Financiere des Professionnels Fonds d investissement inc. Purchases New Holdings in Bank OZK $OZK

Key Points

• Financiere des Professionnels Fonds d investissement inc. purchased 6,780 shares of Bank OZK in Q2, valued at approximately $319,000, signaling growing interest in the stock.
• Bank OZK received recent upgrades from several analysts, with Stephens raising their target price from $58.00 to $65.00, reflecting positive sentiments towards the company.
• The bank also increased its quarterly dividend to $0.44 per share, which represents a yield of 3.4%, indicating financial stability and commitment to returning value to shareholders.

Financiere des Professionnels Fonds d investissement inc. acquired a new position in Bank OZK (NASDAQ:OZK - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,780 shares of the company's stock, valued at approximately $319,000.

Several other institutional investors also recently bought and sold shares of OZK. Cetera Investment Advisers raised its position in shares of Bank OZK by 19.4% in the 4th quarter. Cetera Investment Advisers now owns 38,712 shares of the company's stock worth $1,724,000 after acquiring an additional 6,281 shares in the last quarter. Deutsche Bank AG raised its holdings in Bank OZK by 1.3% during the fourth quarter. Deutsche Bank AG now owns 34,815 shares of the company's stock valued at $1,550,000 after acquiring an additional 455 shares during the period. Gotham Asset Management LLC increased its holdings in shares of Bank OZK by 8.1% in the fourth quarter. Gotham Asset Management LLC now owns 5,842 shares of the company's stock worth $260,000 after purchasing an additional 436 shares during the last quarter. Janus Henderson Group PLC increased its stake in Bank OZK by 5.7% during the fourth quarter. Janus Henderson Group PLC now owns 48,087 shares of the company's stock worth $2,142,000 after acquiring an additional 2,600 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Bank OZK by 23.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,973 shares of the company's stock valued at $1,825,000 after buying an additional 7,879 shares during the last quarter. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

Bank OZK Price Performance

OZK traded down $0.53 on Friday, hitting $52.60. 2,417,980 shares of the company were exchanged, compared to its average volume of 792,547. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.04. The business's fifty day moving average is $51.06 and its 200 day moving average is $46.75. Bank OZK has a fifty-two week low of $35.71 and a fifty-two week high of $53.66. The firm has a market capitalization of $5.98 billion, a P/E ratio of 8.54 and a beta of 0.92.

Bank OZK (NASDAQ:OZK - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.51 by $0.07. The company had revenue of $428.04 million for the quarter, compared to the consensus estimate of $423.41 million. Bank OZK had a net margin of 25.83% and a return on equity of 13.24%. During the same quarter last year, the firm posted $1.52 earnings per share. As a group, sell-side analysts anticipate 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. Shareholders of record on Friday, July 11th were given a dividend of $0.44 per share. This is a positive change from Bank OZK's previous quarterly dividend of $0.43. The ex-dividend date was Friday, July 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.3%. Bank OZK's payout ratio is presently 28.57%.

Analyst Ratings Changes

A number of research firms have weighed in on OZK. Wells Fargo & Company upped their target price on Bank OZK from $48.00 to $49.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Raymond James Financial raised shares of Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 target price on the stock in a research note on Tuesday, July 8th. Finally, Stephens upgraded 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 report on Wednesday, August 20th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Bank OZK 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.