Rock, Arkansas. Established in 1903, the bank offers a full suite of banking products and services to both individual and corporate clients. Through a combination of organic growth and targeted acquisitions, Bank OZK has built a diversified lending portfolio and a strong deposit franchise.

The bank's core operations focus on commercial real estate lending, including acquisition, development and construction financing.

Want to see what other hedge funds are holding OZK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank OZK (NASDAQ:OZK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source