Mirae Asset Global Investments Co. Ltd. Boosts Stock Holdings in Bank OZK (NASDAQ:OZK)

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Bank OZK (NASDAQ:OZK - Free Report) by 18.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 76,375 shares of the company's stock after purchasing an additional 12,048 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.07% of Bank OZK worth $3,404,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. KG&L Capital Management LLC raised its position in shares of Bank OZK by 3.5% in the 4th quarter. KG&L Capital Management LLC now owns 24,523 shares of the company's stock worth $1,090,000 after acquiring an additional 818 shares in the last quarter. New Wave Wealth Advisors LLC bought a new position in shares of Bank OZK in the 4th quarter worth about $93,000. R Squared Ltd bought a new position in shares of Bank OZK in the 4th quarter worth about $149,000. Pacer Advisors Inc. raised its position in shares of Bank OZK by 2.1% in the 4th quarter. Pacer Advisors Inc. now owns 15,733 shares of the company's stock worth $701,000 after acquiring an additional 325 shares in the last quarter. Finally, KBC Group NV raised its position in shares of Bank OZK by 60.8% in the 4th quarter. KBC Group NV now owns 4,727 shares of the company's stock worth $210,000 after acquiring an additional 1,788 shares in the last quarter. 86.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Truist Financial decreased their target price on Bank OZK from $48.00 to $46.00 and set a "hold" rating for the company in a research report on Monday, October 21st. Wells Fargo & Company raised Bank OZK from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $40.00 to $48.00 in a research report on Tuesday, January 21st. UBS Group assumed coverage on Bank OZK in a research report on Tuesday, December 17th. They issued a "neutral" rating and a $51.00 target price for the company. Stephens boosted their target price on Bank OZK from $53.00 to $57.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 21st. Finally, Piper Sandler boosted their target price on Bank OZK from $58.00 to $63.00 and gave the company an "overweight" rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Bank OZK has an average rating of "Hold" and an average price target of $50.00.

Bank OZK Stock Down 1.1 %

OZK stock traded down $0.59 during mid-day trading on Wednesday, reaching $52.51. 1,575,960 shares of the company traded hands, compared to its average volume of 1,455,641. Bank OZK has a fifty-two week low of $37.43 and a fifty-two week high of $53.64. The firm's 50 day moving average price is $47.29 and its 200 day moving average price is $45.14. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 8.55 and a beta of 1.20. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.16.

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

Bank OZK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 14th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend was Tuesday, January 14th. This is an increase from Bank OZK's previous quarterly dividend of $0.41. Bank OZK's payout ratio is presently 27.36%.

About Bank OZK

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.