Citigroup Inc. Purchases 15,265 Shares of Bank OZK (NASDAQ:OZK)

Citigroup Inc. raised its position in Bank OZK (NASDAQ:OZK) by 5.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 290,787 shares of the company’s stock after acquiring an additional 15,265 shares during the quarter. Citigroup Inc. owned approximately 0.26% of Bank OZK worth $12,501,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. PSI Advisors LLC raised its holdings in Bank OZK by 20,933.3% in the 2nd quarter. PSI Advisors LLC now owns 631 shares of the company’s stock worth $26,000 after purchasing an additional 628 shares during the period. Versant Capital Management Inc lifted its position in shares of Bank OZK by 423.0% during the 2nd quarter. Versant Capital Management Inc now owns 978 shares of the company’s stock valued at $40,000 after buying an additional 791 shares in the last quarter. Assetmark Inc. increased its holdings in Bank OZK by 73.8% in the 3rd quarter. Assetmark Inc. now owns 968 shares of the company’s stock worth $42,000 after acquiring an additional 411 shares in the last quarter. American National Bank & Trust bought a new stake in Bank OZK during the 3rd quarter worth approximately $44,000. Finally, Innealta Capital LLC purchased a new position in Bank OZK during the second quarter valued at approximately $46,000. 86.18% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on OZK. Stephens lifted their target price on shares of Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Piper Sandler lifted their target price on Bank OZK from $58.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Raymond James downgraded Bank OZK from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. Morgan Stanley lifted their price objective on shares of Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Finally, Truist Financial dropped their target price 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 investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $48.50.

Bank OZK Stock Up 0.1 %

Shares of NASDAQ:OZK opened at $49.94 on Friday. The company has a market cap of $5.67 billion, a price-to-earnings ratio of 8.21 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. The company has a 50-day moving average price of $44.92 and a 200 day moving average price of $43.30.

Bank OZK (NASDAQ:OZK) last announced its earnings results on Thursday, October 17th. The company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.02. The firm had revenue of $423.00 million during 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%. As a group, equities research analysts predict that Bank OZK will post 6.03 earnings per share for the current year.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 11th were paid a dividend of $0.41 per share. The ex-dividend date was Friday, October 11th. This is a boost from Bank OZK’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.28%. Bank OZK’s payout ratio is currently 26.97%.

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.