State Street Corp Increases Stock Holdings in Bank OZK (NASDAQ:OZK)

State Street Corp grew its position in shares of Bank OZK (NASDAQ:OZK - Free Report) by 7.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,106,907 shares of the company's stock after purchasing an additional 485,172 shares during the quarter. State Street Corp owned approximately 6.26% of Bank OZK worth $305,526,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in OZK. PSI Advisors LLC boosted its stake in Bank OZK by 20,933.3% during the 2nd quarter. PSI Advisors LLC now owns 631 shares of the company's stock worth $26,000 after purchasing an additional 628 shares during the period. Assetmark Inc. boosted its stake in shares of Bank OZK by 73.8% during the third quarter. Assetmark Inc. now owns 968 shares of the company's stock worth $42,000 after buying an additional 411 shares during the period. American National Bank & Trust purchased a new position in shares of Bank OZK during the third quarter worth about $44,000. Innealta Capital LLC acquired a new position in Bank OZK in the 2nd quarter valued at about $46,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in Bank OZK during the 2nd quarter valued at approximately $49,000. Institutional investors and hedge funds own 86.18% of the company's stock.

Bank OZK Trading Up 1.2 %

Shares of OZK stock traded up $0.56 during mid-day trading on Wednesday, hitting $47.78. 442,555 shares of the company's stock were exchanged, compared to its average volume of 1,259,086. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of 7.77 and a beta of 1.18. 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 has a fifty-two week low of $37.43 and a fifty-two week high of $52.36. The stock has a 50-day simple moving average of $46.02 and a two-hundred day simple moving average of $43.29.

Bank OZK (NASDAQ:OZK - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.53 by $0.02. The firm had revenue of $423.00 million during the quarter, compared to analyst estimates of $419.08 million. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. Equities analysts expect that Bank OZK will post 6.03 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 dividend of $0.41 per share. The ex-dividend date of this dividend was Friday, October 11th. This is a positive change from Bank OZK's previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 3.43%. Bank OZK's dividend payout ratio is currently 26.97%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on OZK. 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 report on Monday, October 21st. Stephens boosted their price objective on shares of Bank OZK from $48.00 to $51.00 and gave the company an "equal weight" rating in a research note on Monday, October 21st. Wells Fargo & Company raised their target price on shares of Bank OZK from $35.00 to $40.00 and gave the stock an "underweight" rating in a research note on Tuesday, December 3rd. Raymond James lowered shares of Bank OZK from an "outperform" rating to a "market perform" rating in a research note on Tuesday, September 17th. Finally, Piper Sandler raised their price objective on shares of Bank OZK from $58.00 to $63.00 and gave the company an "overweight" rating in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $49.13.

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.