Arrowstreet Capital Limited Partnership Purchases 253,001 Shares of Bank OZK $OZK

Arrowstreet Capital Limited Partnership lifted its holdings in Bank OZK (NASDAQ:OZK) by 57.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 694,956 shares of the company’s stock after buying an additional 253,001 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Bank OZK were worth $32,705,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in OZK. PNC Financial Services Group Inc. boosted its stake in shares of Bank OZK by 13.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,614 shares of the company’s stock worth $287,000 after acquiring an additional 782 shares during the last quarter. Truist Financial Corp lifted its position in Bank OZK by 7.1% during the second quarter. Truist Financial Corp now owns 16,494 shares of the company’s stock valued at $776,000 after purchasing an additional 1,088 shares in the last quarter. Raymond James Financial Inc. lifted its position in Bank OZK by 8.5% during the first quarter. Raymond James Financial Inc. now owns 343,066 shares of the company’s stock valued at $14,906,000 after purchasing an additional 26,946 shares in the last quarter. American Century Companies Inc. grew its holdings in Bank OZK by 9.4% during the second quarter. American Century Companies Inc. now owns 2,631,607 shares of the company’s stock valued at $123,843,000 after purchasing an additional 226,315 shares during the period. Finally, Campbell & CO Investment Adviser LLC increased its position in Bank OZK by 1,175.4% in the second quarter. Campbell & CO Investment Adviser LLC now owns 75,148 shares of the company’s stock worth $3,536,000 after buying an additional 69,256 shares in the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Bank OZK Price Performance

Shares of Bank OZK stock opened at $47.26 on Friday. The firm has a market cap of $5.29 billion, a PE ratio of 7.62 and a beta of 0.92. The stock has a 50 day moving average of $46.68 and a 200 day moving average of $48.38. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.13. Bank OZK has a 12 month low of $35.71 and a 12 month high of $53.66.

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

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Tuesday, October 14th were paid a dividend of $0.45 per share. 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. This represents a $1.80 dividend on an annualized basis and a yield of 3.8%. Bank OZK’s payout ratio is currently 29.03%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on OZK. Morgan Stanley lifted their price objective on Bank OZK from $55.00 to $63.00 and gave the company an “underperform” rating in a research report on Monday, September 29th. Cowen reiterated a “buy” rating on shares of Bank OZK in a research report on Tuesday, October 21st. Keefe, Bruyette & Woods reduced their price objective on shares of Bank OZK from $53.00 to $50.00 and set a “market perform” rating for the company in a research note on Monday, October 20th. Wall Street Zen downgraded shares of Bank OZK from a “hold” rating to a “sell” rating in a research report on Saturday, November 1st. Finally, UBS Group dropped their target price on shares of Bank OZK from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Tuesday, October 28th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $58.75.

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.