Renaissance Technologies LLC lessened its holdings in shares of Bank OZK (NASDAQ:OZK - Free Report) by 42.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 211,297 shares of the company's stock after selling 159,000 shares during the quarter. Renaissance Technologies LLC owned about 0.19% of Bank OZK worth $8,663,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Quantbot Technologies LP lifted its stake in shares of Bank OZK by 55.3% in the 2nd quarter. Quantbot Technologies LP now owns 188,867 shares of the company's stock worth $7,744,000 after acquiring an additional 67,291 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Bank OZK during the second quarter worth approximately $2,097,000. WINTON GROUP Ltd acquired a new stake in Bank OZK in the second quarter worth approximately $271,000. Oppenheimer Asset Management Inc. boosted its stake in Bank OZK by 48.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 49,145 shares of the company's stock valued at $2,015,000 after purchasing an additional 15,936 shares in the last quarter. Finally, Vest Financial LLC increased its position in shares of Bank OZK by 46.5% during the 2nd quarter. Vest Financial LLC now owns 28,364 shares of the company's stock valued at $1,163,000 after purchasing an additional 9,006 shares during the period. Institutional investors own 86.18% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on the company. StockNews.com raised Bank OZK from a "sell" rating to a "hold" rating in a research note on Thursday, July 18th. Stephens restated an "equal weight" rating and set a $50.00 price objective on shares of Bank OZK in a research report on Thursday, July 18th. Truist Financial lowered their price objective on shares of Bank OZK from $49.00 to $48.00 and set a "hold" rating on the stock in a research note on Friday, September 20th. Raymond James lowered shares of Bank OZK from an "outperform" rating to a "market perform" rating in a research note on Tuesday, September 17th. Finally, Morgan Stanley lifted their price target 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. Two analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, Bank OZK has a consensus rating of "Hold" and a consensus target price of $46.57.
Check Out Our Latest Report on Bank OZK
Bank OZK Trading Down 2.6 %
NASDAQ OZK traded down $1.07 on Wednesday, hitting $40.66. 1,262,770 shares of the stock were exchanged, compared to its average volume of 1,277,197. The company's 50-day moving average price is $42.63 and its two-hundred day moving average price is $43.11. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.02 and a quick ratio of 1.02. Bank OZK has a 52-week low of $34.76 and a 52-week high of $52.36. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 6.81 and a beta of 1.17.
Bank OZK (NASDAQ:OZK - Get Free Report) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $1.52 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.52. Bank OZK had a return on equity of 14.50% and a net margin of 27.04%. The firm had revenue of $416.78 million during the quarter, compared to the consensus estimate of $414.39 million. During the same period in the prior year, the business earned $1.47 EPS. The business's revenue for the quarter was up 7.2% on a year-over-year basis. Research analysts predict that Bank OZK will post 5.98 EPS for the current year.
Bank OZK Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 12th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.94%. This is a positive change from Bank OZK's previous quarterly dividend of $0.39. Bank OZK's dividend payout ratio (DPR) is 26.80%.
Bank OZK Profile
(Free Report)
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.
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