Pallas Capital Advisors LLC Boosts Stock Position in Bank OZK (NASDAQ:OZK)

Pallas Capital Advisors LLC increased its stake in shares of Bank OZK (NASDAQ:OZK) by 65.4% in the third quarter, HoldingsChannel reports. The firm owned 10,182 shares of the company’s stock after buying an additional 4,025 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Bank OZK were worth $452,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its stake in Bank OZK by 291.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,371,892 shares of the company’s stock worth $95,848,000 after buying an additional 1,765,974 shares during the last quarter. Van Berkom & Associates Inc. boosted its stake in Bank OZK by 2.0% in the 2nd quarter. Van Berkom & Associates Inc. now owns 2,024,130 shares of the company’s stock worth $82,989,000 after buying an additional 40,356 shares during the last quarter. American Century Companies Inc. boosted its stake in Bank OZK by 21.9% in the 2nd quarter. American Century Companies Inc. now owns 1,642,293 shares of the company’s stock worth $67,334,000 after buying an additional 295,298 shares during the last quarter. Millennium Management LLC boosted its stake 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 last quarter. Finally, Newport Trust Company LLC boosted its stake in Bank OZK by 2.0% in the 2nd quarter. Newport Trust Company LLC now owns 1,147,350 shares of the company’s stock worth $47,041,000 after buying an additional 22,819 shares during the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on OZK shares. 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 note on Monday, October 21st. Piper Sandler boosted their target price on Bank OZK from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. StockNews.com upgraded Bank OZK from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Morgan Stanley boosted 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, August 5th. Finally, Truist Financial decreased their target price on Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company 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 assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $48.50.

Bank OZK Stock Down 1.9 %

NASDAQ OZK opened at $43.75 on Friday. The stock has a market cap of $4.96 billion, a PE ratio of 7.30 and a beta of 1.17. Bank OZK has a fifty-two week low of $34.90 and a fifty-two week high of $52.36. The business has a 50 day moving average price of $42.64 and a two-hundred day moving average price of $43.02. 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 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 11th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date was Friday, October 11th. This is a boost from Bank OZK’s previous quarterly dividend of $0.40. Bank OZK’s dividend payout ratio is currently 26.97%.

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.