State of Michigan Retirement System Grows Stock Position in Bank OZK (NASDAQ:OZK)

State of Michigan Retirement System increased its holdings in shares of Bank OZK (NASDAQ:OZKFree Report) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,812 shares of the company’s stock after buying an additional 600 shares during the quarter. State of Michigan Retirement System’s holdings in Bank OZK were worth $1,173,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Bank OZK by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 12,028,779 shares of the company’s stock worth $599,394,000 after buying an additional 502,005 shares during the period. Wellington Management Group LLP increased its stake in Bank OZK by 18.8% during the fourth quarter. Wellington Management Group LLP now owns 1,897,696 shares of the company’s stock worth $94,562,000 after acquiring an additional 300,025 shares during the last quarter. First Trust Advisors LP increased its stake in Bank OZK by 4.2% during the fourth quarter. First Trust Advisors LP now owns 1,279,876 shares of the company’s stock worth $63,776,000 after acquiring an additional 51,379 shares during the last quarter. Norges Bank acquired a new stake in Bank OZK during the fourth quarter worth about $56,293,000. Finally, American Century Companies Inc. increased its stake in Bank OZK by 33.2% during the third quarter. American Century Companies Inc. now owns 716,297 shares of the company’s stock worth $26,553,000 after acquiring an additional 178,620 shares during the last quarter. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

Bank OZK Price Performance

Shares of NASDAQ OZK opened at $39.84 on Friday. Bank OZK has a fifty-two week low of $34.76 and a fifty-two week high of $52.36. The business has a 50 day moving average price of $42.89 and a two-hundred day moving average price of $44.39. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.14. The firm has a market cap of $4.52 billion, a PE ratio of 6.67 and a beta of 1.20.

Bank OZK (NASDAQ:OZKGet Free Report) last issued its quarterly earnings data on Thursday, April 18th. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.07. Bank OZK had a return on equity of 14.84% and a net margin of 28.54%. The firm had revenue of $406.02 million during the quarter, compared to analyst estimates of $396.81 million. During the same quarter last year, the firm earned $1.41 EPS. Sell-side analysts expect that Bank OZK will post 6.06 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, July 12th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Friday, July 12th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.39. Bank OZK’s dividend payout ratio (DPR) is 26.13%.

Analyst Upgrades and Downgrades

Several brokerages have commented on OZK. Truist Financial dropped their price target on Bank OZK from $48.00 to $47.00 and set a “hold” rating for the company in a research note on Monday, April 22nd. Citigroup lowered Bank OZK from a “buy” rating to a “sell” rating and dropped their price target for the stock from $57.00 to $37.00 in a research note on Wednesday, May 29th. Stephens reiterated an “equal weight” rating and issued a $50.00 target price on shares of Bank OZK in a research note on Thursday, May 30th. Wells Fargo & Company lowered their target price on Bank OZK from $39.00 to $35.00 and set an “underweight” rating for the company in a research note on Thursday, June 6th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $48.00 target price on shares of Bank OZK in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Bank OZK has an average rating of “Hold” and an average target price of $46.00.

View Our Latest Stock Analysis on Bank OZK

About Bank OZK

(Free Report)

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.

Further Reading

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

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