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 position in Bank OZK (NASDAQ:OZK - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,928 shares of the company's stock, valued at approximately $344,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OZK. CX Institutional purchased a new stake in Bank OZK in the 1st quarter worth approximately $30,000. Summit Securities Group LLC purchased a new stake in shares of Bank OZK during the 1st quarter valued at $32,000. Bruce G. Allen Investments LLC grew its stake in shares of Bank OZK by 4,828.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 1,035 shares of the company's stock valued at $45,000 after buying an additional 1,014 shares during the period. Brooklyn Investment Group grew its stake in shares of Bank OZK by 1,114.3% during the 1st quarter. Brooklyn Investment Group now owns 1,105 shares of the company's stock valued at $48,000 after buying an additional 1,014 shares during the period. Finally, UMB Bank n.a. grew its stake in shares of Bank OZK by 2,014.3% during the 1st quarter. UMB Bank n.a. now owns 1,480 shares of the company's stock valued at $64,000 after buying an additional 1,410 shares during the period. 86.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Raymond James Financial raised shares of Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 price objective for the company in a research note on Tuesday, July 8th. Wells Fargo & Company lifted 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. Finally, Stephens upgraded shares of Bank OZK from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $58.00 to $65.00 in a report on Wednesday, August 20th. 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 company presently has a consensus rating of "Hold" and an average target price of $54.25.

Bank OZK Stock Performance

Shares of Bank OZK stock opened at $52.53 on Tuesday. The firm has a market cap of $5.97 billion, a PE ratio of 8.53 and a beta of 0.92. The firm's 50-day simple moving average is $50.86 and its 200-day simple moving average is $46.43. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.04. Bank OZK has a 1 year low of $35.71 and a 1 year high of $53.66.

Bank OZK (NASDAQ:OZK - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $1.58 earnings per share (EPS) 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 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 in the prior year, the business posted $1.52 EPS. Equities analysts forecast that Bank OZK will post 6.02 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Friday, July 11th were paid a $0.44 dividend. This is a boost from Bank OZK's previous quarterly dividend of $0.43. The ex-dividend date was Friday, July 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.4%. Bank OZK's dividend payout ratio (DPR) is currently 28.57%.

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.

Want to see what other hedge funds are holding OZK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank OZK (NASDAQ:OZK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.