Livforsakringsbolaget Skandia Omsesidigt Makes New Investment in Bank OZK $OZK

Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Bank OZK (NASDAQ:OZK) during the 2nd quarter, HoldingsChannel reports. The firm purchased 63,200 shares of the company’s stock, valued at approximately $3,291,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Public Employees Retirement System of Ohio bought a new stake in Bank OZK in the second quarter worth $1,640,000. Ranger Investment Management L.P. acquired a new stake in shares of Bank OZK in the second quarter worth about $13,240,000. Great Lakes Advisors LLC bought a new stake in shares of Bank OZK during the 2nd quarter worth about $3,308,000. Foster & Motley Inc. bought a new stake in shares of Bank OZK during the 2nd quarter worth about $1,055,000. Finally, Citizens Financial Group Inc. RI acquired a new position in shares of Bank OZK during the 2nd quarter valued at about $229,000. Institutional investors and hedge funds own 86.18% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on OZK. Piper Sandler reaffirmed an “overweight” rating and set a $61.00 target price on shares of Bank OZK in a research report on Wednesday, July 22nd. Citigroup reaffirmed a “sell” rating on shares of Bank OZK in a research report on Monday, August 17th. Morgan Stanley raised their target price on Bank OZK from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. TD Cowen lowered their price objective on Bank OZK from $53.00 to $52.00 and set a “hold” rating on the stock in a research note on Friday, July 24th. Finally, Wall Street Zen raised shares of Bank OZK from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $56.88.

Bank OZK Trading Down 0.1%

OZK stock opened at $49.40 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.08. Bank OZK has a twelve month low of $42.37 and a twelve month high of $53.66. The company has a market cap of $5.53 billion, a P/E ratio of 8.17 and a beta of 0.89. The business has a fifty day moving average of $50.89 and a 200-day moving average of $48.80.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.01. Bank OZK had a return on equity of 11.87% and a net margin of 24.95%.The firm had revenue of $430.02 million during the quarter, compared to analysts’ expectations of $436.42 million. During the same period in the previous year, the business posted $1.47 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. As a group, equities research analysts expect that Bank OZK will post 5.85 EPS for the current year.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Monday, July 13th were paid a $0.48 dividend. The ex-dividend date of this dividend was Monday, July 13th. This is a boost from Bank OZK’s previous quarterly dividend of $0.47. This represents a $1.92 dividend on an annualized basis and a yield of 3.9%. Bank OZK’s payout ratio is 31.74%.

Bank OZK announced that its Board of Directors has approved a share repurchase program on Monday, June 29th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Bank OZK Company Profile

Bank OZK, formerly known as Bank of the Ozarks, is a regional commercial bank headquartered in Little Rock, Arkansas. Established in 1903, the bank offers a full suite of banking products and services to both individual and corporate clients. Through a combination of organic growth and targeted acquisitions, Bank OZK has built a diversified lending portfolio and a strong deposit franchise.

The bank’s core operations focus on commercial real estate lending, including acquisition, development and construction financing.