Illinois Municipal Retirement Fund Has $1.30 Million Stock Position in Bank OZK (NASDAQ:OZK)

Illinois Municipal Retirement Fund lifted its stake in shares of Bank OZK (NASDAQ:OZK - Free Report) by 62.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,181 shares of the company's stock after purchasing an additional 11,209 shares during the period. Illinois Municipal Retirement Fund's holdings in Bank OZK were worth $1,299,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Wellington Management Group LLP lifted its position in shares of Bank OZK by 32.7% in the 3rd quarter. Wellington Management Group LLP now owns 4,223,452 shares of the company's stock worth $181,566,000 after buying an additional 1,041,198 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Bank OZK by 124.6% in the third quarter. Captrust Financial Advisors now owns 1,698,856 shares of the company's stock worth $73,034,000 after acquiring an additional 942,309 shares during the last quarter. Senvest Management LLC acquired a new position in Bank OZK in the third quarter valued at approximately $22,306,000. State Street Corp grew its holdings in shares of Bank OZK by 7.3% during the third quarter. State Street Corp now owns 7,106,907 shares of the company's stock valued at $305,526,000 after purchasing an additional 485,172 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Bank OZK by 34.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,321,436 shares of the company's stock worth $56,809,000 after purchasing an additional 341,078 shares during the last quarter. Institutional investors own 86.18% of the company's stock.

Bank OZK Price Performance

OZK traded down $0.30 during trading on Wednesday, reaching $45.39. The stock had a trading volume of 1,069,741 shares, compared to its average volume of 1,319,811. The stock has a 50 day moving average of $48.13 and a two-hundred day moving average of $45.81. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of 7.39 and a beta of 1.23. Bank OZK has a 1-year low of $37.43 and a 1-year high of $53.64.

Bank OZK (NASDAQ:OZK - Get Free Report) last announced its quarterly earnings data on Thursday, January 16th. The company reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.12. The business had revenue of $412.34 million during the quarter, compared to analyst estimates of $407.19 million. Bank OZK had a return on equity of 13.90% and a net margin of 25.83%. The company's revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.50 earnings per share. As a group, equities analysts anticipate that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 14th were paid a $0.42 dividend. The ex-dividend date was Tuesday, January 14th. This represents a $1.68 annualized dividend and a dividend yield of 3.70%. This is a boost from Bank OZK's previous quarterly dividend of $0.41. Bank OZK's payout ratio is currently 27.36%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on OZK shares. Wells Fargo & Company raised shares of Bank OZK from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $40.00 to $48.00 in a report on Tuesday, January 21st. Stephens upped their target price 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. Finally, UBS Group initiated coverage on Bank OZK in a report on Tuesday, December 17th. They set a "neutral" rating and a $51.00 price target on the stock. One 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 MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $50.00.

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.