Point72 Hong Kong Ltd Buys New Position in Bank OZK (NASDAQ:OZK)

Point72 Hong Kong Ltd bought a new stake in shares of Bank OZK (NASDAQ:OZK - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 41,204 shares of the company's stock, valued at approximately $1,771,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tidal Investments LLC increased its holdings in shares of Bank OZK by 4.0% during the first quarter. Tidal Investments LLC now owns 5,491 shares of the company's stock valued at $250,000 after acquiring an additional 210 shares in the last quarter. Evergreen Capital Management LLC boosted its position in shares of Bank OZK by 8.3% during the second quarter. Evergreen Capital Management LLC now owns 5,079 shares of the company's stock valued at $208,000 after buying an additional 388 shares during the last quarter. Naples Global Advisors LLC boosted its position in shares of Bank OZK by 2.5% during the second quarter. Naples Global Advisors LLC now owns 16,550 shares of the company's stock valued at $679,000 after buying an additional 400 shares during the last quarter. Raymond James Trust N.A. boosted its position in shares of Bank OZK by 6.0% during the third quarter. Raymond James Trust N.A. now owns 7,184 shares of the company's stock valued at $309,000 after buying an additional 407 shares during the last quarter. Finally, Assetmark Inc. boosted its position in shares of Bank OZK by 73.8% during the third quarter. Assetmark Inc. now owns 968 shares of the company's stock valued at $42,000 after buying an additional 411 shares during the last quarter. Institutional investors own 86.18% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on OZK shares. Truist Financial dropped their target price 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 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, October 21st. Raymond James cut Bank OZK from an "outperform" rating to a "market perform" rating in a research report on Tuesday, September 17th. Morgan Stanley raised 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. Finally, Piper Sandler raised their target price on Bank OZK from $58.00 to $63.00 and gave the stock an "overweight" rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $48.50.

Bank OZK Trading Down 1.1 %

Shares of Bank OZK stock traded down $0.57 on Monday, reaching $49.40. The company had a trading volume of 313,320 shares, compared to its average volume of 1,271,758. The firm has a market cap of $5.60 billion, a price-to-earnings ratio of 8.22 and a beta of 1.16. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. The firm's 50-day moving average price is $45.19 and its two-hundred day moving average price is $43.28. Bank OZK has a 1 year low of $37.43 and a 1 year high of $52.36.

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

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 11th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.32%. This is a boost from Bank OZK's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, October 11th. Bank OZK's dividend payout ratio is currently 26.97%.

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.