Park Avenue Securities LLC Acquires New Holdings in Bank OZK (NASDAQ:OZK)

Park Avenue Securities LLC bought a new position in Bank OZK (NASDAQ:OZK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,096 shares of the company’s stock, valued at approximately $227,000.

Several other hedge funds have also modified their holdings of the company. Wellington Management Group LLP grew its position in Bank OZK by 32.7% during the 3rd quarter. Wellington Management Group LLP now owns 4,223,452 shares of the company’s stock worth $181,566,000 after purchasing an additional 1,041,198 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Bank OZK by 124.6% during the third quarter. Captrust Financial Advisors now owns 1,698,856 shares of the company’s stock valued at $73,034,000 after buying an additional 942,309 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Bank OZK by 196.4% during the second quarter. Millennium Management LLC now owns 1,365,393 shares of the company’s stock valued at $55,981,000 after buying an additional 904,782 shares during the last quarter. Senvest Management LLC acquired a new position in shares of Bank OZK in the 3rd quarter valued at $22,306,000. Finally, State Street Corp raised its stake in Bank OZK by 7.3% in the 3rd quarter. State Street Corp now owns 7,106,907 shares of the company’s stock worth $305,526,000 after acquiring an additional 485,172 shares during the last quarter. 86.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on OZK shares. Piper Sandler increased their price objective on Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Wells Fargo & Company raised 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 report on Tuesday, January 21st. UBS Group started coverage on shares of Bank OZK in a report on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 price objective on the stock. Truist Financial reduced their target price on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company in a report on Monday, October 21st. Finally, Stephens upped their price target on shares of Bank OZK from $53.00 to $57.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. 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 company’s stock. According to MarketBeat, Bank OZK presently has a consensus rating of “Hold” and an average target price of $50.00.

Bank OZK Stock Up 0.1 %

Shares of NASDAQ OZK opened at $50.93 on Monday. The stock has a market cap of $5.78 billion, a PE ratio of 8.29 and a beta of 1.20. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.16. Bank OZK has a 12-month low of $37.43 and a 12-month high of $51.50. The company has a 50-day moving average of $46.66 and a 200 day moving average of $44.59.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings results on Thursday, January 16th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.44 by $0.12. The firm had revenue of $412.34 million during the quarter, compared to analysts’ expectations of $407.19 million. Bank OZK had a return on equity of 13.90% and a net margin of 25.83%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.50 earnings per share. As a group, sell-side analysts predict that Bank OZK will post 5.97 EPS for the current fiscal year.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Tuesday, January 14th were issued a $0.42 dividend. The ex-dividend date was Tuesday, January 14th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.30%. This is a positive change from Bank OZK’s previous quarterly dividend of $0.41. Bank OZK’s dividend payout ratio is currently 27.36%.

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.