1832 Asset Management L.P. Raises Stake in Bank OZK (NASDAQ:OZK)

1832 Asset Management L.P. lifted its stake in shares of Bank OZK (NASDAQ:OZK) by 65.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,461 shares of the company’s stock after purchasing an additional 6,511 shares during the quarter. 1832 Asset Management L.P.’s holdings in Bank OZK were worth $675,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in OZK. PSI Advisors LLC grew its position in Bank OZK by 20,933.3% during the second quarter. PSI Advisors LLC now owns 631 shares of the company’s stock worth $26,000 after buying an additional 628 shares during the period. LRI Investments LLC purchased a new stake in shares of Bank OZK during the 1st quarter worth approximately $29,000. Versant Capital Management Inc boosted its stake in shares of Bank OZK by 423.0% during the 2nd quarter. Versant Capital Management Inc now owns 978 shares of the company’s stock worth $40,000 after acquiring an additional 791 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Bank OZK in the 2nd quarter worth approximately $46,000. Finally, Pathway Financial Advisers LLC purchased a new position in Bank OZK in the 1st quarter valued at approximately $60,000. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Bank OZK Stock Performance

Shares of OZK opened at $41.72 on Friday. Bank OZK has a 1 year low of $34.76 and a 1 year high of $52.36. The company’s 50 day simple moving average is $42.57 and its 200 day simple moving average is $43.10. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of 6.99 and a beta of 1.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.02 and a current ratio of 1.02.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $1.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.52. The company had revenue of $416.78 million for the quarter, compared to analyst estimates of $414.39 million. Bank OZK had a return on equity of 14.50% and a net margin of 27.04%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.47 EPS. On average, sell-side analysts predict that Bank OZK will post 5.98 EPS for the current year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 12th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.84%. This is a positive change from Bank OZK’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, July 12th. Bank OZK’s dividend payout ratio (DPR) is presently 26.80%.

Wall Street Analysts Forecast Growth

OZK has been the topic of several research reports. StockNews.com raised Bank OZK from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Stephens reissued an “equal weight” rating and issued a $50.00 price objective on shares of Bank OZK in a research note on Thursday, July 18th. Wells Fargo & Company dropped their target price on shares of Bank OZK from $39.00 to $35.00 and set an “underweight” rating for the company in a report on Thursday, June 6th. Truist Financial reduced their price target on shares of Bank OZK from $49.00 to $48.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Finally, Raymond James cut shares of Bank OZK from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $46.57.

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.