Freedom Investment Management Inc. Has $256,000 Stock Position in Bank OZK (NASDAQ:OZK)

Freedom Investment Management Inc. lessened its position in shares of Bank OZK (NASDAQ:OZK) by 17.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,952 shares of the company’s stock after selling 1,237 shares during the quarter. Freedom Investment Management Inc.’s holdings in Bank OZK were worth $256,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in shares of Bank OZK by 2.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,941,431 shares of the company’s stock valued at $169,442,000 after acquiring an additional 112,648 shares during the last quarter. AQR Capital Management LLC raised its holdings in 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. Van Berkom & Associates Inc. grew its holdings in shares of Bank OZK by 2.0% in the 2nd quarter. Van Berkom & Associates Inc. now owns 2,024,130 shares of the company’s stock valued at $82,989,000 after buying an additional 40,356 shares during the period. American Century Companies Inc. increased its position in shares of Bank OZK by 21.9% in the 2nd quarter. American Century Companies Inc. now owns 1,642,293 shares of the company’s stock valued at $67,334,000 after buying an additional 295,298 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Bank OZK by 196.4% during the second quarter. Millennium Management LLC now owns 1,365,393 shares of the company’s stock worth $55,981,000 after purchasing an additional 904,782 shares during the period. Institutional investors own 86.18% of the company’s stock.

Bank OZK Price Performance

Bank OZK stock opened at $49.97 on Monday. The stock’s 50 day moving average is $45.19 and its 200-day moving average is $43.28. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 8.22 and a beta of 1.16. Bank OZK has a 12 month low of $37.43 and a 12 month high of $52.36. 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 (NASDAQ:OZK) last posted its quarterly earnings data on Thursday, October 17th. The company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.02. The firm 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%. Equities research analysts expect that Bank OZK will post 6.03 EPS for the current year.

Bank OZK Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 3.28%. This is an increase from Bank OZK’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, October 11th. Bank OZK’s payout ratio is presently 26.97%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OZK. Morgan Stanley upped their price objective 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. Piper Sandler increased their target price on shares of Bank OZK from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Raymond James cut Bank OZK from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 17th. Stephens upped their target price on Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Finally, Truist Financial decreased their price objective on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company 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 given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $48.50.

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.