Verition Fund Management LLC purchased a new stake in Bank OZK (NASDAQ:OZK – Get Rating) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,727 shares of the company's stock, valued at approximately $202,000.
A number of other large investors also recently made changes to their positions in OZK. JPMorgan Chase & Co. raised its stake in Bank OZK by 7.1% during the 4th quarter. JPMorgan Chase & Co. now owns 381,383 shares of the company's stock worth $17,746,000 after buying an additional 25,183 shares during the period. Renaissance Technologies LLC raised its stake in Bank OZK by 8.0% during the 4th quarter. Renaissance Technologies LLC now owns 261,997 shares of the company's stock worth $12,191,000 after buying an additional 19,500 shares during the period. Geode Capital Management LLC raised its stake in Bank OZK by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 1,616,195 shares of the company's stock worth $75,201,000 after buying an additional 32,174 shares during the period. Gotham Asset Management LLC raised its stake in Bank OZK by 53.0% during the 4th quarter. Gotham Asset Management LLC now owns 11,432 shares of the company's stock worth $532,000 after buying an additional 3,962 shares during the period. Finally, LPL Financial LLC raised its stake in Bank OZK by 1.8% during the 4th quarter. LPL Financial LLC now owns 264,947 shares of the company's stock worth $12,328,000 after buying an additional 4,628 shares during the period. Institutional investors and hedge funds own 78.68% of the company's stock.
Get Bank OZK alerts:Bank OZK Price Performance
NASDAQ:OZK opened at $38.73 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.23. The stock's 50 day moving average price is $40.91 and its two-hundred day moving average price is $40.28. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 9.03 and a beta of 1.44. Bank OZK has a 12-month low of $34.79 and a 12-month high of $51.39.
Bank OZK (NASDAQ:OZK – Get Rating) last released its quarterly earnings data on Thursday, July 21st. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.08. Bank OZK had a return on equity of 12.42% and a net margin of 45.73%. The firm had revenue of $292.11 million for the quarter, compared to analyst estimates of $285.40 million. During the same quarter in the prior year, the company earned $1.16 earnings per share. On average, analysts anticipate that Bank OZK will post 4.49 earnings per share for the current year.Bank OZK Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 22nd. Stockholders of record on Friday, July 15th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.30%. This is an increase from Bank OZK's previous quarterly dividend of $0.31. The ex-dividend date was Thursday, July 14th. Bank OZK's payout ratio is presently 29.84%.
Analyst Upgrades and Downgrades
Several brokerages recently commented on OZK. Wells Fargo & Company downgraded Bank OZK from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $58.00 to $42.00 in a research note on Thursday, July 7th. Truist Financial increased their target price on Bank OZK from $42.00 to $45.00 and gave the stock a "hold" rating in a report on Wednesday, September 14th. UBS Group decreased their price objective on Bank OZK from $48.00 to $44.00 and set a "neutral" rating for the company in a report on Friday, July 29th. Stephens raised their price objective on Bank OZK to $45.00 in a report on Tuesday, July 26th. Finally, Piper Sandler decreased their price objective on Bank OZK to $54.00 in a report on Friday, July 22nd. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $47.88.
Bank OZK Profile
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Bank OZK provides various retail and commercial banking services. It accepts various deposit products, including non-interest-bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time deposits. The company also offers real estate, consumer and business purpose, indirect recreational vehicle and marine, commercial and industrial, government guaranteed, agricultural, small business, homebuilder, and affordable housing loans; business aviation and subscription financing services; and mortgage and other lending products.
Further Reading
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