Charles Schwab Investment Management Inc. Acquires 220,214 Shares of Bank OZK (NASDAQ:OZK)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Bank OZK by 5.3% in Q1, now owning 4,350,220 shares valued at approximately $189 million.
• Bank OZK recently announced a quarterly dividend increase to $0.44 per share, representing an annualized yield of 3.7%.
• OZK has recorded earnings per share of $1.58 for the latest quarter, surpassing estimates and indicating strong financial performance.

Charles Schwab Investment Management Inc. grew its holdings in shares of Bank OZK (NASDAQ:OZK - Free Report) by 5.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,350,220 shares of the company's stock after acquiring an additional 220,214 shares during the quarter. Charles Schwab Investment Management Inc. owned about 3.83% of Bank OZK worth $189,017,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its position in shares of Bank OZK by 4.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,693 shares of the company's stock valued at $1,029,000 after acquiring an additional 1,086 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Bank OZK by 55.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 129,980 shares of the company's stock valued at $5,639,000 after acquiring an additional 46,349 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Bank OZK by 2.1% during the 1st quarter. Bank of New York Mellon Corp now owns 1,127,576 shares of the company's stock valued at $48,993,000 after acquiring an additional 23,492 shares during the last quarter. GAMMA Investing LLC lifted its position in Bank OZK by 5,021.2% in the 1st quarter. GAMMA Investing LLC now owns 243,668 shares of the company's stock worth $10,587,000 after buying an additional 238,910 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in Bank OZK by 1.3% in the 4th quarter. Deutsche Bank AG now owns 34,815 shares of the company's stock worth $1,550,000 after buying an additional 455 shares during the last quarter. Institutional investors own 86.18% of the company's stock.

Bank OZK Stock Performance

Shares of OZK stock opened at $47.99 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.02 and a current ratio of 1.04. Bank OZK has a fifty-two week low of $35.71 and a fifty-two week high of $53.64. The stock has a 50 day moving average price of $48.48 and a two-hundred day moving average price of $46.45. The company has a market capitalization of $5.46 billion, a P/E ratio of 7.79 and a beta of 0.86.

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 the consensus estimate of $1.51 by $0.07. Bank OZK had a return on equity of 13.24% and a net margin of 25.83%. The firm had revenue of $428.04 million during the quarter, compared to the consensus estimate of $423.41 million. During the same quarter in the previous year, the company posted $1.52 earnings per share. Analysts expect that Bank OZK will post 6.02 earnings per share for the current year.

Bank OZK Increases Dividend

The firm also recently announced 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. This is a boost from Bank OZK's previous quarterly dividend of $0.43. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Friday, July 11th. Bank OZK's dividend payout ratio is currently 28.57%.

Wall Street Analyst Weigh In

OZK has been the subject of a number of recent research reports. Wells Fargo & Company boosted their target price on Bank OZK from $48.00 to $49.00 and gave the stock an "equal weight" rating in a research report on Monday, July 21st. Raymond James Financial upgraded Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 target price for the company in a research report on Tuesday, July 8th. Stephens dropped their target price on Bank OZK from $59.00 to $54.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Finally, Keefe, Bruyette & Woods dropped their target price on Bank OZK from $50.00 to $48.00 and set a "market perform" rating for the company in a research report on Tuesday, April 22nd. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $52.88.

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.

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