United Services Automobile Association Invests $296,000 in Bank OZK $OZK

Key Points

• United Services Automobile Association invested approximately $296,000 in Bank OZK, acquiring 6,780 shares in the first quarter.
• Bank OZK recently increased its quarterly dividend to $0.44 per share, which translates to an annualized dividend of $1.76 and a yield of 3.4%.
• Analysts are optimistic about Bank OZK's outlook, with various firms raising their price targets, indicating a current consensus target of $54.25 for the stock.

United Services Automobile Association purchased a new position in Bank OZK (NASDAQ:OZK - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,780 shares of the company's stock, valued at approximately $296,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Cetera Investment Advisers boosted its stake in Bank OZK by 19.4% during the 4th quarter. Cetera Investment Advisers now owns 38,712 shares of the company's stock worth $1,724,000 after purchasing an additional 6,281 shares during the last quarter. Deutsche Bank AG grew its stake in Bank OZK by 1.3% during the 4th quarter. Deutsche Bank AG now owns 34,815 shares of the company's stock valued at $1,550,000 after acquiring an additional 455 shares in the last quarter. Focus Partners Wealth lifted its stake in Bank OZK by 17.3% in the 4th quarter. Focus Partners Wealth now owns 15,955 shares of the company's stock worth $710,000 after purchasing an additional 2,353 shares in the last quarter. Gotham Asset Management LLC boosted its holdings in shares of Bank OZK by 8.1% during the 4th quarter. Gotham Asset Management LLC now owns 5,842 shares of the company's stock worth $260,000 after purchasing an additional 436 shares during the last quarter. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Bank OZK in the fourth quarter valued at approximately $853,000. 86.18% of the stock is owned by institutional investors and hedge funds.

Bank OZK Stock Up 1.4%

NASDAQ:OZK traded up $0.74 during mid-day trading on Wednesday, hitting $51.94. The stock had a trading volume of 647,631 shares, compared to its average volume of 1,136,900. The company has a market capitalization of $5.91 billion, a PE ratio of 8.45 and a beta of 0.92. The stock has a 50-day simple moving average of $51.01 and a two-hundred day simple moving average of $46.62. Bank OZK has a twelve month low of $35.71 and a twelve month high of $53.66. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23.

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, beating the consensus estimate of $1.51 by $0.07. The firm 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 posted $1.52 earnings per share. On average, equities research analysts anticipate that Bank OZK will post 6.02 EPS 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 given a dividend of $0.44 per share. The ex-dividend date was Friday, July 11th. This represents a $1.76 annualized dividend and a dividend yield of 3.4%. This is a boost from Bank OZK's previous quarterly dividend of $0.43. Bank OZK's payout ratio is presently 28.57%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. 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 note on Tuesday, July 8th. Stephens raised shares of Bank OZK from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $58.00 to $65.00 in a report on Wednesday, August 20th. Finally, Wells Fargo & Company boosted their target price 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 company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $54.25.

About Bank OZK

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.