Squarepoint Ops LLC Has $5.75 Million Position in Bank OZK $OZK

Squarepoint Ops LLC boosted its holdings in Bank OZK (NASDAQ:OZK) by 18.4% in the second quarter, Holdings Channel reports. The institutional investor owned 110,354 shares of the company’s stock after buying an additional 17,135 shares during the period. Squarepoint Ops LLC’s holdings in Bank OZK were worth $5,748,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in OZK. Bank of America Corp DE lifted its stake in shares of Bank OZK by 33.0% in the first quarter. Bank of America Corp DE now owns 774,253 shares of the company’s stock worth $35,530,000 after acquiring an additional 192,237 shares during the period. Fifth Third Bancorp increased its position in Bank OZK by 2,971.0% during the 1st quarter. Fifth Third Bancorp now owns 33,627 shares of the company’s stock valued at $1,543,000 after purchasing an additional 32,532 shares during the period. California Public Employees Retirement System increased its position in Bank OZK by 11.8% during the 1st quarter. California Public Employees Retirement System now owns 231,654 shares of the company’s stock valued at $10,631,000 after purchasing an additional 24,485 shares during the period. GSA Capital Partners LLP raised its holdings in Bank OZK by 50.4% during the 4th quarter. GSA Capital Partners LLP now owns 62,139 shares of the company’s stock worth $2,860,000 after purchasing an additional 20,821 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in Bank OZK during the 1st quarter worth approximately $1,381,000. 86.18% of the stock is currently owned by institutional investors and hedge funds.

Bank OZK Price Performance

OZK stock opened at $49.09 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.97 and a quick ratio of 0.97. The company’s 50-day moving average is $50.53 and its 200-day moving average is $48.78. The stock has a market capitalization of $5.49 billion, a PE ratio of 8.11 and a beta of 0.88. Bank OZK has a 1 year low of $42.37 and a 1 year high of $53.41.

Bank OZK (NASDAQ:OZK) last issued its earnings results on Tuesday, July 21st. The company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. Bank OZK had a return on equity of 11.87% and a net margin of 24.95%.The business had revenue of $430.02 million during the quarter, compared to analyst estimates of $436.42 million. During the same period in the previous year, the company posted $1.47 EPS. The firm’s revenue was up .5% compared to the same quarter last year. Equities research analysts expect that Bank OZK will post 5.83 EPS for the current fiscal year.

Bank OZK declared that its Board of Directors has initiated a share repurchase program on Monday, June 29th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Monday, July 13th were issued a dividend of $0.48 per share. This is a positive change from Bank OZK’s previous quarterly dividend of $0.47. This represents a $1.92 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Monday, July 13th. Bank OZK’s dividend payout ratio is presently 31.74%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on OZK. Citigroup restated a “sell” rating on shares of Bank OZK in a research report on Monday, August 17th. Morgan Stanley cut shares of Bank OZK from an “equal weight” rating to an “underweight” rating and set a $56.00 price target on the stock. in a research report on Tuesday. Wall Street Zen upgraded Bank OZK from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Raymond James Financial started coverage on Bank OZK in a research report on Tuesday, September 1st. They issued a “market perform” rating for the company. Finally, UBS Group raised their target price on Bank OZK from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $56.88.

Bank OZK Profile

Bank OZK is a regional financial institution headquartered in Little Rock, Arkansas. The company provides banking services to individuals, businesses and institutions through a network of banking offices concentrated in the Southeastern United States and select markets, including New York and California.

Its products and services include checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, commercial and industrial financing, treasury management and other business banking solutions.