1832 Asset Management L.P. lifted its stake in shares of Bank OZK (NASDAQ:OZK – Free Report) by 65.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,461 shares of the company’s stock after purchasing an additional 6,511 shares during the quarter. 1832 Asset Management L.P.’s holdings in Bank OZK were worth $675,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in OZK. PSI Advisors LLC grew its position in Bank OZK by 20,933.3% during the second quarter. PSI Advisors LLC now owns 631 shares of the company’s stock worth $26,000 after buying an additional 628 shares during the period. LRI Investments LLC purchased a new stake in shares of Bank OZK during the 1st quarter worth approximately $29,000. Versant Capital Management Inc boosted its stake in shares of Bank OZK by 423.0% during the 2nd quarter. Versant Capital Management Inc now owns 978 shares of the company’s stock worth $40,000 after acquiring an additional 791 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Bank OZK in the 2nd quarter worth approximately $46,000. Finally, Pathway Financial Advisers LLC purchased a new position in Bank OZK in the 1st quarter valued at approximately $60,000. Hedge funds and other institutional investors own 86.18% of the company’s stock.
Bank OZK Stock Performance
Shares of OZK opened at $41.72 on Friday. Bank OZK has a 1 year low of $34.76 and a 1 year high of $52.36. The company’s 50 day simple moving average is $42.57 and its 200 day simple moving average is $43.10. The company has a market capitalization of $4.73 billion, a price-to-earnings ratio of 6.99 and a beta of 1.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.02 and a current ratio of 1.02.
Bank OZK Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 12th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.84%. This is a positive change from Bank OZK’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, July 12th. Bank OZK’s dividend payout ratio (DPR) is presently 26.80%.
Wall Street Analysts Forecast Growth
OZK has been the topic of several research reports. StockNews.com raised Bank OZK from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Stephens reissued an “equal weight” rating and issued a $50.00 price objective on shares of Bank OZK in a research note on Thursday, July 18th. Wells Fargo & Company dropped their target price on shares of Bank OZK from $39.00 to $35.00 and set an “underweight” rating for the company in a report on Thursday, June 6th. Truist Financial reduced their price target on shares of Bank OZK from $49.00 to $48.00 and set a “hold” rating on the stock in a report on Friday, September 20th. Finally, Raymond James cut shares of Bank OZK from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. 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.com, the stock currently has an average rating of “Hold” and an average target price of $46.57.
Check Out Our Latest Report on OZK
About Bank OZK
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.
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