Massachusetts Financial Services Co. MA Invests $677,000 in Bank OZK (NASDAQ:OZK)

Massachusetts Financial Services Co. MA acquired a new position in Bank OZK (NASDAQ:OZKFree Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 18,268 shares of the company’s stock, valued at approximately $677,000.

A number of other large investors also recently bought and sold shares of the business. Newport Trust Company LLC raised its stake in Bank OZK by 0.8% in the third quarter. Newport Trust Company LLC now owns 1,210,102 shares of the company’s stock worth $44,858,000 after buying an additional 9,857 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in Bank OZK by 1.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 54,364 shares of the company’s stock worth $2,015,000 after buying an additional 607 shares in the last quarter. Great Lakes Advisors LLC raised its stake in Bank OZK by 5.9% in the third quarter. Great Lakes Advisors LLC now owns 513,005 shares of the company’s stock worth $19,017,000 after buying an additional 28,679 shares in the last quarter. Quantbot Technologies LP bought a new position in Bank OZK in the third quarter worth approximately $2,065,000. Finally, Fox Run Management L.L.C. raised its stake in Bank OZK by 54.1% in the third quarter. Fox Run Management L.L.C. now owns 12,970 shares of the company’s stock worth $481,000 after buying an additional 4,552 shares in the last quarter. Institutional investors own 84.84% of the company’s stock.

Bank OZK Price Performance

Shares of OZK opened at $43.15 on Tuesday. The firm has a market capitalization of $4.88 billion, a PE ratio of 7.35 and a beta of 1.29. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.03 and a quick ratio of 1.05. Bank OZK has a 1-year low of $30.72 and a 1-year high of $52.36. The company’s fifty day moving average price is $47.33 and its 200-day moving average price is $42.03.

Bank OZK (NASDAQ:OZKGet Free Report) last posted its quarterly earnings results on Friday, January 19th. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.46 by $0.04. Bank OZK had a net margin of 30.69% and a return on equity of 15.13%. The company had revenue of $407.58 million for the quarter, compared to analyst estimates of $396.54 million. During the same period in the prior year, the company earned $1.34 earnings per share. The firm’s revenue was up 13.2% on a year-over-year basis. On average, equities research analysts predict that Bank OZK will post 5.94 EPS for the current year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 23rd. Shareholders of record on Tuesday, January 16th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.52%. This is a positive change from Bank OZK’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, January 12th. Bank OZK’s dividend payout ratio is presently 25.89%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on OZK shares. StockNews.com raised Bank OZK from a “sell” rating to a “hold” rating in a research report on Saturday, February 3rd. Morgan Stanley upped their price target on Bank OZK from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, October 23rd. Truist Financial upped their price target on Bank OZK from $38.00 to $55.00 and gave the stock a “hold” rating in a research report on Friday, December 15th. UBS Group downgraded Bank OZK from a “buy” rating to a “neutral” rating in a research report on Monday, January 8th. Finally, Raymond James raised Bank OZK from a “market perform” rating to an “outperform” rating and set a $58.00 price target on the stock in a research report on Friday, January 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Bank OZK presently has an average rating of “Hold” and an average target price of $46.50.

View Our Latest Analysis on OZK

Bank OZK Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Bank OZK (NASDAQ:OZK)

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