Mirae Asset Global Investments Co. Ltd. Acquires 9,604 Shares of Bank OZK (NASDAQ:OZK)

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Bank OZK (NASDAQ:OZK) by 12.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,979 shares of the company’s stock after acquiring an additional 9,604 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Bank OZK were worth $3,760,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of OZK. Norges Bank bought a new stake in Bank OZK during the fourth quarter worth about $53,114,000. Wasatch Advisors LP boosted its stake in Bank OZK by 19.3% during the fourth quarter. Wasatch Advisors LP now owns 7,102,657 shares of the company’s stock worth $316,281,000 after acquiring an additional 1,149,880 shares in the last quarter. First Trust Advisors LP boosted its stake in Bank OZK by 30.4% during the fourth quarter. First Trust Advisors LP now owns 2,945,480 shares of the company’s stock worth $131,162,000 after acquiring an additional 686,775 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Bank OZK during the fourth quarter worth about $14,077,000. Finally, AQR Capital Management LLC boosted its stake in Bank OZK by 12.6% during the fourth quarter. AQR Capital Management LLC now owns 2,811,354 shares of the company’s stock worth $125,190,000 after acquiring an additional 314,488 shares in the last quarter. Institutional investors own 86.18% of the company’s stock.

Bank OZK Stock Up 4.0%

OZK opened at $48.96 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average price of $45.09 and a 200-day moving average price of $45.38. Bank OZK has a twelve month low of $35.71 and a twelve month high of $53.64. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 8.03 and a beta of 0.85.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings data on Wednesday, April 16th. The company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.05. Bank OZK had a net margin of 25.66% and a return on equity of 13.46%. The firm had revenue of $409.23 million during the quarter, compared to analysts’ expectations of $403.05 million. During the same period in the previous year, the company earned $1.51 earnings per share. Equities research analysts forecast that Bank OZK will post 6.02 earnings per share for the current year.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Friday, July 11th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.59%. This is a boost from Bank OZK’s previous quarterly dividend of $0.43. Bank OZK’s payout ratio is presently 28.20%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Stephens dropped their target price on shares of Bank OZK from $59.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Keefe, Bruyette & Woods dropped their target price on shares of Bank OZK from $50.00 to $48.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley dropped their target price on shares of Bank OZK from $58.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. Finally, Wells Fargo & Company dropped their target price on shares of Bank OZK from $48.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $50.86.

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.