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Point72 Asset Management L.P. Reduces Stock Position in Bank OZK (NASDAQ:OZK)

Bank OZK logo with Finance background

Point72 Asset Management L.P. decreased its position in Bank OZK (NASDAQ:OZK - Free Report) by 97.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,600 shares of the company's stock after selling 238,003 shares during the quarter. Point72 Asset Management L.P.'s holdings in Bank OZK were worth $284,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in shares of Bank OZK by 291.5% during the 2nd 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. Captrust Financial Advisors boosted its holdings in Bank OZK by 124.6% in the third quarter. Captrust Financial Advisors now owns 1,698,856 shares of the company's stock valued at $73,034,000 after purchasing an additional 942,309 shares in the last quarter. Millennium Management LLC increased its stake in Bank OZK by 196.4% in the second quarter. Millennium Management LLC now owns 1,365,393 shares of the company's stock valued at $55,981,000 after purchasing an additional 904,782 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Bank OZK by 483.9% during the second quarter. Victory Capital Management Inc. now owns 980,358 shares of the company's stock worth $40,195,000 after purchasing an additional 812,464 shares in the last quarter. Finally, Berkley W R Corp purchased a new stake in shares of Bank OZK during the 2nd quarter worth approximately $24,600,000. Hedge funds and other institutional investors own 86.18% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Raymond James lowered Bank OZK from an "outperform" rating to a "market perform" rating in a report on Tuesday, September 17th. Wells Fargo & Company lifted their price target on Bank OZK from $35.00 to $40.00 and gave the stock an "underweight" rating in a research report on Tuesday, December 3rd. Piper Sandler increased their price objective 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 cut their target price on shares of Bank OZK from $48.00 to $46.00 and set a "hold" rating on the stock in a report on Monday, October 21st. Finally, Stephens increased 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 note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $49.13.

Check Out Our Latest Analysis on Bank OZK

Bank OZK Stock Performance

Bank OZK stock traded down $0.44 during trading hours on Friday, reaching $46.79. 830,713 shares of the stock were exchanged, compared to its average volume of 1,255,956. The stock has a market cap of $5.31 billion, a P/E ratio of 7.70 and a beta of 1.18. The firm's 50 day moving average is $46.33 and its 200 day moving average is $43.35. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. Bank OZK has a 52-week low of $37.43 and a 52-week high of $52.36.

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

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 11th were paid a $0.41 dividend. The ex-dividend date was Friday, October 11th. This is an increase from Bank OZK's previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.51%. Bank OZK's payout ratio is 26.97%.

Bank OZK Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Bank OZK (NASDAQ:OZK)

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