Vident Advisory LLC Makes New Investment in Bank OZK $OZK

Key Points

• Vident Advisory LLC acquired 7,928 shares of Bank OZK valued at approximately $344,000 in the first quarter of this year.
• Bank OZK's stock received upgrades from analysts, with Raymond James Financial raising its price target to $58.00 and Stephens increasing it to $65.00.
• The bank announced a quarterly dividend increase to $0.44 per share, reflecting a 3.4% dividend yield on an annualized basis.

Vident Advisory LLC bought a new stake in Bank OZK (NASDAQ:OZK - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,928 shares of the company's stock, valued at approximately $344,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Tidal Investments LLC increased its holdings 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 purchasing an additional 205 shares during the last quarter. National Bank of Canada FI grew its stake in Bank OZK by 12.8% in the first quarter. National Bank of Canada FI now owns 1,960 shares of the company's stock valued at $85,000 after purchasing an additional 223 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Bank OZK by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 29,600 shares of the company's stock worth $1,286,000 after acquiring an additional 300 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Bank OZK by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 12,359 shares of the company's stock worth $536,000 after purchasing an additional 330 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC raised its holdings in Bank OZK by 0.9% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 38,327 shares of the company's stock valued at $1,707,000 after acquiring an additional 347 shares in the last quarter. 86.18% of the stock is owned by institutional investors and hedge funds.

Bank OZK Stock Performance

Bank OZK stock traded down $0.31 during trading on Friday, hitting $52.19. The stock had a trading volume of 470,019 shares, compared to its average volume of 730,635. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 8.47 and a beta of 0.92. The stock's 50 day moving average is $50.99 and its two-hundred day moving average is $46.57. Bank OZK has a 1 year low of $35.71 and a 1 year high of $53.66. 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 (NASDAQ:OZK - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.51 by $0.07. The business had revenue of $428.04 million for the quarter, compared to the consensus estimate 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 last year, the business posted $1.52 earnings per share. As a group, analysts predict that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Increases Dividend

The firm also recently announced 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 positive change from Bank OZK's previous quarterly dividend of $0.43. Bank OZK's dividend payout ratio is currently 28.57%.

Wall Street Analyst Weigh In

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

Bank OZK 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.