Charles Schwab Investment Management Inc. Boosts Stock Position in Bank OZK (NASDAQ:OZK)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Bank OZK (NASDAQ:OZK) by 2.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,941,431 shares of the company’s stock after purchasing an additional 112,648 shares during the period. Charles Schwab Investment Management Inc. owned about 3.47% of Bank OZK worth $169,442,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. AQR Capital Management LLC raised its holdings 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 purchasing an additional 1,765,974 shares in the last quarter. Van Berkom & Associates Inc. raised its stake 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 buying an additional 40,356 shares in the last quarter. American Century Companies Inc. lifted 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 buying an additional 295,298 shares during the period. Millennium Management LLC boosted its position in Bank OZK by 196.4% during the 2nd quarter. Millennium Management LLC now owns 1,365,393 shares of the company’s stock valued at $55,981,000 after acquiring an additional 904,782 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Bank OZK by 34.8% during the 3rd quarter. Victory Capital Management Inc. now owns 1,321,436 shares of the company’s stock worth $56,809,000 after acquiring an additional 341,078 shares during the period. Institutional investors own 86.18% of the company’s stock.

Bank OZK Stock Up 2.0 %

Shares of Bank OZK stock opened at $49.33 on Monday. The company has a 50-day simple moving average of $44.45 and a two-hundred day simple moving average of $43.25. Bank OZK has a 52-week low of $37.43 and a 52-week high of $52.36. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $5.60 billion, a PE ratio of 8.11 and a beta of 1.16.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings data on Thursday, October 17th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.02. Bank OZK had a return on equity of 14.15% and a net margin of 26.07%. The business had revenue of $423.00 million for the quarter, compared to analysts’ expectations of $419.08 million. On average, analysts anticipate that Bank OZK will post 6.03 EPS for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 11th were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Friday, October 11th. This is a boost from Bank OZK’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 3.32%. Bank OZK’s dividend payout ratio (DPR) is 26.97%.

Analyst Upgrades and Downgrades

OZK has been the subject of a number of research analyst reports. Raymond James cut Bank OZK from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. Truist Financial dropped their target price on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating on the stock in a report on Monday, October 21st. Stephens upped their target price 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, October 21st. Morgan Stanley boosted their price objective on shares of Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Finally, 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 research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.