Bridgefront Capital LLC acquired a new position in Bank OZK (NASDAQ:OZK – Get Rating) in the 3rd quarter, HoldingsChannel reports. The fund acquired 5,519 shares of the company’s stock, valued at approximately $218,000.
Several other large investors also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in Bank OZK by 3.6% in the 3rd quarter. State Street Corp now owns 12,694,232 shares of the company’s stock worth $502,184,000 after acquiring an additional 442,288 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Bank OZK by 2.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,697,247 shares of the company’s stock worth $264,943,000 after purchasing an additional 187,381 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Bank OZK by 6.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,565,671 shares of the company’s stock worth $109,555,000 after purchasing an additional 156,127 shares during the period. Jarislowsky Fraser Ltd boosted its stake in Bank OZK by 11.8% in the 3rd quarter. Jarislowsky Fraser Ltd now owns 2,102,579 shares of the company’s stock worth $83,178,000 after purchasing an additional 221,230 shares during the period. Finally, Copeland Capital Management LLC boosted its stake in Bank OZK by 0.9% in the 3rd quarter. Copeland Capital Management LLC now owns 1,568,195 shares of the company’s stock worth $62,038,000 after purchasing an additional 14,491 shares during the period. Hedge funds and other institutional investors own 76.17% of the company’s stock.
Analyst Ratings Changes
Several brokerages have commented on OZK. Keefe, Bruyette & Woods cut their target price on Bank OZK from $45.00 to $40.00 and set a “market perform” rating for the company in a research note on Wednesday, January 4th. StockNews.com began coverage on Bank OZK in a research note on Thursday. They issued a “hold” rating for the company. UBS Group upgraded Bank OZK from a “neutral” rating to a “buy” rating and cut their target price for the stock from $48.00 to $47.00 in a research note on Wednesday. Truist Financial lifted their price target on Bank OZK from $45.00 to $50.00 and gave the company a “hold” rating in a research report on Monday, January 23rd. Finally, Morgan Stanley lifted their price target on Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank OZK has a consensus rating of “Hold” and a consensus target price of $47.44.
Bank OZK Stock Performance
Bank OZK (NASDAQ:OZK – Get Rating) last released its earnings results on Thursday, January 19th. The company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The company had revenue of $360.03 million during the quarter, compared to the consensus estimate of $338.35 million. Bank OZK had a return on equity of 13.13% and a net margin of 40.86%. On average, sell-side analysts predict that Bank OZK will post 5.89 earnings per share for the current fiscal year.
Bank OZK Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 24th. Investors of record on Tuesday, January 17th were given a $0.34 dividend. This is an increase from Bank OZK’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, January 13th. This represents a $1.36 dividend on an annualized basis and a yield of 3.60%. Bank OZK’s payout ratio is presently 29.96%.
Bank OZK Profile
Bank OZK engages in the provision of community banking services. The firm offers deposit services such as checking, savings, money market, time deposit, and individual retirement accounts. It also provides loan services including types of real estate, consumer, commercial, industrial, and agricultural loans.
- Get a free copy of the StockNews.com research report on Bank OZK (OZK)
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