CWA Asset Management Group LLC Invests $719,000 in Bank OZK (NASDAQ:OZK)

CWA Asset Management Group LLC bought a new stake in Bank OZK (NASDAQ:OZK - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 16,723 shares of the company's stock, valued at approximately $719,000.

A number of other hedge funds have also recently made changes to their positions in OZK. AQR Capital Management LLC boosted its stake in Bank OZK by 291.5% during the second quarter. AQR Capital Management LLC now owns 2,371,892 shares of the company's stock worth $95,848,000 after acquiring an additional 1,765,974 shares in the last quarter. Millennium Management LLC grew its position in 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 acquiring an additional 904,782 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Bank OZK by 483.9% in the 2nd quarter. Victory Capital Management Inc. now owns 980,358 shares of the company's stock valued at $40,195,000 after purchasing an additional 812,464 shares in the last quarter. Berkley W R Corp acquired a new stake in Bank OZK in the second quarter worth about $24,600,000. Finally, D. E. Shaw & Co. Inc. lifted its position in Bank OZK by 115.0% during the second quarter. D. E. Shaw & Co. Inc. now owns 715,844 shares of the company's stock valued at $29,350,000 after purchasing an additional 382,896 shares during the period. 86.18% of the stock is owned by institutional investors and hedge funds.

Bank OZK Stock Performance

Shares of OZK stock traded up $2.08 during trading hours on Monday, hitting $48.54. The company's stock had a trading volume of 965,094 shares, compared to its average volume of 1,281,793. The company has a 50 day moving average of $43.00 and a 200 day moving average of $43.08. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12. Bank OZK has a 12-month low of $36.99 and a 12-month high of $52.36. The stock has a market cap of $5.51 billion, a PE ratio of 7.64 and a beta of 1.16.

Bank OZK (NASDAQ:OZK - Get Free Report) last issued its earnings results on Thursday, October 17th. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.02. The firm had revenue of $423.00 million for the quarter, compared to analysts' expectations of $419.08 million. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. On average, sell-side analysts forecast that Bank OZK will post 6.01 EPS for the current fiscal year.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 11th were paid a $0.41 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.64 annualized dividend and a dividend yield of 3.38%. This is a positive change from Bank OZK's previous quarterly dividend of $0.40. Bank OZK's dividend payout ratio (DPR) is presently 26.97%.

Analysts Set New Price Targets

OZK has been the subject of a number of research analyst reports. Piper Sandler increased their target price on shares of Bank OZK from $58.00 to $63.00 and gave the company an "overweight" rating in a report on Friday, October 18th. Morgan Stanley lifted their target price on Bank OZK from $48.00 to $51.00 and gave the stock an "equal weight" rating in a research report on Monday, August 5th. Raymond James downgraded Bank OZK from an "outperform" rating to a "market perform" rating in a research report on Tuesday, September 17th. Stephens boosted their target price on shares of Bank OZK from $48.00 to $51.00 and gave the stock an "equal weight" rating in a report on Monday, October 21st. Finally, Truist Financial lowered their price objective 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. Two investment 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's stock. According to data from MarketBeat.com, Bank OZK currently has an average rating of "Hold" and an average 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.