Canada Pension Plan Investment Board Has $3.04 Million Position in Bank OZK $OZK

Key Points

• Canada Pension Plan Investment Board reduced its stake in Bank OZK by 8.9%, owning 69,900 shares valued at approximately $3 million after selling 6,800 shares.
• Several hedge funds increased their holdings in Bank OZK, with the State of Wyoming growing its stake by 40.1% and Ieq Capital LLC by 50% in the first quarter.
• Bank OZK announced a quarterly dividend increase to $0.44, translating to an annual yield of 3.3%, reflecting a positive trend from its previous dividend of $0.43.

Canada Pension Plan Investment Board cut its holdings in Bank OZK (NASDAQ:OZK - Free Report) by 8.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 69,900 shares of the company's stock after selling 6,800 shares during the quarter. Canada Pension Plan Investment Board owned about 0.06% of Bank OZK worth $3,037,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OZK. Northern Trust Corp boosted its position in shares of Bank OZK by 35.1% during the fourth quarter. Northern Trust Corp now owns 1,015,853 shares of the company's stock worth $45,236,000 after purchasing an additional 263,913 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Bank OZK during the fourth quarter worth $340,000. BNP Paribas Financial Markets boosted its position in shares of Bank OZK by 3.2% during the fourth quarter. BNP Paribas Financial Markets now owns 321,758 shares of the company's stock worth $14,328,000 after purchasing an additional 9,892 shares in the last quarter. Bayesian Capital Management LP boosted its position in shares of Bank OZK by 28.8% during the fourth quarter. Bayesian Capital Management LP now owns 7,283 shares of the company's stock worth $324,000 after purchasing an additional 1,627 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its position in shares of Bank OZK by 22.9% during the fourth quarter. Baird Financial Group Inc. now owns 21,013 shares of the company's stock worth $936,000 after purchasing an additional 3,911 shares in the last quarter. 86.18% of the stock is owned by institutional investors.

Bank OZK Stock Down 0.8%

OZK traded down $0.44 during trading on Tuesday, hitting $52.09. The company had a trading volume of 117,238 shares, compared to its average volume of 1,150,152. The company has a market capitalization of $5.92 billion, a PE ratio of 8.46 and a beta of 0.92. Bank OZK has a one year low of $35.71 and a one year high of $53.66. The firm's 50-day moving average price is $50.86 and its 200 day moving average price is $46.43. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.23.

Bank OZK (NASDAQ:OZK - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.51 by $0.07. The business had revenue of $428.04 million for the quarter, compared to analysts' expectations of $423.41 million. Bank OZK had a net margin of 25.83% and a return on equity of 13.24%. During the same period in the previous year, the firm posted $1.52 EPS. As a group, equities analysts expect that Bank OZK will post 6.02 earnings per share for the current year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Friday, July 11th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a 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 (DPR) is presently 28.57%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on OZK shares. 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. Wells Fargo & Company lifted 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. Finally, Stephens raised shares of Bank OZK from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $58.00 to $65.00 in a research report on Wednesday, August 20th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Bank OZK has a consensus 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.