Nisa Investment Advisors LLC Trims Stock Position in Bank OZK (NASDAQ:OZK)

Nisa Investment Advisors LLC trimmed its stake in Bank OZK (NASDAQ:OZK) by 36.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 42,369 shares of the company’s stock after selling 24,057 shares during the period. Nisa Investment Advisors LLC’s holdings in Bank OZK were worth $1,821,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. AQR Capital Management LLC lifted its position in Bank OZK by 291.5% in the second quarter. AQR Capital Management LLC now owns 2,371,892 shares of the company’s stock valued at $95,848,000 after acquiring an additional 1,765,974 shares during the last quarter. Van Berkom & Associates Inc. increased its position in shares of Bank OZK by 2.0% during the second quarter. Van Berkom & Associates Inc. now owns 2,024,130 shares of the company’s stock worth $82,989,000 after purchasing an additional 40,356 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Bank OZK by 21.9% in the 2nd quarter. American Century Companies Inc. now owns 1,642,293 shares of the company’s stock valued at $67,334,000 after purchasing an additional 295,298 shares during the last quarter. Millennium Management LLC boosted its position in shares of Bank OZK by 196.4% in the 2nd quarter. Millennium Management LLC now owns 1,365,393 shares of the company’s stock valued at $55,981,000 after purchasing an additional 904,782 shares during the period. Finally, Newport Trust Company LLC boosted its position in shares of Bank OZK by 2.0% in the 2nd quarter. Newport Trust Company LLC now owns 1,147,350 shares of the company’s stock valued at $47,041,000 after purchasing an additional 22,819 shares during the period. 86.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Piper Sandler raised their target price on shares of Bank OZK from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Morgan Stanley raised their price objective on shares of Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Stephens upped their target price on shares of Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Truist Financial lowered their price target on Bank OZK from $48.00 to $46.00 and set a “hold” rating on the stock in a report on Monday, October 21st. Finally, StockNews.com raised Bank OZK from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Bank OZK currently has an average rating of “Hold” and a consensus price target of $48.50.

Bank OZK Price Performance

Shares of OZK opened at $43.84 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12. The stock’s 50 day moving average is $42.69 and its two-hundred day moving average is $43.03. Bank OZK has a twelve month low of $36.14 and a twelve month high of $52.36. The firm has a market capitalization of $4.97 billion, a PE ratio of 7.21 and a beta of 1.16.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 11th were paid a $0.41 dividend. The ex-dividend date of this dividend was Friday, October 11th. This is an increase from Bank OZK’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.74%. Bank OZK’s payout ratio is 26.97%.

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.