41,994 Shares in Bank OZK (NASDAQ:OZK) Bought by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. acquired 41,994 shares of Bank OZK, valued at approximately $1,825,000, marking their entry into the company's stock during the 1st quarter.
• Bank OZK recently increased its quarterly dividend to $0.44 per share, representing an annualized dividend of $1.76 and a dividend yield of 3.6%.
• Analysts have varying price targets for Bank OZK, with a consensus rating of "Hold" and an average target price of $52.88, following recent adjustments by several brokerages.

Jupiter Asset Management Ltd. acquired a new stake in Bank OZK (NASDAQ:OZK - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 41,994 shares of the company's stock, valued at approximately $1,825,000.

Other institutional investors have also recently added to or reduced their stakes in the company. CX Institutional purchased a new stake in shares of Bank OZK in the first quarter valued at about $30,000. Bruce G. Allen Investments LLC raised its position in shares of Bank OZK by 4,828.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 1,035 shares of the company's stock worth $45,000 after purchasing an additional 1,014 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Bank OZK in the 4th quarter valued at approximately $54,000. UMB Bank n.a. lifted its stake in Bank OZK by 2,014.3% in the 1st quarter. UMB Bank n.a. now owns 1,480 shares of the company's stock valued at $64,000 after buying an additional 1,410 shares in the last quarter. Finally, Whipplewood Advisors LLC grew its holdings in Bank OZK by 1,052.0% during the 1st quarter. Whipplewood Advisors LLC now owns 1,993 shares of the company's stock valued at $87,000 after buying an additional 1,820 shares during the last quarter. Hedge funds and other institutional investors own 86.18% of the company's stock.

Analyst Ratings Changes

OZK has been the topic of a number of recent analyst reports. Stephens reduced their price target on Bank OZK from $59.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. 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. Raymond James Financial raised Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 price target on the stock in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Bank OZK from $50.00 to $48.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Bank OZK presently has an average rating of "Hold" and an average price target of $52.88.

Bank OZK Price Performance

NASDAQ:OZK traded down $0.74 during mid-day trading on Wednesday, reaching $47.95. 814,481 shares of the stock were exchanged, compared to its average volume of 1,179,898. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.23. The business has a fifty day moving average price of $48.29 and a 200 day moving average price of $46.51. Bank OZK has a 1-year low of $35.71 and a 1-year high of $53.64. The firm has a market capitalization of $5.45 billion, a PE ratio of 7.90 and a beta of 0.86.

Bank OZK (NASDAQ:OZK - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.51 by $0.07. The business had revenue of $428.04 million during the quarter, compared to the consensus estimate 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 prior year, the business posted $1.52 earnings per share. Research analysts expect that Bank OZK will post 6.02 earnings per share for the current fiscal 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 paid a dividend of $0.44 per share. This is a boost from Bank OZK's previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.76 annualized dividend and a yield of 3.7%. Bank OZK's dividend payout ratio (DPR) is presently 28.57%.

Bank OZK Company 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.