Massachusetts Financial Services Co. MA Purchases Shares of 51,142 Bank OZK (NASDAQ:OZK)

Massachusetts Financial Services Co. MA acquired a new position in Bank OZK (NASDAQ:OZK) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 51,142 shares of the company’s stock, valued at approximately $2,097,000.

Several other large investors have also modified their holdings of OZK. PSI Advisors LLC lifted its position in Bank OZK by 20,933.3% during the 2nd quarter. PSI Advisors LLC now owns 631 shares of the company’s stock worth $26,000 after acquiring an additional 628 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Bank OZK during the 1st quarter worth about $29,000. Principal Securities Inc. bought a new stake in Bank OZK during the 4th quarter valued at approximately $31,000. Versant Capital Management Inc grew its holdings in Bank OZK by 423.0% in the 2nd quarter. Versant Capital Management Inc now owns 978 shares of the company’s stock valued at $40,000 after buying an additional 791 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in Bank OZK in the 2nd quarter worth approximately $46,000. 86.18% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on OZK. Wells Fargo & Company lowered their price objective on shares of Bank OZK from $39.00 to $35.00 and set an “underweight” rating on the stock in a research note on Thursday, June 6th. Stephens restated an “equal weight” rating and set a $50.00 price objective on shares of Bank OZK in a report on Thursday, July 18th. Raymond James cut shares of Bank OZK from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. StockNews.com upgraded Bank OZK from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Finally, Truist Financial reduced their price objective on Bank OZK from $49.00 to $48.00 and set a “hold” rating for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $46.57.

Bank OZK Price Performance

Shares of OZK stock opened at $42.76 on Monday. The stock’s fifty day simple moving average is $42.90 and its 200 day simple moving average is $43.16. Bank OZK has a one year low of $34.76 and a one year high of $52.36. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of 7.16 and a beta of 1.17. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.02 and a quick ratio of 1.02.

Bank OZK (NASDAQ:OZK) last issued its earnings results on Wednesday, July 17th. The company reported $1.52 EPS for the quarter, meeting the consensus estimate of $1.52. The company had revenue of $416.78 million for the quarter, compared to the consensus estimate of $414.39 million. Bank OZK had a net margin of 27.04% and a return on equity of 14.50%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.47 EPS. On average, analysts expect that Bank OZK will post 6.01 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Stockholders of record on Friday, July 12th were issued a dividend of $0.40 per share. This is a positive change from Bank OZK’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, July 12th. This represents a $1.60 annualized dividend and a dividend yield of 3.74%. Bank OZK’s dividend payout ratio (DPR) is presently 26.80%.

Bank OZK 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.