Alpha DNA Investment Management LLC Takes Position in Bank OZK (NASDAQ:OZK)

Alpha DNA Investment Management LLC purchased a new position in shares of Bank OZK (NASDAQ:OZK) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 12,314 shares of the company’s stock, valued at approximately $529,000.

A number of other hedge funds have also bought and sold shares of OZK. Charles Schwab Investment Management Inc. lifted its holdings in 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 worth $169,442,000 after buying an additional 112,648 shares during the last quarter. AQR Capital Management LLC lifted its stake in Bank OZK by 291.5% during 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 last quarter. Van Berkom & Associates Inc. boosted its holdings in Bank OZK by 2.0% in the second quarter. Van Berkom & Associates Inc. now owns 2,024,130 shares of the company’s stock worth $82,989,000 after purchasing an additional 40,356 shares during the period. American Century Companies Inc. boosted its holdings in Bank OZK by 21.9% in the second quarter. American Century Companies Inc. now owns 1,642,293 shares of the company’s stock worth $67,334,000 after purchasing an additional 295,298 shares during the period. Finally, Millennium Management LLC increased its stake in Bank OZK by 196.4% during the second quarter. Millennium Management LLC now owns 1,365,393 shares of the company’s stock valued at $55,981,000 after purchasing an additional 904,782 shares during the last quarter. 86.18% of the stock is currently owned by institutional investors and hedge funds.

Bank OZK Stock Performance

Shares of OZK opened at $49.33 on Friday. The firm has a market capitalization of $5.60 billion, a PE ratio of 8.11 and a beta of 1.16. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $44.45 and a 200 day moving average price of $43.27. Bank OZK has a 52-week low of $37.43 and a 52-week high of $52.36.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings data on Thursday, October 17th. The company reported $1.55 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 analyst estimates of $419.08 million. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. On average, sell-side analysts anticipate that Bank OZK will post 6.03 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 11th were issued a $0.41 dividend. This is a positive change from Bank OZK’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, October 11th. This represents a $1.64 annualized dividend and a dividend yield of 3.32%. Bank OZK’s dividend payout ratio is 26.97%.

Analyst Upgrades and Downgrades

OZK has been the subject of several research reports. Raymond James lowered shares of Bank OZK from an “outperform” rating to a “market perform” rating in a 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 report 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 report on Monday, October 21st. Truist Financial lowered their price objective on Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company in a research note on Monday, October 21st. Finally, Piper Sandler boosted their price target 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $48.50.

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.