VIRGINIA RETIREMENT SYSTEMS ET Al Takes $9.95 Million Position in Bank OZK $OZK

Key Points

• Virginia Retirement Systems acquired 190,934 shares of Bank OZK worth approximately $9.95 million, representing about 0.17% of the bank; institutional investors collectively own 86.18% of the stock.
• Bank OZK slightly exceeded quarterly earnings expectations, reporting $1.49 EPS versus the $1.48 consensus, while revenue reached $430.02 million and rose 0.5% year over year.
• The bank raised its quarterly dividend to $0.48, yielding about 3.9% annually, and authorized a $200 million share-repurchase program. Analysts maintain a consensus “Hold” rating with an average price target of $56.88.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Bank OZK (NASDAQ:OZK - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 190,934 shares of the company's stock, valued at approximately $9,946,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.17% of Bank OZK as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in OZK. BOKF NA purchased a new position in shares of Bank OZK in the third quarter worth about $27,000. Eurizon Capital SGR S.p.A. purchased a new stake in Bank OZK during the 4th quarter valued at about $36,000. Transamerica Financial Advisors LLC grew its position in Bank OZK by 111.2% during the 4th quarter. Transamerica Financial Advisors LLC now owns 830 shares of the company's stock worth $38,000 after acquiring an additional 437 shares during the last quarter. Employees Retirement System of Texas bought a new position in Bank OZK during the 3rd quarter worth approximately $51,000. Finally, Atlas Capital Advisors Inc. purchased a new position in Bank OZK in the 4th quarter worth approximately $47,000. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

Bank OZK Stock Performance

Shares of OZK stock opened at $49.26 on Wednesday. The stock has a fifty day moving average of $50.65 and a 200 day moving average of $48.78. Bank OZK has a 52 week low of $42.37 and a 52 week high of $53.41. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of 8.14 and a beta of 0.88. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.08.

Bank OZK (NASDAQ:OZK - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.48 by $0.01. Bank OZK had a net margin of 24.95% and a return on equity of 11.87%. The business had revenue of $430.02 million for the quarter, compared to the consensus estimate of $436.42 million. During the same period in the previous year, the firm earned $1.47 EPS. The company's quarterly revenue was up .5% compared to the same quarter last year. As a group, research analysts expect that Bank OZK will post 5.83 earnings per share for the current year.

Bank OZK declared that its board has approved a share buyback plan on Monday, June 29th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Monday, July 13th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.9%. This is a boost from Bank OZK's previous quarterly dividend of $0.47. The ex-dividend date was Monday, July 13th. Bank OZK's dividend payout ratio (DPR) is 31.74%.

Analysts Set New Price Targets

Several analysts have weighed in on OZK shares. Wall Street Zen upgraded Bank OZK from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Wells Fargo & Company lifted their target price on shares of Bank OZK from $52.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Monday, August 10th. Zacks Research lowered shares of Bank OZK from a "hold" rating to a "strong sell" rating in a report on Thursday, August 13th. Citigroup reissued a "sell" rating on shares of Bank OZK in a research report on Monday, August 17th. Finally, Morgan Stanley lowered shares of Bank OZK from an "equal weight" rating to an "underweight" rating and set a $56.00 price target on the stock. in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $56.88.

Bank OZK Company Profile

Bank OZK, formerly known as Bank of the Ozarks, is a regional commercial bank headquartered in Little Rock, Arkansas. Established in 1903, the bank offers a full suite of banking products and services to both individual and corporate clients. Through a combination of organic growth and targeted acquisitions, Bank OZK has built a diversified lending portfolio and a strong deposit franchise.

The bank's core operations focus on commercial real estate lending, including acquisition, development and construction financing.

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