Meeder Asset Management Inc. grew its stake in shares of Bank OZK (NASDAQ:OZK) by 707.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 2,448 shares of the company’s stock after acquiring an additional 2,145 shares during the quarter. Meeder Asset Management Inc.’s holdings in Bank OZK were worth $99,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in OZK. Renaissance Technologies LLC increased its holdings in Bank OZK by 153.1% in the 4th quarter. Renaissance Technologies LLC now owns 345,158 shares of the company’s stock worth $10,793,000 after purchasing an additional 208,761 shares in the last quarter. Sei Investments Co. increased its holdings in Bank OZK by 24.1% in the 3rd quarter. Sei Investments Co. now owns 125,607 shares of the company’s stock worth $2,688,000 after purchasing an additional 24,369 shares in the last quarter. Raymond James Trust N.A. acquired a new position in Bank OZK in the 4th quarter worth about $244,000. Kiwi Wealth Investments Limited Partnership acquired a new position in Bank OZK in the 4th quarter worth about $982,000. Finally, Simmons Bank increased its stake in shares of Bank OZK by 9.3% in the fourth quarter. Simmons Bank now owns 12,804 shares of the company’s stock valued at $400,000 after buying an additional 1,088 shares during the period. Hedge funds and other institutional investors own 85.37% of the company’s stock.
Shares of NASDAQ:OZK opened at $44.00 on Friday. The business’s 50 day simple moving average is $40.97 and its two-hundred day simple moving average is $36.04. The firm has a market cap of $5.69 billion, a P/E ratio of 20.95 and a beta of 1.90. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.98 and a current ratio of 0.98. Bank OZK has a 52-week low of $19.46 and a 52-week high of $45.83.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 19th. Investors of record on Monday, April 12th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.55%. This is an increase from Bank OZK’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, April 9th. Bank OZK’s dividend payout ratio (DPR) is presently 33.94%.
Several brokerages have recently weighed in on OZK. Citigroup increased their price target on Bank OZK from $37.00 to $40.00 in a research note on Wednesday, April 14th. Truist upped their target price on Bank OZK from $37.00 to $45.00 in a research report on Monday, March 8th. Morgan Stanley upped their target price on Bank OZK from $47.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 24th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their target price on Bank OZK from $37.00 to $40.00 in a research report on Wednesday, April 14th. Finally, Raymond James upped their target price on Bank OZK from $31.00 to $41.00 and gave the company an “outperform” rating in a research report on Monday, January 25th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Bank OZK has a consensus rating of “Hold” and a consensus target price of $38.50.
Bank OZK Profile
Bank OZK provides various retail and commercial banking services. The company accepts various deposit products, including non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time deposits. It also offers real estate, consumer and business purpose, indirect recreational vehicle and marine, commercial and industrial, government guaranteed, agricultural, small business, homebuilder, and affordable housing loans; business aviation and subscription financing services; and mortgage and other lending products.
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