BI Asset Management Fondsmaeglerselskab A S Takes $1.70 Million Position in Bank OZK (NASDAQ:OZK)

BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Bank OZK (NASDAQ:OZK) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 49,827 shares of the company’s stock, valued at approximately $1,704,000.

Several other institutional investors and hedge funds have also recently modified their holdings of OZK. Lazard Asset Management LLC bought a new stake in Bank OZK in the 1st quarter worth about $25,000. Geneos Wealth Management Inc. increased its holdings in Bank OZK by 94.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 776 shares of the company’s stock worth $33,000 after buying an additional 376 shares in the last quarter. Covestor Ltd increased its holdings in Bank OZK by 56.6% in the 1st quarter. Covestor Ltd now owns 896 shares of the company’s stock worth $38,000 after buying an additional 324 shares in the last quarter. Coppell Advisory Solutions Corp. bought a new stake in Bank OZK in the 4th quarter worth about $42,000. Finally, Point72 Asset Management L.P. bought a new stake in Bank OZK in the 4th quarter worth about $52,000. 84.84% of the stock is currently owned by institutional investors.

Bank OZK Stock Up 2.3 %

OZK stock opened at $41.08 on Friday. Bank OZK has a twelve month low of $30.72 and a twelve month high of $49.52. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The stock has a market cap of $5.15 billion, a P/E ratio of 7.75 and a beta of 1.43. The business’s 50-day moving average price is $41.43 and its 200-day moving average price is $38.80.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings data on Friday, July 21st. The company reported $1.47 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.01). Bank OZK had a net margin of 35.47% and a return on equity of 14.60%. The company had revenue of $388.81 million for the quarter, compared to analysts’ expectations of $374.41 million. During the same period in the previous year, the firm earned $1.10 earnings per share. The firm’s quarterly revenue was up 33.1% on a year-over-year basis. On average, equities research analysts forecast that Bank OZK will post 5.74 EPS for the current year.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 14th were given a dividend of $0.36 per share. This is a boost from Bank OZK’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend was Thursday, July 13th. Bank OZK’s payout ratio is presently 27.17%.

Analyst Ratings Changes

OZK has been the subject of several research analyst reports. Truist Financial lifted their price objective on Bank OZK from $43.00 to $46.00 and gave the stock a “hold” rating in a report on Tuesday, July 25th. Morgan Stanley reissued an “equal weight” rating and issued a $35.00 target price on shares of Bank OZK in a research report on Monday, July 24th. Stephens raised their target price on Bank OZK from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Monday, July 24th. Finally, StockNews.com started coverage on Bank OZK in a research report on Thursday, August 17th. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $40.50.

About Bank OZK

Bank OZK provides various retail and commercial banking services. The company 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. It also offers real estate, consumer and business purpose, indirect recreational vehicle and marine, commercial and industrial, government guaranteed, agricultural equipment, small business, lines of credit, homebuilder, and affordable housing loans; business aviation and subscription financing services; and mortgage and other lending products.