Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Bank OZK (NASDAQ:OZK – Free Report) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 96,641 shares of the company’s stock, valued at approximately $4,442,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in Bank OZK by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 6,625,660 shares of the company’s stock valued at $304,045,000 after purchasing an additional 38,592 shares during the period. First Trust Advisors LP grew its stake in shares of Bank OZK by 4.6% during the 1st quarter. First Trust Advisors LP now owns 3,036,101 shares of the company’s stock valued at $139,327,000 after acquiring an additional 134,490 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Bank OZK during the 2nd quarter valued at approximately $63,410,000. Quantinno Capital Management LP increased its holdings in Bank OZK by 41.7% in the 1st quarter. Quantinno Capital Management LP now owns 929,888 shares of the company’s stock worth $42,673,000 after acquiring an additional 273,543 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Bank OZK by 5.5% in the 1st quarter. Renaissance Technologies LLC now owns 918,897 shares of the company’s stock worth $42,168,000 after acquiring an additional 48,300 shares in the last quarter. 86.18% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on OZK shares. TD Cowen lowered their price target on shares of Bank OZK from $52.00 to $50.00 and set a “hold” rating on the stock in a report on Monday, October 5th. Wall Street Zen raised shares of Bank OZK from a “sell” rating to a “hold” rating in a research note on Sunday, September 27th. Citigroup restated a “sell” rating on shares of Bank OZK in a research report on Tuesday, October 6th. Keefe, Bruyette & Woods raised their price target on Bank OZK from $52.00 to $54.00 and gave the company a “market perform” rating in a report on Friday, October 30th. Finally, Zacks Research raised Bank OZK from a “strong sell” rating to a “hold” rating in a research note on Friday, September 25th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Bank OZK presently has an average rating of “Hold” and a consensus price target of $55.14.
Check Out Our Latest Stock Analysis on OZK
Bank OZK Price Performance
Shares of OZK stock traded down $0.45 during mid-day trading on Friday, hitting $50.64. The company had a trading volume of 925,704 shares, compared to its average volume of 2,131,903. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.98 and a quick ratio of 0.97. The stock’s 50 day moving average price is $48.04 and its 200-day moving average price is $48.56. Bank OZK has a 52-week low of $42.37 and a 52-week high of $53.39. The company has a market capitalization of $5.67 billion, a P/E ratio of 8.50 and a beta of 0.90.
Bank OZK (NASDAQ:OZK – Get Free Report) last announced its quarterly earnings results on Tuesday, October 20th. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.07. The company had revenue of $391.48 million for the quarter, compared to the consensus estimate of $434.83 million. Bank OZK had a net margin of 24.70% and a return on equity of 11.56%. During the same period in the previous year, the firm posted $1.59 EPS. Equities research analysts forecast that Bank OZK will post 5.91 earnings per share for the current year.
Bank OZK Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 20th. Investors of record on Tuesday, October 13th were given a $0.49 dividend. This is an increase from Bank OZK’s previous quarterly dividend of $0.48. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Tuesday, October 13th. Bank OZK’s dividend payout ratio (DPR) is presently 32.89%.
Bank OZK Company Profile
Bank OZK (NASDAQ:OZK) is a regional financial institution headquartered in Little Rock, Arkansas. The company provides banking services to individuals, businesses and institutions, including deposit accounts, commercial and consumer loans, mortgage lending, treasury management and online and mobile banking.
Bank OZK also operates specialized lending businesses, including its Real Estate Specialties Group, which provides financing for commercial real estate development and other complex real estate projects.
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