16,897 Shares in Bank OZK $OZK Acquired by Peninsula Asset Management Inc.

Peninsula Asset Management Inc. bought a new position in shares of Bank OZK (NASDAQ:OZK) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 16,897 shares of the company’s stock, valued at approximately $775,000.

Other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in shares of Bank OZK during the fourth quarter worth $25,000. BOKF NA acquired a new position in Bank OZK in the 3rd quarter worth $27,000. Bayforest Capital Ltd boosted its stake in Bank OZK by 100.5% in the 4th quarter. Bayforest Capital Ltd now owns 766 shares of the company’s stock worth $35,000 after purchasing an additional 384 shares during the period. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Bank OZK in the 4th quarter valued at about $36,000. Finally, Transamerica Financial Advisors LLC lifted its holdings in shares of Bank OZK by 111.2% in the fourth quarter. Transamerica Financial Advisors LLC now owns 830 shares of the company’s stock valued at $38,000 after purchasing an additional 437 shares in the last quarter. Institutional investors own 86.18% of the company’s stock.

Bank OZK Stock Up 1.0%

OZK stock opened at $51.30 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average price of $49.47 and a two-hundred day moving average price of $48.07. The company has a market cap of $5.74 billion, a price-to-earnings ratio of 8.36 and a beta of 0.89. Bank OZK has a twelve month low of $42.37 and a twelve month high of $53.66.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.02). Bank OZK had a return on equity of 12.32% and a net margin of 25.27%.The company had revenue of $424.32 million for the quarter, compared to the consensus estimate of $422.62 million. During the same quarter in the prior year, the company earned $1.47 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts anticipate that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Monday, July 13th will be paid a $0.48 dividend. This is an increase from Bank OZK’s previous quarterly dividend of $0.47. This represents a $1.92 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, July 13th. Bank OZK’s dividend payout ratio is 31.27%.

Bank OZK declared that its board has authorized a stock repurchase program on Monday, June 29th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have recently weighed in on OZK shares. Wells Fargo & Company upped their price objective on Bank OZK from $50.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday, July 6th. Morgan Stanley lifted their target price on Bank OZK from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. Weiss Ratings upgraded Bank OZK from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. UBS Group initiated coverage on Bank OZK in a research report on Tuesday, April 7th. They set a “neutral” rating and a $48.00 price target for the company. Finally, TD Cowen cut shares of Bank OZK from a “buy” rating to a “hold” rating and set a $53.00 price target for the company. in a research note on Monday, July 6th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Bank OZK currently has an average rating of “Hold” and a consensus target price of $56.25.

About Bank OZK

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.