Mirae Asset Global Investments Co. Ltd. Raises Stake in Bank OZK (NASDAQ:OZK)

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Bank OZK (NASDAQ:OZK - Free Report) by 229.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 38,382 shares of the company's stock after purchasing an additional 26,741 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Bank OZK were worth $1,913,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. grew its position in shares of Bank OZK by 1,508.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 4,313,676 shares of the company's stock valued at $173,237,000 after acquiring an additional 4,045,472 shares during the period. Royal Bank of Canada boosted its holdings in Bank OZK by 105.3% in the 2nd quarter. Royal Bank of Canada now owns 75,615 shares of the company's stock worth $3,037,000 after buying an additional 1,502,923 shares during the period. State Street Corp boosted its holdings in Bank OZK by 10.7% in the 1st quarter. State Street Corp now owns 12,791,703 shares of the company's stock worth $437,476,000 after buying an additional 1,235,144 shares during the period. Norges Bank bought a new position in Bank OZK in the 4th quarter worth $46,878,000. Finally, Millennium Management LLC boosted its holdings in Bank OZK by 204.2% in the 4th quarter. Millennium Management LLC now owns 1,409,391 shares of the company's stock worth $56,460,000 after buying an additional 946,106 shares during the period. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

Bank OZK Trading Up 2.6 %

OZK stock traded up $1.14 during mid-day trading on Friday, reaching $44.94. The company had a trading volume of 1,690,688 shares, compared to its average volume of 915,630. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.01 and a quick ratio of 1.03. The company has a market capitalization of $5.08 billion, a PE ratio of 7.53 and a beta of 1.27. The firm has a 50 day moving average of $43.42 and a 200 day moving average of $43.22. Bank OZK has a 12 month low of $30.72 and a 12 month high of $52.36.

Bank OZK (NASDAQ:OZK - Get Free Report) last released its quarterly earnings data on Thursday, April 18th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.44 by $0.07. Bank OZK had a net margin of 28.54% and a return on equity of 14.84%. The firm had revenue of $406.02 million for the quarter, compared to the consensus estimate of $396.81 million. During the same period last year, the firm earned $1.41 earnings per share. On average, equities analysts predict that Bank OZK will post 5.87 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 19th. Stockholders of record on Friday, April 12th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, April 11th. This is an increase from Bank OZK's previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.47%. Bank OZK's dividend payout ratio (DPR) is currently 26.13%.

Analyst Upgrades and Downgrades

Several research analysts have commented on OZK shares. Citigroup dropped their price objective on shares of Bank OZK from $62.00 to $57.00 and set a "buy" rating for the company in a report on Wednesday, March 13th. StockNews.com cut shares of Bank OZK from a "hold" rating to a "sell" rating in a research report on Friday, March 22nd. UBS Group cut shares of Bank OZK from a "buy" rating to a "neutral" rating in a research report on Monday, January 8th. Wells Fargo & Company reduced their price objective on shares of Bank OZK from $41.00 to $39.00 and set an "underweight" rating on the stock in a research report on Thursday, February 1st. Finally, Raymond James raised shares of Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 price objective on the stock in a research report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Bank OZK currently has an average rating of "Hold" and a consensus target price of $48.14.

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.