Ieq Capital LLC Has $4.98 Million Position in Bank OZK $OZK

Key Points

• Ieq Capital LLC increased its stake in Bank OZK by 50%, acquiring an additional 38,230 shares, bringing their total to 114,700 shares valued at approximately $4.98 million.
• Bank OZK recently announced a quarterly dividend of $0.44 per share, an increase from the previous $0.43, representing an annualized yield of 3.4%.
• Analyst ratings for Bank OZK have improved, with Stephens upgrading the stock to an "overweight" rating, while raising the price target from $58 to $65.

Ieq Capital LLC grew its holdings in Bank OZK (NASDAQ:OZK - Free Report) by 50.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 114,700 shares of the company's stock after purchasing an additional 38,230 shares during the quarter. Ieq Capital LLC owned about 0.10% of Bank OZK worth $4,984,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in OZK. Marshall Wace LLP acquired a new stake in shares of Bank OZK in the fourth quarter valued at about $762,000. MML Investors Services LLC grew its position in shares of Bank OZK by 18.6% in the fourth quarter. MML Investors Services LLC now owns 25,449 shares of the company's stock valued at $1,133,000 after purchasing an additional 3,997 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Bank OZK by 8.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 70,182 shares of the company's stock valued at $3,126,000 after purchasing an additional 5,173 shares during the last quarter. Northern Trust Corp grew its position in shares of Bank OZK by 35.1% in the fourth quarter. Northern Trust Corp now owns 1,015,853 shares of the company's stock valued at $45,236,000 after purchasing an additional 263,913 shares during the last quarter. Finally, Freestone Grove Partners LP bought a new stake in shares of Bank OZK in the fourth quarter valued at about $213,000. 86.18% of the stock is owned by institutional investors and hedge funds.

Bank OZK Price Performance

Shares of NASDAQ OZK traded up $0.06 during midday trading on Wednesday, reaching $52.40. 367,102 shares of the company traded hands, compared to its average volume of 1,162,223. The firm has a market cap of $5.96 billion, a PE ratio of 8.51 and a beta of 0.92. The stock's 50-day simple moving average is $50.41 and its 200-day simple moving average is $46.39. Bank OZK has a 12 month low of $35.71 and a 12 month high of $53.66. 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 (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. Bank OZK had a net margin of 25.83% and a return on equity of 13.24%. The business had revenue of $428.04 million for the quarter, compared to analyst estimates of $423.41 million. During the same quarter in the prior year, the firm earned $1.52 EPS. As a group, equities analysts anticipate that Bank OZK will post 6.02 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.76 dividend on an annualized basis and a yield of 3.4%. This is a positive change from Bank OZK's previous quarterly dividend of $0.43. Bank OZK's payout ratio is 28.57%.

Analyst Upgrades and Downgrades

OZK has been the subject of several research reports. Stephens upgraded shares of Bank OZK from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $58.00 to $65.00 in a research note on Wednesday, August 20th. Raymond James Financial upgraded shares of Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 target price for the company in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company upped their target price on Bank OZK from $48.00 to $49.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Bank OZK presently has an average rating of "Hold" and a consensus target price 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.