Citigroup Inc. Has $12.50 Million Position in Bank OZK (NASDAQ:OZK)

Citigroup Inc. lifted its holdings in Bank OZK (NASDAQ:OZK - Free Report) by 5.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 290,787 shares of the company's stock after acquiring an additional 15,265 shares during the period. Citigroup Inc. owned approximately 0.26% of Bank OZK worth $12,501,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in OZK. SG Americas Securities LLC purchased a new position in shares of Bank OZK during the 2nd quarter valued at approximately $873,000. D. E. Shaw & Co. Inc. boosted its stake in Bank OZK by 115.0% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 715,844 shares of the company's stock valued at $29,350,000 after acquiring an additional 382,896 shares during the last quarter. M&G Plc grew its holdings in Bank OZK by 12.4% during the 2nd quarter. M&G Plc now owns 210,801 shares of the company's stock worth $8,643,000 after acquiring an additional 23,309 shares in the last quarter. Artemis Investment Management LLP bought a new stake in shares of Bank OZK in the 2nd quarter worth about $3,623,000. Finally, Quest Partners LLC raised its stake in shares of Bank OZK by 4,174.3% in the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 86.18% of the company's stock.

Bank OZK Price Performance

Bank OZK stock traded up $0.03 during trading hours on Friday, hitting $49.97. 532,822 shares of the company traded hands, compared to its average volume of 1,276,053. Bank OZK has a 1-year low of $37.43 and a 1-year high of $52.36. The firm has a market cap of $5.67 billion, a P/E ratio of 8.21 and a beta of 1.16. The firm's 50-day simple moving average is $45.04 and its two-hundred day simple moving average is $43.35. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12.

Bank OZK (NASDAQ:OZK - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.02. The company 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, analysts forecast that Bank OZK will post 6.03 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 11th were issued a $0.41 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.64 annualized dividend and a dividend yield of 3.28%. This is a boost from Bank OZK's previous quarterly dividend of $0.40. Bank OZK's dividend payout ratio is currently 26.97%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Truist Financial dropped their price target on 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 raised their price target 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, October 21st. Raymond James downgraded shares of Bank OZK from an "outperform" rating to a "market perform" rating in a research report on Tuesday, September 17th. Piper Sandler increased their price objective on shares of Bank OZK from $58.00 to $63.00 and gave the stock an "overweight" rating in a research note on Friday, October 18th. Finally, Morgan Stanley lifted their target price on Bank OZK from $48.00 to $51.00 and gave the company an "equal weight" rating in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $48.50.

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.