Lazard Asset Management LLC increased its position in shares of Bank OZK (NASDAQ:OZK – Get Rating) by 4,240.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,997 shares of the company’s stock after acquiring an additional 25,398 shares during the period. Lazard Asset Management LLC’s holdings in Bank OZK were worth $974,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Versor Investments LP raised its holdings in shares of Bank OZK by 45.6% during the first quarter. Versor Investments LP now owns 6,557 shares of the company’s stock worth $280,000 after acquiring an additional 2,055 shares in the last quarter. Sabal Trust CO purchased a new stake in shares of Bank OZK during the second quarter worth $248,000. Bank of Nova Scotia raised its holdings in shares of Bank OZK by 3.8% during the first quarter. Bank of Nova Scotia now owns 96,341 shares of the company’s stock worth $4,114,000 after acquiring an additional 3,534 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Bank OZK during the first quarter worth $625,000. Finally, TCW Group Inc. raised its holdings in shares of Bank OZK by 24.6% during the second quarter. TCW Group Inc. now owns 329,055 shares of the company’s stock worth $12,349,000 after acquiring an additional 65,004 shares in the last quarter. 78.68% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on OZK shares. Piper Sandler cut their price objective on Bank OZK to $54.00 in a report on Friday, July 22nd. Truist Financial cut their target price on Bank OZK from $45.00 to $43.00 and set a “hold” rating on the stock in a report on Tuesday, October 25th. StockNews.com initiated coverage on Bank OZK in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Stephens raised their target price on Bank OZK from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Monday, October 24th. Finally, UBS Group raised their target price on Bank OZK to $48.00 in a report on Wednesday. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Bank OZK currently has an average rating of “Hold” and a consensus target price of $48.50.
Bank OZK Trading Down 1.1 %
Bank OZK (NASDAQ:OZK – Get Rating) last posted its quarterly earnings data on Thursday, October 20th. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.10). The business had revenue of $323.78 million during the quarter, compared to the consensus estimate of $305.09 million. Bank OZK had a return on equity of 12.72% and a net margin of 43.58%. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.00 earnings per share. Equities research analysts forecast that Bank OZK will post 4.52 earnings per share for the current year.
Bank OZK Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 21st. Stockholders of record on Friday, October 14th were paid a $0.33 dividend. The ex-dividend date of this dividend was Thursday, October 13th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.86%. Bank OZK’s payout ratio is presently 30.21%.
About Bank OZK
Bank OZK provides various retail and commercial banking services. It 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. The company also offers real estate, consumer and business purpose, indirect recreational vehicle and marine, commercial and industrial, government guaranteed, agricultural, small business, homebuilder, and affordable housing loans; business aviation and subscription financing services; and mortgage and other lending products.
- Get a free copy of the StockNews.com research report on Bank OZK (OZK)
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