Los Angeles Capital Management LLC Buys 4,710 Shares of Bank OZK (NASDAQ:OZK)

Los Angeles Capital Management LLC lifted its stake in shares of Bank OZK (NASDAQ:OZK) by 72.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,248 shares of the company’s stock after acquiring an additional 4,710 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Bank OZK were worth $484,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OZK. AQR Capital Management LLC boosted its position in shares of Bank OZK by 291.5% in the second quarter. AQR Capital Management LLC now owns 2,371,892 shares of the company’s stock worth $95,848,000 after purchasing an additional 1,765,974 shares during the period. Millennium Management LLC boosted its holdings in Bank OZK by 196.4% in the 2nd quarter. Millennium Management LLC now owns 1,365,393 shares of the company’s stock worth $55,981,000 after buying an additional 904,782 shares during the period. Victory Capital Management Inc. increased its stake in Bank OZK by 483.9% in the 2nd quarter. Victory Capital Management Inc. now owns 980,358 shares of the company’s stock worth $40,195,000 after buying an additional 812,464 shares in the last quarter. Berkley W R Corp bought a new stake in Bank OZK during the second quarter valued at about $24,600,000. Finally, D. E. Shaw & Co. Inc. lifted its position in shares of Bank OZK by 115.0% in the second quarter. D. E. Shaw & Co. Inc. now owns 715,844 shares of the company’s stock valued at $29,350,000 after acquiring an additional 382,896 shares in the last quarter. 86.18% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OZK has been the subject of several research analyst reports. Raymond James cut Bank OZK from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. Truist Financial cut their price objective on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company in a report on Monday, October 21st. Piper Sandler lifted 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. Morgan Stanley upped their target price on shares of 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, Stephens lifted their price target on shares of Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $48.50.

Bank OZK Stock Up 1.5 %

Shares of NASDAQ OZK opened at $48.49 on Friday. 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 $37.43 and a 12-month high of $52.36. The firm’s 50-day moving average price is $43.65 and its 200-day moving average price is $43.19. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of 7.98 and a beta of 1.16.

Bank OZK (NASDAQ:OZK) last issued 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. The business had revenue of $423.00 million for the quarter, compared to the consensus estimate of $419.08 million. Bank OZK had a return on equity of 14.15% and a net margin of 26.07%. On average, equities research analysts anticipate that Bank OZK will post 6.03 EPS for the current fiscal year.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 11th were given a dividend of $0.41 per share. This is a boost from Bank OZK’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, October 11th. This represents a $1.64 dividend on an annualized basis and a yield of 3.38%. Bank OZK’s payout ratio is 26.97%.

About Bank OZK

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.