State of Alaska Department of Revenue Has $524,000 Holdings in Bank OZK (NASDAQ:OZK)

State of Alaska Department of Revenue grew its holdings in Bank OZK (NASDAQ:OZK) by 7.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,194 shares of the company’s stock after purchasing an additional 830 shares during the period. State of Alaska Department of Revenue’s holdings in Bank OZK were worth $524,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. M&G Plc purchased a new position in Bank OZK in the first quarter valued at about $8,437,000. State Board of Administration of Florida Retirement System grew its stake in shares of Bank OZK by 27.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 140,492 shares of the company’s stock valued at $6,387,000 after buying an additional 29,993 shares in the last quarter. SG Americas Securities LLC acquired a new position in Bank OZK in the second quarter worth approximately $873,000. BNP Paribas Financial Markets raised its position in Bank OZK by 211.3% during the first quarter. BNP Paribas Financial Markets now owns 61,181 shares of the company’s stock valued at $2,781,000 after acquiring an additional 41,527 shares in the last quarter. Finally, Natixis acquired a new stake in Bank OZK in the first quarter valued at approximately $868,000. Institutional investors and hedge funds own 86.18% of the company’s stock.

Bank OZK Price Performance

Shares of NASDAQ:OZK opened at $47.39 on Friday. The company has a market cap of $5.38 billion, a price-to-earnings ratio of 7.79 and a beta of 1.16. The business has a 50 day moving average price of $42.94 and a 200 day moving average price of $43.12. 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 twelve month low of $36.76 and a twelve month high of $52.36.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 11th were given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.46%. 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%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Raymond James downgraded shares of Bank OZK from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 17th. Truist Financial cut 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. Morgan Stanley upped their price target on Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Stephens raised their price objective on Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Finally, Piper Sandler upped 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 assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.