Cerity Partners LLC Grows Position in Bank OZK (NASDAQ:OZK)

Cerity Partners LLC increased its holdings in shares of Bank OZK (NASDAQ:OZK - Free Report) by 112.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,717 shares of the company's stock after purchasing an additional 27,409 shares during the period. Cerity Partners LLC's holdings in Bank OZK were worth $2,223,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of OZK. SG Americas Securities LLC acquired a new position in Bank OZK in the 2nd quarter valued at $873,000. D. E. Shaw & Co. Inc. increased its stake in shares of Bank OZK by 115.0% during the second quarter. D. E. Shaw & Co. Inc. now owns 715,844 shares of the company's stock worth $29,350,000 after acquiring an additional 382,896 shares during the period. M&G Plc raised its holdings in Bank OZK by 12.4% during the second quarter. M&G Plc now owns 210,801 shares of the company's stock worth $8,643,000 after purchasing an additional 23,309 shares in the last quarter. Artemis Investment Management LLP purchased a new position in Bank OZK during the second quarter worth about $3,623,000. Finally, Quest Partners LLC lifted its position in Bank OZK by 4,174.3% in the third quarter. Quest Partners LLC now owns 58,815 shares of the company's stock valued at $2,528,000 after purchasing an additional 57,439 shares during the period. 86.18% of the stock is owned by hedge funds and other institutional investors.

Bank OZK Trading Down 2.2 %

Shares of Bank OZK stock traded down $1.10 during trading hours on Monday, reaching $48.87. 1,161,061 shares of the company's stock were exchanged, compared to its average volume of 1,275,557. Bank OZK has a 52-week low of $37.43 and a 52-week high of $52.36. The company has a fifty day moving average of $45.32 and a 200-day moving average of $43.29. 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 firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of 8.04 and a beta of 1.16.

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

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 11th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.36%. This is an increase from Bank OZK's previous quarterly dividend of $0.40. The ex-dividend date was Friday, October 11th. Bank OZK's payout ratio is presently 26.97%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on OZK. Morgan Stanley increased their target price on Bank OZK from $48.00 to $51.00 and gave the stock an "equal weight" rating in a research note on Monday, August 5th. Piper Sandler raised their target price on Bank OZK from $58.00 to $63.00 and gave the company an "overweight" rating in a report on Friday, October 18th. Truist Financial decreased their target price on shares of Bank OZK from $48.00 to $46.00 and set a "hold" rating on the stock in a research report on Monday, October 21st. Stephens upped their price target on Bank OZK from $48.00 to $51.00 and gave the stock an "equal weight" rating in a report on Monday, October 21st. Finally, Raymond James cut shares of Bank OZK from an "outperform" rating to a "market perform" rating in a research report on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $48.50.

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.