Cubist Systematic Strategies LLC Purchases 167,138 Shares of Bank OZK $OZK

Key Points

• Cubist Systematic Strategies LLC significantly increased its stake in Bank OZK by 394.7%, acquiring an additional 167,138 shares during the first quarter, bringing its total holdings to 209,485 shares valued at approximately $9.1 million.
• The recent quarterly dividend was increased to $0.44 per share, providing a 3.4% yield, up from the previous dividend of $0.43.
• Analysts have raised their price targets for Bank OZK, with Stephens increasing its target from $58.00 to $65.00, reflecting a positive outlook for the company.

Cubist Systematic Strategies LLC raised its position in Bank OZK (NASDAQ:OZK - Free Report) by 394.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 209,485 shares of the company's stock after buying an additional 167,138 shares during the period. Cubist Systematic Strategies LLC owned about 0.18% of Bank OZK worth $9,102,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of OZK. Nuveen LLC bought a new position in Bank OZK in the 1st quarter valued at $14,197,000. Earnest Partners LLC bought a new position in Bank OZK in the 1st quarter valued at $12,696,000. Northern Trust Corp boosted its position in Bank OZK by 35.1% in the 4th quarter. Northern Trust Corp now owns 1,015,853 shares of the company's stock valued at $45,236,000 after buying an additional 263,913 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in Bank OZK in the 1st quarter valued at $11,297,000. Finally, GAMMA Investing LLC boosted 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 valued at $10,587,000 after buying an additional 238,910 shares during the last quarter. 86.18% of the stock is currently owned by institutional investors.

Bank OZK Stock Down 0.3%

NASDAQ:OZK opened at $52.47 on Tuesday. Bank OZK has a 12-month low of $35.71 and a 12-month high of $53.66. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $5.97 billion, a P/E ratio of 8.52 and a beta of 0.92. The stock's fifty day simple moving average is $50.29 and its 200-day simple moving average is $46.35.

Bank OZK (NASDAQ:OZK - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.07. The firm had revenue of $428.04 million for the quarter, compared to analyst estimates of $423.41 million. Bank OZK had a return on equity of 13.24% and a net margin of 25.83%.During the same period in the previous year, the company posted $1.52 earnings per share. Equities research 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. Shareholders 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 annualized dividend and a yield of 3.4%. The ex-dividend date was Friday, July 11th. Bank OZK's dividend payout ratio is presently 28.57%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Stephens upgraded Bank OZK from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $58.00 to $65.00 in a research report on Wednesday, August 20th. Raymond James Financial upgraded 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 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 analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently 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.

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