Millennium Management LLC Acquires 904,782 Shares of Bank OZK (NASDAQ:OZK)

Millennium Management LLC boosted its holdings in shares of Bank OZK (NASDAQ:OZK) by 196.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,365,393 shares of the company’s stock after purchasing an additional 904,782 shares during the period. Millennium Management LLC’s holdings in Bank OZK were worth $55,981,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of OZK. Tidal Investments LLC raised its holdings in shares of Bank OZK by 4.0% in the first quarter. Tidal Investments LLC now owns 5,491 shares of the company’s stock valued at $250,000 after buying an additional 210 shares during the last quarter. HB Wealth Management LLC raised its stake in shares of Bank OZK by 3.9% in the first quarter. HB Wealth Management LLC now owns 6,607 shares of the company’s stock worth $300,000 after acquiring an additional 249 shares during the last quarter. Personal CFO Solutions LLC lifted its position in shares of Bank OZK by 4.0% during the fourth quarter. Personal CFO Solutions LLC now owns 8,465 shares of the company’s stock worth $422,000 after purchasing an additional 329 shares in the last quarter. Evergreen Capital Management LLC grew its stake in shares of Bank OZK by 8.3% during the second quarter. Evergreen Capital Management LLC now owns 5,079 shares of the company’s stock valued at $208,000 after purchasing an additional 388 shares during the last quarter. Finally, Naples Global Advisors LLC grew its stake in shares of Bank OZK by 2.5% during the second quarter. Naples Global Advisors LLC now owns 16,550 shares of the company’s stock valued at $679,000 after purchasing an additional 400 shares during the last quarter. Institutional investors own 86.18% of the company’s stock.

Bank OZK Stock Performance

Shares of OZK stock opened at $42.99 on Tuesday. The stock has a market cap of $4.88 billion, a PE ratio of 7.20 and a beta of 1.17. The stock has a 50-day moving average of $42.50 and a 200-day moving average of $43.09. 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 has a one year low of $34.76 and a one year high of $52.36.

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 firm had revenue of $416.78 million during 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 business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.47 earnings per share. As a group, sell-side analysts expect that Bank OZK will post 5.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Truist Financial lowered their target price on Bank OZK from $49.00 to $48.00 and set a “hold” rating for the company in a research note on Friday, September 20th. Morgan Stanley lifted their price objective on Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Raymond James downgraded shares of Bank OZK from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. Stephens reiterated an “equal weight” rating and set a $50.00 price target on shares of Bank OZK in a research report on Thursday, July 18th. Finally, Wells Fargo & Company cut their price objective on shares of Bank OZK from $39.00 to $35.00 and set an “underweight” rating on the stock in a report on Thursday, June 6th. Two research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $46.57.

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.