JPMorgan Chase & Co. Has $14.57 Million Stock Position in Bank OZK $OZK

Key Points

• JPMorgan Chase increased its stake in Bank OZK by 21.8% to 285,876 shares (about 0.25% of the company), valued at roughly $14.57 million at the end of the quarter.
• Analysts are mixed with a consensus rating of Hold and a consensus price target of $57.22, after recent notes that both raised and lowered targets (e.g., Stephens $62 overweight, Morgan Stanley $61 equal weight, Citigroup sell).
• Bank OZK raised its quarterly dividend to $0.46 (annualized $1.84) for a yield of about 3.9% and reported quarterly EPS of $1.53, slightly missing estimates by $0.03.

JPMorgan Chase & Co. boosted its stake in shares of Bank OZK (NASDAQ:OZK - Free Report) by 21.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 285,876 shares of the company's stock after buying an additional 51,171 shares during the period. JPMorgan Chase & Co. owned about 0.25% of Bank OZK worth $14,574,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of OZK. Hantz Financial Services Inc. increased its position in shares of Bank OZK by 58.2% in the second quarter. Hantz Financial Services Inc. now owns 590 shares of the company's stock worth $28,000 after acquiring an additional 217 shares in the last quarter. Assetmark Inc. grew its position in Bank OZK by 20.8% during the 2nd quarter. Assetmark Inc. now owns 1,507 shares of the company's stock worth $71,000 after purchasing an additional 259 shares in the last quarter. AdvisorNet Financial Inc raised its stake in Bank OZK by 82.2% during the 3rd quarter. AdvisorNet Financial Inc now owns 665 shares of the company's stock valued at $34,000 after purchasing an additional 300 shares during the period. Savant Capital LLC lifted its holdings in shares of Bank OZK by 0.6% in the third quarter. Savant Capital LLC now owns 51,800 shares of the company's stock valued at $2,641,000 after purchasing an additional 323 shares in the last quarter. Finally, Burford Brothers Inc. lifted its holdings in shares of Bank OZK by 2.5% in the third quarter. Burford Brothers Inc. now owns 13,086 shares of the company's stock valued at $667,000 after purchasing an additional 325 shares in the last quarter. 86.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on OZK. Stephens lowered their target price on Bank OZK from $64.00 to $62.00 and set an "overweight" rating on the stock in a research note on Thursday, January 22nd. Morgan Stanley upped their price objective on shares of Bank OZK from $57.00 to $61.00 and gave the company an "equal weight" rating in a research note on Monday. Weiss Ratings reissued a "buy (b-)" rating on shares of Bank OZK in a research note on Tuesday, January 27th. Wall Street Zen raised shares of Bank OZK from a "sell" rating to a "hold" rating in a research note on Saturday, January 3rd. Finally, Citigroup reiterated a "sell" rating on shares of Bank OZK in a report on Monday, January 5th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $57.22.

Bank OZK Stock Performance

Shares of OZK opened at $46.83 on Thursday. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 7.59 and a beta of 0.93. The company's fifty day moving average is $48.10 and its 200-day moving average is $48.37. The company has a quick ratio of 1.03, a current ratio of 1.02 and a debt-to-equity ratio of 0.08. Bank OZK has a 12 month low of $35.71 and a 12 month high of $53.66.

Bank OZK (NASDAQ:OZK - Get Free Report) last issued its quarterly earnings data on Tuesday, January 20th. The company reported $1.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.56 by ($0.03). Bank OZK had a return on equity of 12.65% and a net margin of 25.50%.The business had revenue of $436.29 million during the quarter, compared to the consensus estimate of $434.68 million. During the same quarter in the prior year, the company posted $1.56 earnings per share. Equities analysts expect that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 20th. Stockholders of record on Tuesday, January 13th were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Tuesday, January 13th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.9%. This is a positive change from Bank OZK's previous quarterly dividend of $0.45. Bank OZK's payout ratio is currently 29.82%.

Bank OZK Profile

Bank OZK, formerly known as Bank of the Ozarks, is a regional commercial bank headquartered in Little Rock, Arkansas. Established in 1903, the bank offers a full suite of banking products and services to both individual and corporate clients. Through a combination of organic growth and targeted acquisitions, Bank OZK has built a diversified lending portfolio and a strong deposit franchise.

The bank's core operations focus on commercial real estate lending, including acquisition, development and construction financing.

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