Mirae Asset Global Investments Co. Ltd. Buys 26,741 Shares of Bank OZK (NASDAQ:OZK)

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Bank OZK (NASDAQ:OZK) by 229.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,382 shares of the company’s stock after acquiring an additional 26,741 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Bank OZK were worth $1,913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. State Street Corp raised its position in shares of Bank OZK by 10.7% during the first quarter. State Street Corp now owns 12,791,703 shares of the company’s stock worth $437,476,000 after acquiring an additional 1,235,144 shares during the last quarter. BlackRock Inc. raised its position in shares of Bank OZK by 0.5% during the first quarter. BlackRock Inc. now owns 10,557,856 shares of the company’s stock worth $361,079,000 after acquiring an additional 55,553 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Bank OZK by 1,508.4% during the second quarter. Goldman Sachs Group Inc. now owns 4,313,676 shares of the company’s stock worth $173,237,000 after acquiring an additional 4,045,472 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Bank OZK by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,994,821 shares of the company’s stock worth $111,018,000 after acquiring an additional 35,215 shares during the last quarter. Finally, Van Berkom & Associates Inc. grew its stake in Bank OZK by 18.1% during the third quarter. Van Berkom & Associates Inc. now owns 2,031,518 shares of the company’s stock worth $75,308,000 after purchasing an additional 311,293 shares during the period. 86.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OZK has been the subject of several recent analyst reports. Truist Financial decreased their target price on Bank OZK from $52.00 to $48.00 and set a “hold” rating for the company in a research note on Monday, April 1st. UBS Group cut Bank OZK from a “buy” rating to a “neutral” rating in a research note on Monday, January 8th. Citigroup reduced their price objective on Bank OZK from $62.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. Raymond James raised Bank OZK from a “market perform” rating to an “outperform” rating and set a $58.00 price objective for the company in a research note on Friday, January 5th. Finally, StockNews.com cut Bank OZK from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Bank OZK currently has an average rating of “Hold” and an average target price of $48.14.

Bank OZK Stock Up 2.6 %

Shares of NASDAQ:OZK opened at $44.94 on Friday. The stock has a market cap of $5.08 billion, a price-to-earnings ratio of 7.53 and a beta of 1.27. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.27. Bank OZK has a 12-month low of $30.72 and a 12-month high of $52.36. The business’s 50 day moving average is $43.37 and its 200 day moving average is $43.15.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings results on Thursday, April 18th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.07. The business had revenue of $406.02 million for the quarter, compared to analyst estimates of $396.81 million. Bank OZK had a return on equity of 15.10% and a net margin of 28.54%. During the same period last year, the company posted $1.41 earnings per share. On average, sell-side analysts forecast that Bank OZK will post 5.87 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 19th. Investors of record on Friday, April 12th were issued a dividend of $0.39 per share. This is a positive change from Bank OZK’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date was Thursday, April 11th. Bank OZK’s dividend payout ratio (DPR) is 26.13%.

About Bank OZK

Bank OZK provides various retail and commercial banking services for individuals and businesses in the United States. The company offers deposit services, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time and reciprocal deposits.