Mountain Lake Investment Management LLC Makes New $1.54 Million Investment in Bank OZK $OZK

Key Points

• Mountain Lake Investment Management LLC has acquired a new stake in Bank OZK, purchasing 35,430 shares valued at approximately $1,539,000, making it the fund's 17th biggest holding.
• Bank OZK has increased its quarterly dividend to $0.44 per share, up from $0.43, representing an annual yield of 3.4% with a dividend payout ratio of 28.57%.
• Following recent earnings results, analysts have upgraded Bank OZK with varying price targets; Raymond James set a target of $58.00, while Wells Fargo and Stephens also raised their targets, indicating positive market sentiment.

Mountain Lake Investment Management LLC purchased a new stake in Bank OZK (NASDAQ:OZK - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 35,430 shares of the company's stock, valued at approximately $1,539,000. Bank OZK accounts for about 1.4% of Mountain Lake Investment Management LLC's portfolio, making the stock its 17th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in OZK. Northern Trust Corp grew its holdings in Bank OZK by 35.1% in the 4th quarter. Northern Trust Corp now owns 1,015,853 shares of the company's stock valued at $45,236,000 after buying an additional 263,913 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Bank OZK in the fourth quarter valued at about $340,000. BNP Paribas Financial Markets grew its stake in shares of Bank OZK by 3.2% in the fourth quarter. BNP Paribas Financial Markets now owns 321,758 shares of the company's stock valued at $14,328,000 after acquiring an additional 9,892 shares in the last quarter. Baird Financial Group Inc. increased its position in Bank OZK by 22.9% during the fourth quarter. Baird Financial Group Inc. now owns 21,013 shares of the company's stock worth $936,000 after acquiring an additional 3,911 shares during the period. Finally, Cetera Investment Advisers raised its position in shares of Bank OZK by 19.4% in the fourth quarter. Cetera Investment Advisers now owns 38,712 shares of the company's stock valued at $1,724,000 after buying an additional 6,281 shares in the last quarter. Institutional investors and hedge funds own 86.18% of the company's stock.

Bank OZK Stock Up 0.5%

NASDAQ:OZK traded up $0.26 on Wednesday, hitting $52.25. The stock had a trading volume of 909,054 shares, compared to its average volume of 1,151,845. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.23. Bank OZK has a 52 week low of $35.71 and a 52 week high of $53.66. The business's fifty day moving average is $50.92 and its 200 day moving average is $46.47. The company has a market cap of $5.94 billion, a PE ratio of 8.48 and a beta of 0.92.

Bank OZK (NASDAQ:OZK - Get Free Report) last posted its earnings results on Thursday, July 17th. The company reported $1.58 EPS 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 company had revenue of $428.04 million during the quarter, compared to the consensus estimate of $423.41 million. During the same period in the previous year, the firm posted $1.52 earnings per share. On average, equities research analysts expect that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Friday, July 11th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, July 11th. This is a positive change from Bank OZK's previous quarterly dividend of $0.43. This represents a $1.76 annualized dividend and a dividend yield of 3.4%. Bank OZK's payout ratio is presently 28.57%.

Analysts Set New Price Targets

A number of research analysts recently commented on OZK shares. Raymond James Financial raised Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 price target for the company in a research note on Tuesday, July 8th. Stephens upgraded Bank OZK from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $58.00 to $65.00 in a research note on Wednesday, August 20th. Finally, Wells Fargo & Company raised their price objective on shares of Bank OZK from $48.00 to $49.00 and gave the company an "equal weight" rating in a report on Monday, July 21st. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $54.25.

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.