BNP Paribas Financial Markets Raises Stock Position in Bank OZK (NASDAQ:OZK)

BNP Paribas Financial Markets grew its stake in shares of Bank OZK (NASDAQ:OZK) by 395.2% in the third quarter, Holdings Channel.com reports. The fund owned 311,866 shares of the company’s stock after purchasing an additional 248,889 shares during the period. BNP Paribas Financial Markets’ holdings in Bank OZK were worth $13,407,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Quantbot Technologies LP raised its holdings in Bank OZK by 43.0% during the third quarter. Quantbot Technologies LP now owns 270,132 shares of the company’s stock worth $11,613,000 after purchasing an additional 81,265 shares during the last quarter. Senvest Management LLC acquired a new stake in Bank OZK in the third quarter valued at $22,306,000. Alpha DNA Investment Management LLC purchased a new position in shares of Bank OZK in the third quarter valued at $529,000. Algert Global LLC raised its stake in shares of Bank OZK by 43.3% during the 3rd quarter. Algert Global LLC now owns 284,551 shares of the company’s stock worth $12,233,000 after buying an additional 86,012 shares during the last quarter. Finally, Cerity Partners LLC boosted its position in shares of Bank OZK by 112.8% in the 3rd quarter. Cerity Partners LLC now owns 51,717 shares of the company’s stock worth $2,223,000 after buying an additional 27,409 shares in the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on OZK shares. Piper Sandler raised their target price on shares of Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Raymond James downgraded Bank OZK from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 17th. Morgan Stanley upped their target price on Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Stephens raised their price target 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. Finally, Truist Financial reduced their price objective 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $48.50.

Bank OZK Price Performance

Shares of NASDAQ:OZK opened at $49.97 on Monday. The company has a market cap of $5.67 billion, a PE ratio of 8.22 and a beta of 1.16. Bank OZK has a fifty-two week low of $37.43 and a fifty-two week high of $52.36. The firm has a 50-day simple moving average of $45.19 and a 200 day simple moving average of $43.28. 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 (NASDAQ:OZK) last posted its earnings results 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 company had revenue of $423.00 million for the quarter, compared to analysts’ expectations of $419.08 million. Bank OZK had a return on equity of 14.15% and a net margin of 26.07%. On average, sell-side analysts anticipate that Bank OZK will post 6.03 EPS for the current year.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 11th were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date was Friday, October 11th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.40. Bank OZK’s dividend payout ratio is currently 26.97%.

Bank OZK 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.