Point72 DIFC Ltd Buys New Stake in Bank OZK (NASDAQ:OZK)

Point72 DIFC Ltd acquired a new position in shares of Bank OZK (NASDAQ:OZK - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 25,236 shares of the company's stock, valued at approximately $1,085,000.

Several other large investors have also modified their holdings of OZK. HighTower Advisors LLC purchased a new position in Bank OZK during the 3rd quarter worth approximately $392,000. Benjamin Edwards Inc. boosted its holdings in shares of Bank OZK by 50.5% in the third quarter. Benjamin Edwards Inc. now owns 7,372 shares of the company's stock valued at $317,000 after acquiring an additional 2,474 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Bank OZK during the third quarter worth approximately $199,000. Point72 Hong Kong Ltd acquired a new position in shares of Bank OZK in the 3rd quarter valued at $1,771,000. Finally, Edgestream Partners L.P. raised its position in Bank OZK by 129.4% in the 3rd quarter. Edgestream Partners L.P. now owns 161,291 shares of the company's stock valued at $6,934,000 after purchasing an additional 90,977 shares during the last quarter. Institutional investors and hedge funds own 86.18% of the company's stock.

Bank OZK Price Performance

OZK traded up $0.14 on Friday, hitting $47.49. 527,153 shares of the company were exchanged, compared to its average volume of 1,265,940. Bank OZK has a fifty-two week low of $37.43 and a fifty-two week high of $52.36. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $5.39 billion, a P/E ratio of 7.81 and a beta of 1.18. The business's fifty day moving average is $45.82 and its 200 day moving average is $43.34.

Bank OZK (NASDAQ:OZK - Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The company reported $1.55 earnings per share for the quarter, topping analysts' consensus estimates of $1.53 by $0.02. The business had revenue of $423.00 million for the quarter, compared to analysts' expectations of $419.08 million. Bank OZK had a return on equity of 14.15% and a net margin of 26.07%. As a group, sell-side analysts anticipate that Bank OZK will post 6.03 EPS for the current year.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 11th were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.45%. The ex-dividend date was Friday, October 11th. This is an increase from Bank OZK's previous quarterly dividend of $0.40. Bank OZK's payout ratio is 26.97%.

Analysts Set New Price Targets

A number of research analysts have commented on OZK shares. Stephens lifted their price objective on shares of Bank OZK from $48.00 to $51.00 and gave the company an "equal weight" rating in a research note on Monday, October 21st. Truist Financial reduced their price objective on Bank OZK from $48.00 to $46.00 and set a "hold" rating for the company in a research note on Monday, October 21st. Raymond James downgraded Bank OZK from an "outperform" rating to a "market perform" rating in a research note on Tuesday, September 17th. Wells Fargo & Company upped their price target on Bank OZK from $35.00 to $40.00 and gave the stock an "underweight" rating in a research note on Tuesday. Finally, Piper Sandler lifted their price objective on shares of Bank OZK from $58.00 to $63.00 and gave the company an "overweight" rating in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Bank OZK presently has a consensus rating of "Hold" and a consensus price target of $49.13.

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.