Worth Asset Management LLC Makes New Investment in Bank OZK $OZK

Key Points

• Worth Asset Management LLC acquired a new position in Bank OZK, purchasing 11,539 shares valued at approximately $543,000 during Q2 as per its recent SEC filing.
• Bank OZK has recently increased its quarterly dividend to $0.44, up from $0.43, providing an annualized yield of 3.3% with a payout ratio of 28.57%.
• Following strong earnings, analysts have upgraded Bank OZK's stock ratings, with Stephens raising the price target to $65.00 and three analysts rating the stock as a "Buy."

Worth Asset Management LLC bought a new position in Bank OZK (NASDAQ:OZK - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,539 shares of the company's stock, valued at approximately $543,000.

Other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Bank OZK by 5.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,350,220 shares of the company's stock worth $189,017,000 after buying an additional 220,214 shares during the last quarter. American Century Companies Inc. lifted its holdings in Bank OZK by 10.5% in the first quarter. American Century Companies Inc. now owns 2,405,292 shares of the company's stock worth $104,510,000 after purchasing an additional 228,295 shares during the period. Bank of New York Mellon Corp lifted its holdings in Bank OZK by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 1,127,576 shares of the company's stock valued at $48,993,000 after acquiring an additional 23,492 shares during the last quarter. Newport Trust Company LLC lifted its holdings in Bank OZK by 0.6% in the 1st quarter. Newport Trust Company LLC now owns 656,987 shares of the company's stock valued at $28,546,000 after acquiring an additional 4,146 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in Bank OZK by 1.2% in the 4th quarter. Nuveen Asset Management LLC now owns 503,367 shares of the company's stock valued at $22,415,000 after acquiring an additional 6,053 shares during the last quarter. 86.18% of the stock is owned by institutional investors and hedge funds.

Bank OZK Stock Performance

Bank OZK stock traded up $0.65 during trading hours on Tuesday, reaching $52.28. 125,078 shares of the company were exchanged, compared to its average volume of 1,142,669. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 8.50 and a beta of 0.92. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average of $51.04 and a 200 day moving average of $46.81. Bank OZK has a 12 month low of $35.71 and a 12 month high of $53.66.

Bank OZK (NASDAQ:OZK - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.51 by $0.07. The firm had revenue of $428.04 million during the quarter, compared to analysts' expectations 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 business earned $1.52 earnings per share. As a group, research analysts anticipate that Bank OZK will post 6.02 earnings per share for the current year.

Bank OZK Increases Dividend

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on OZK shares. Stephens upgraded 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. Wells Fargo & Company upped their target price on Bank OZK from $48.00 to $49.00 and gave the company an "equal weight" rating in a report on Monday, July 21st. Finally, Raymond James Financial upgraded Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 target price on the stock in a report on Tuesday, July 8th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $54.25.

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.