Livforsakringsbolaget Skandia Omsesidigt Invests $3.29 Million in Bank OZK $OZK

Key Points

• Livforsakringsbolaget Skandia Omsesidigt acquired 63,200 Bank OZK shares worth approximately $3.29 million, while institutional investors collectively own 86.18% of the stock.
• Bank OZK slightly exceeded quarterly earnings expectations, reporting $1.49 in EPS versus the $1.48 consensus, though revenue of $430.02 million fell short of estimates.
• The bank authorized a $200 million share-repurchase program and raised its quarterly dividend to $0.48 per share, resulting in a 3.9% annualized yield; analysts maintain a consensus “Hold” rating with a $56.88 price target.

Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Bank OZK (NASDAQ:OZK - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 63,200 shares of the company's stock, valued at approximately $3,291,000. Livforsakringsbolaget Skandia Omsesidigt owned about 0.06% of Bank OZK as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Royal Bank of Canada raised its holdings in shares of Bank OZK by 37.8% in the 1st quarter. Royal Bank of Canada now owns 41,257 shares of the company's stock worth $1,792,000 after purchasing an additional 11,310 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Bank OZK by 14.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,690 shares of the company's stock worth $2,029,000 after buying an additional 5,717 shares during the period. Empowered Funds LLC grew its stake in shares of Bank OZK by 1.8% in the first quarter. Empowered Funds LLC now owns 60,037 shares of the company's stock valued at $2,609,000 after buying an additional 1,058 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Bank OZK by 8.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 349,749 shares of the company's stock valued at $15,197,000 after buying an additional 26,676 shares during the period. Finally, Focus Partners Wealth boosted its holdings in Bank OZK by 11.0% in the 1st quarter. Focus Partners Wealth now owns 17,711 shares of the company's stock worth $770,000 after acquiring an additional 1,756 shares during the period. 86.18% of the stock is owned by hedge funds and other institutional investors.

Bank OZK Stock Performance

Shares of OZK opened at $49.40 on Friday. Bank OZK has a one year low of $42.37 and a one year high of $53.66. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market cap of $5.53 billion, a price-to-earnings ratio of 8.17 and a beta of 0.89. The company has a 50-day moving average of $50.89 and a two-hundred day moving average of $48.80.

Bank OZK (NASDAQ:OZK - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.48 by $0.01. The business had revenue of $430.02 million for the quarter, compared to the consensus estimate of $436.42 million. Bank OZK had a return on equity of 11.87% and a net margin of 24.95%.Bank OZK's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.47 earnings per share. On average, equities research analysts expect that Bank OZK will post 5.85 earnings per share for the current year.

Bank OZK declared that its Board of Directors has authorized a stock repurchase program on Monday, June 29th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Monday, July 13th were issued a dividend of $0.48 per share. The ex-dividend date was Monday, July 13th. This represents a $1.92 annualized dividend and a dividend yield of 3.9%. This is an increase from Bank OZK's previous quarterly dividend of $0.47. Bank OZK's dividend payout ratio is presently 31.74%.

Wall Street Analyst Weigh In

Several research firms recently commented on OZK. Morgan Stanley boosted their price target on Bank OZK from $54.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Monday, June 29th. Zacks Research downgraded shares of Bank OZK from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 13th. Wall Street Zen raised Bank OZK from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Piper Sandler reaffirmed an "overweight" rating and issued a $61.00 price target on shares of Bank OZK in a report on Wednesday, July 22nd. Finally, Weiss Ratings raised Bank OZK from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, June 23rd. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Bank OZK has an average rating of "Hold" and an average price target of $56.88.

Bank OZK Company 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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