Intech Investment Management LLC Purchases 15,065 Shares of Bank OZK (NASDAQ:OZK)

Intech Investment Management LLC lifted its stake in Bank OZK (NASDAQ:OZK) by 179.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,451 shares of the company’s stock after purchasing an additional 15,065 shares during the quarter. Intech Investment Management LLC’s holdings in Bank OZK were worth $1,044,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of OZK. Natixis Advisors LLC raised its position in shares of Bank OZK by 20.7% in the 3rd quarter. Natixis Advisors LLC now owns 19,228 shares of the company’s stock valued at $827,000 after purchasing an additional 3,303 shares during the last quarter. Caprock Group LLC raised its position in shares of Bank OZK by 10.5% in the 3rd quarter. Caprock Group LLC now owns 6,805 shares of the company’s stock valued at $293,000 after purchasing an additional 645 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Bank OZK by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,941,431 shares of the company’s stock valued at $169,442,000 after purchasing an additional 112,648 shares during the last quarter. Raymond James Trust N.A. raised its position in shares of Bank OZK by 6.0% in the 3rd quarter. Raymond James Trust N.A. now owns 7,184 shares of the company’s stock valued at $309,000 after purchasing an additional 407 shares during the last quarter. Finally, Citigroup Inc. raised its position in shares of Bank OZK by 5.5% in the 3rd quarter. Citigroup Inc. now owns 290,787 shares of the company’s stock valued at $12,501,000 after purchasing an additional 15,265 shares during the last quarter. 86.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. UBS Group assumed coverage on shares of Bank OZK in a research report on Tuesday, December 17th. They set a “neutral” rating and a $51.00 price target for the company. Morgan Stanley reduced their price target on shares of Bank OZK from $58.00 to $54.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Wells Fargo & Company raised shares of Bank OZK from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $40.00 to $48.00 in a research report on Tuesday, January 21st. Finally, Stephens raised their price target on shares of Bank OZK from $53.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Bank OZK presently has an average rating of “Hold” and an average target price of $50.38.

Bank OZK Price Performance

Shares of NASDAQ OZK opened at $44.31 on Friday. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 7.22 and a beta of 1.23. Bank OZK has a 12 month low of $37.43 and a 12 month high of $53.64. The firm’s 50 day simple moving average is $48.23 and its 200-day simple moving average is $45.94. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.03 and a quick ratio of 1.02.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings data on Thursday, January 16th. The company reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.12. Bank OZK had a net margin of 25.83% and a return on equity of 13.90%. The business had revenue of $412.34 million for the quarter, compared to analysts’ expectations of $407.19 million. During the same quarter last year, the company earned $1.50 EPS. The business’s revenue was up 1.2% on a year-over-year basis. Analysts expect that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Tuesday, January 14th were paid a $0.42 dividend. The ex-dividend date of this dividend was Tuesday, January 14th. This represents a $1.68 dividend on an annualized basis and a yield of 3.79%. This is a boost from Bank OZK’s previous quarterly dividend of $0.41. Bank OZK’s dividend payout ratio (DPR) is currently 27.36%.

Bank OZK Company 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.