Mirae Asset Global Investments Co. Ltd. Has $1.91 Million Stock Position in Bank OZK (NASDAQ:OZK)

Mirae Asset Global Investments Co. Ltd. lifted its stake in Bank OZK (NASDAQ:OZK) by 229.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,382 shares of the company’s stock after acquiring an additional 26,741 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Bank OZK were worth $1,913,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of OZK. Cambridge Investment Research Advisors Inc. grew its stake in shares of Bank OZK by 74.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,606 shares of the company’s stock worth $538,000 after acquiring an additional 5,383 shares during the last quarter. Bank of Montreal Can lifted 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 purchasing an additional 1,308 shares during the period. MetLife Investment Management LLC lifted its position in 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 purchasing an additional 19,621 shares during the period. Rhumbline Advisers lifted its position in Bank OZK by 0.4% in the first quarter. Rhumbline Advisers now owns 328,506 shares of the company’s stock worth $14,027,000 after purchasing an additional 1,212 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Bank OZK by 10.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 44,341 shares of the company’s stock worth $1,893,000 after purchasing an additional 4,262 shares during the period. Institutional investors and hedge funds own 86.18% of the company’s stock.

Bank OZK Stock Performance

Bank OZK stock opened at $44.94 on Friday. The stock has a 50-day simple moving average of $43.37 and a 200 day simple moving average of $43.15. 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 stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 7.53 and a beta of 1.27.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings results on Thursday, April 18th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.07. Bank OZK had a return on equity of 15.10% and a net margin of 28.54%. The business had revenue of $406.02 million during the quarter, compared to analysts’ expectations of $396.81 million. During the same period in the previous year, the business posted $1.41 earnings per share. On average, research analysts anticipate 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 $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.47%. This is a boost from Bank OZK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, April 11th. Bank OZK’s payout ratio is currently 26.13%.

Analysts Set New Price Targets

OZK has been the subject of several research reports. Truist Financial reduced their target price on Bank OZK from $52.00 to $48.00 and set a “hold” rating for the company in a research report on Monday, April 1st. 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 report on Friday, January 5th. Citigroup cut their price objective on Bank OZK from $62.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. UBS Group cut Bank OZK from a “buy” rating to a “neutral” rating in a report on Monday, January 8th. Finally, Wells Fargo & Company cut their price objective on Bank OZK from $41.00 to $39.00 and set an “underweight” rating for the company in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $48.14.

Bank OZK 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.