Arrowstreet Capital Limited Partnership Raises Stock Holdings in Bank OZK $OZK

Arrowstreet Capital Limited Partnership raised its position in shares of Bank OZK (NASDAQ:OZK) by 57.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 694,956 shares of the company’s stock after buying an additional 253,001 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.61% of Bank OZK worth $32,705,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OZK. Hantz Financial Services Inc. lifted its position in Bank OZK by 58.2% during the 2nd quarter. Hantz Financial Services Inc. now owns 590 shares of the company’s stock valued at $28,000 after acquiring an additional 217 shares during the period. Summit Securities Group LLC bought a new position in shares of Bank OZK during the first quarter valued at approximately $32,000. Atlantic Union Bankshares Corp bought a new position in shares of Bank OZK during the second quarter valued at approximately $44,000. Brooklyn Investment Group lifted its holdings in shares of Bank OZK by 1,114.3% during the first quarter. Brooklyn Investment Group now owns 1,105 shares of the company’s stock valued at $48,000 after purchasing an additional 1,014 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Bank OZK in the 2nd quarter worth approximately $52,000. 86.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OZK has been the topic of several recent research reports. Wells Fargo & Company upped their price target on Bank OZK from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Monday, September 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of Bank OZK in a report on Thursday, October 30th. National Bankshares set a $67.00 target price on Bank OZK in a research note on Wednesday, September 24th. Keefe, Bruyette & Woods reduced their price target on Bank OZK from $53.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, October 20th. Finally, Morgan Stanley lifted their price target on Bank OZK from $55.00 to $63.00 and gave the stock an “underperform” rating in a research report on Monday, September 29th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $58.75.

Bank OZK Price Performance

OZK opened at $47.26 on Friday. The company’s 50-day simple moving average is $46.68 and its two-hundred day simple moving average is $48.38. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $5.29 billion, a P/E ratio of 7.62 and a beta of 0.92. Bank OZK has a 52-week low of $35.71 and a 52-week high of $53.66.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings data on Thursday, October 16th. The company reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.07). The company had revenue of $449.94 million for the quarter, compared to analysts’ expectations of $447.93 million. Bank OZK had a net margin of 25.81% and a return on equity of 13.00%. During the same period in the previous year, the firm earned $1.55 earnings per share. As a group, analysts predict that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Tuesday, October 14th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, October 14th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.44. Bank OZK’s payout ratio is currently 29.03%.

Bank OZK Company Profile

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.