Jupiter Asset Management Ltd. Takes Position in Bank OZK (NASDAQ:OZK)

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. bought a new position in Bank OZK (NASDAQ:OZK - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 41,994 shares of the company's stock, valued at approximately $1,825,000.

A number of other hedge funds also recently made changes to their positions in OZK. CX Institutional bought a new position in Bank OZK in the first quarter valued at about $30,000. Bruce G. Allen Investments LLC increased its stake in shares of Bank OZK by 4,828.6% in the first quarter. Bruce G. Allen Investments LLC now owns 1,035 shares of the company's stock valued at $45,000 after buying an additional 1,014 shares during the period. Aster Capital Management DIFC Ltd bought a new position in Bank OZK in the 4th quarter valued at approximately $54,000. UMB Bank n.a. raised its holdings 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 during the last quarter. Finally, Whipplewood Advisors LLC boosted its position in Bank OZK by 1,052.0% during the 1st quarter. Whipplewood Advisors LLC now owns 1,993 shares of the company's stock worth $87,000 after buying an additional 1,820 shares during the period. 86.18% of the stock is currently owned by institutional investors and hedge funds.

Bank OZK Trading Up 1.5%

OZK traded up $0.73 during trading on Friday, reaching $48.13. 552,546 shares of the stock traded hands, compared to its average volume of 1,202,080. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. The stock's 50-day moving average is $48.41 and its 200 day moving average is $46.50. Bank OZK has a 12 month low of $35.71 and a 12 month high of $53.64. The stock has a market capitalization of $5.47 billion, a PE ratio of 7.81 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 company 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 quarter in the prior year, the company earned $1.52 EPS. Equities analysts anticipate that Bank OZK will post 6.02 earnings per share for the current year.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Friday, July 11th were paid a $0.44 dividend. The ex-dividend date was Friday, July 11th. This represents a $1.76 annualized dividend and a dividend yield of 3.7%. This is an increase from Bank OZK's previous quarterly dividend of $0.43. Bank OZK's dividend payout ratio (DPR) is presently 28.57%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OZK. Keefe, Bruyette & Woods decreased their price target on shares of Bank OZK from $50.00 to $48.00 and set a "market perform" rating for the company in a research report on Tuesday, April 22nd. Stephens decreased their price objective on Bank OZK from $59.00 to $54.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Raymond James Financial raised Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 target price on the stock in a report on Tuesday, July 8th. Finally, Wells Fargo & Company increased their price target 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. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $52.88.

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.