Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in Bank OZK (NASDAQ:OZK – Get Rating) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,347 shares of the company’s stock, valued at approximately $407,000.
Other large investors have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its position in shares of Bank OZK by 74.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 12,606 shares of the company’s stock valued at $538,000 after acquiring an additional 5,383 shares during the period. Bank of Montreal Can increased its position in Bank OZK by 2.1% in the first quarter. Bank of Montreal Can now owns 62,797 shares of the company’s stock worth $2,738,000 after buying an additional 1,308 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Bank OZK by 33.5% in the first quarter. MetLife Investment Management LLC now owns 78,203 shares of the company’s stock worth $3,339,000 after buying an additional 19,621 shares during the period. Rhumbline Advisers grew its stake in shares of Bank OZK by 0.4% during the 1st quarter. Rhumbline Advisers now owns 328,506 shares of the company’s stock valued at $14,027,000 after acquiring an additional 1,212 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Bank OZK by 10.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 44,341 shares of the company’s stock worth $1,893,000 after acquiring an additional 4,262 shares in the last quarter. 76.17% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have weighed in on OZK shares. Keefe, Bruyette & Woods dropped their price target on shares of Bank OZK from $40.00 to $35.00 and set a “market perform” rating for the company in a research report on Thursday, April 6th. UBS Group upped their target price on shares of Bank OZK from $41.00 to $42.00 in a report on Monday, April 24th. StockNews.com cut Bank OZK from a “hold” rating to a “sell” rating in a report on Wednesday, April 12th. Truist Financial dropped their price target on Bank OZK from $40.00 to $38.00 in a research note on Monday, April 24th. Finally, Morgan Stanley reduced their price objective on shares of Bank OZK from $51.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $40.57.
Bank OZK Trading Down 2.2 %
Bank OZK (NASDAQ:OZK – Get Rating) last announced its quarterly earnings results on Friday, April 21st. The company reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.02). Bank OZK had a net margin of 38.48% and a return on equity of 13.95%. The business had revenue of $375.30 million during the quarter, compared to the consensus estimate of $361.56 million. During the same period in the previous year, the business posted $1.02 EPS. The firm’s revenue was up 33.2% on a year-over-year basis. Sell-side analysts expect that Bank OZK will post 5.78 earnings per share for the current fiscal year.
Bank OZK Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, April 21st. Investors of record on Friday, April 14th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.29%. The ex-dividend date was Thursday, April 13th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.34. Bank OZK’s dividend payout ratio is presently 28.40%.
About Bank OZK
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.
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