JPMorgan Chase & Co. Has $14.57 Million Stake in Bank OZK $OZK

JPMorgan Chase & Co. raised its stake in shares of Bank OZK (NASDAQ:OZK) by 21.8% in the 3rd quarter, Holdings Channel reports. The firm owned 285,876 shares of the company’s stock after purchasing an additional 51,171 shares during the quarter. JPMorgan Chase & Co.’s holdings in Bank OZK were worth $14,574,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Root Financial Partners LLC acquired a new stake in shares of Bank OZK in the third quarter valued at about $27,000. BOKF NA bought a new position in shares of Bank OZK during the third quarter worth about $27,000. Highline Wealth Partners LLC acquired a new position in shares of Bank OZK in the third quarter worth approximately $28,000. True Wealth Design LLC boosted its holdings in Bank OZK by 147.0% in the third quarter. True Wealth Design LLC now owns 568 shares of the company’s stock valued at $29,000 after acquiring an additional 338 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its holdings in Bank OZK by 82.2% in the third quarter. AdvisorNet Financial Inc now owns 665 shares of the company’s stock valued at $34,000 after acquiring an additional 300 shares during the last quarter. 86.18% of the stock is owned by institutional investors and hedge funds.

Bank OZK Price Performance

Shares of NASDAQ OZK opened at $45.41 on Friday. The firm has a market capitalization of $5.08 billion, a P/E ratio of 7.36 and a beta of 0.93. The firm’s 50-day moving average price is $47.22 and its 200-day moving average price is $47.59. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.08. Bank OZK has a 1-year low of $35.71 and a 1-year high of $53.66.

Bank OZK (NASDAQ:OZK) last issued its earnings results on Tuesday, January 20th. The company reported $1.53 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.03). Bank OZK had a net margin of 25.50% and a return on equity of 12.65%. The firm had revenue of $436.29 million during the quarter, compared to analyst estimates of $434.68 million. During the same quarter in the prior year, the business earned $1.56 earnings per share. Equities research analysts anticipate that Bank OZK will post 6.02 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 20th. Shareholders of record on Tuesday, January 13th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 4.1%. This is a boost from Bank OZK’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Tuesday, January 13th. Bank OZK’s payout ratio is 29.82%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on OZK. Piper Sandler set a $62.00 price target on shares of Bank OZK in a report on Thursday, January 22nd. Citigroup reaffirmed a “sell” rating on shares of Bank OZK in a research note on Monday, January 5th. Morgan Stanley increased their price objective on shares of Bank OZK from $57.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. TD Cowen lowered their target price on shares of Bank OZK from $56.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, January 22nd. Finally, Wall Street Zen upgraded shares of Bank OZK from a “sell” rating to a “hold” rating in a report on Saturday, January 3rd. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $57.22.

Bank OZK Profile

Bank OZK, formerly known as Bank of the Ozarks, is a regional commercial bank headquartered in Little Rock, Arkansas. Established in 1903, the bank offers a full suite of banking products and services to both individual and corporate clients. Through a combination of organic growth and targeted acquisitions, Bank OZK has built a diversified lending portfolio and a strong deposit franchise.

The bank’s core operations focus on commercial real estate lending, including acquisition, development and construction financing.