MMA Asset Management LLC Takes $342,000 Position in Bank OZK (NASDAQ:OZK)

MMA Asset Management LLC purchased a new stake in Bank OZK (NASDAQ:OZK) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,677 shares of the company’s stock, valued at approximately $342,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Bank OZK by 15.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 55,911 shares of the company’s stock valued at $2,404,000 after buying an additional 7,346 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of Bank OZK by 92.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 14,738 shares of the company’s stock valued at $616,000 after buying an additional 7,077 shares during the period. State of Alaska Department of Revenue lifted its stake in shares of Bank OZK by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 12,194 shares of the company’s stock valued at $524,000 after buying an additional 830 shares during the period. EMC Capital Management lifted its stake in shares of Bank OZK by 141.7% in the third quarter. EMC Capital Management now owns 18,214 shares of the company’s stock valued at $818,000 after buying an additional 10,678 shares during the period. Finally, F M Investments LLC lifted its stake in shares of Bank OZK by 1.0% in the third quarter. F M Investments LLC now owns 201,211 shares of the company’s stock valued at $8,650,000 after buying an additional 2,073 shares during the period. 86.18% of the stock is owned by institutional investors and hedge funds.

Bank OZK Stock Performance

NASDAQ:OZK opened at $48.01 on Friday. Bank OZK has a 1 year low of $37.43 and a 1 year high of $53.64. The firm has a 50 day moving average of $48.05 and a 200-day moving average of $45.67. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $5.45 billion, a P/E ratio of 7.82 and a beta of 1.20.

Bank OZK (NASDAQ:OZK) last posted its earnings results on Thursday, January 16th. The company reported $1.56 earnings per share (EPS) for the quarter, beating 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 company had revenue of $412.34 million during the quarter, compared to analysts’ expectations of $407.19 million. During the same quarter in the previous year, the company posted $1.50 earnings per share. Bank OZK’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The company 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. The ex-dividend date of this dividend was Tuesday, January 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.50%. This is a boost from Bank OZK’s previous quarterly dividend of $0.41. Bank OZK’s payout ratio is 27.36%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. UBS Group started coverage on shares of Bank OZK in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 target price for the company. Wells Fargo & Company upgraded 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 note 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 note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Bank OZK has an average rating of “Hold” and an average price target 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.