Public Sector Pension Investment Board Takes $8.50 Million Position in Bank OZK $OZK

Key Points

• The Public Sector Pension Investment Board has acquired a new stake of 195,632 shares in Bank OZK, valued at approximately $8.5 million, increasing its ownership to 0.17% as of the latest SEC filing.
• Bank OZK reported a quarterly earnings per share (EPS) of $1.58, exceeding expectations, with revenues of $428.04 million during the quarter.
• The bank increased its quarterly dividend from $0.43 to $0.44, resulting in an annualized payout of $1.76 and a yield of 3.6%.

Public Sector Pension Investment Board bought a new position in shares of Bank OZK (NASDAQ:OZK - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 195,632 shares of the company's stock, valued at approximately $8,500,000. Public Sector Pension Investment Board owned 0.17% of Bank OZK at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tidal Investments LLC raised its stake in Bank OZK by 1.0% during the 4th quarter. Tidal Investments LLC now owns 21,575 shares of the company's stock worth $961,000 after buying an additional 205 shares during the period. National Bank of Canada FI boosted its holdings in shares of Bank OZK by 12.8% in the first quarter. National Bank of Canada FI now owns 1,960 shares of the company's stock worth $85,000 after acquiring an additional 223 shares during the period. Bank of Montreal Can boosted its holdings in shares of Bank OZK by 0.5% in the fourth quarter. Bank of Montreal Can now owns 46,832 shares of the company's stock worth $2,085,000 after acquiring an additional 241 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Bank OZK by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 29,600 shares of the company's stock worth $1,286,000 after buying an additional 300 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of Bank OZK by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 12,359 shares of the company's stock worth $536,000 after buying an additional 330 shares in the last quarter. 86.18% of the stock is owned by institutional investors and hedge funds.

Bank OZK Stock Performance

Shares of NASDAQ OZK traded up $0.17 during midday trading on Monday, reaching $49.49. The company had a trading volume of 421,477 shares, compared to its average volume of 1,187,201. 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's 50-day simple moving average is $48.95 and its 200 day simple moving average is $46.37. Bank OZK has a 1 year low of $35.71 and a 1 year high of $53.64. The stock has a market cap of $5.63 billion, a P/E ratio of 8.02 and a beta of 0.86.

Bank OZK (NASDAQ:OZK - Get Free Report) last released its quarterly 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 net margin of 25.83% and a return on equity of 13.24%. During the same quarter last year, the business earned $1.52 earnings per share. On average, analysts forecast that Bank OZK will post 6.02 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently declared 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 was Friday, July 11th. This is a boost from Bank OZK's previous quarterly dividend of $0.43. This represents a $1.76 dividend on an annualized basis and a yield of 3.6%. Bank OZK's dividend payout ratio (DPR) is presently 28.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on OZK shares. Keefe, Bruyette & Woods lowered their price target on Bank OZK from $50.00 to $48.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. Raymond James Financial raised Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 price objective on the stock in a research report on Tuesday, July 8th. Stephens lowered their target price on shares of Bank OZK from $59.00 to $54.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Finally, Wells Fargo & Company boosted their price objective on shares of Bank OZK from $48.00 to $49.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Bank OZK has an average rating of "Hold" and an average 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.