Freedom Investment Management Inc. Sells 1,237 Shares of Bank OZK (NASDAQ:OZK)

Freedom Investment Management Inc. lessened its position in shares of Bank OZK (NASDAQ:OZK) by 17.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,952 shares of the company’s stock after selling 1,237 shares during the period. Freedom Investment Management Inc.’s holdings in Bank OZK were worth $256,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in OZK. Charles Schwab Investment Management Inc. boosted its holdings in shares of Bank OZK by 2.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,941,431 shares of the company’s stock valued at $169,442,000 after purchasing an additional 112,648 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Bank OZK by 291.5% in the second quarter. AQR Capital Management LLC now owns 2,371,892 shares of the company’s stock worth $95,848,000 after acquiring an additional 1,765,974 shares during the last quarter. Van Berkom & Associates Inc. boosted its stake in shares of Bank OZK by 2.0% in the 2nd quarter. Van Berkom & Associates Inc. now owns 2,024,130 shares of the company’s stock valued at $82,989,000 after purchasing an additional 40,356 shares in the last quarter. American Century Companies Inc. boosted its position 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 valued at $67,334,000 after buying an additional 295,298 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Bank OZK by 196.4% during the second 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. Institutional investors and hedge funds own 86.18% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Truist Financial dropped their target price on Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company in a research report on Monday, October 21st. Stephens upped 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. Morgan Stanley increased 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 note on Monday, August 5th. Piper Sandler upped their price objective on shares of Bank OZK from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, Raymond James lowered shares of Bank OZK from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Bank OZK currently has a consensus rating of “Hold” and a consensus price target of $48.50.

Bank OZK Price Performance

Shares of OZK opened at $49.97 on Monday. The stock has a market capitalization of $5.67 billion, a PE ratio of 8.22 and a beta of 1.16. The company has a 50 day moving average price of $45.19 and a 200-day moving average price of $43.28. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. Bank OZK has a fifty-two week low of $37.43 and a fifty-two week high of $52.36.

Bank OZK (NASDAQ:OZK) last posted its earnings results on Thursday, October 17th. The company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.02. Bank OZK had a return on equity of 14.15% and a net margin of 26.07%. The company had revenue of $423.00 million during the quarter, compared to analyst estimates of $419.08 million. Equities analysts predict that Bank OZK will post 6.03 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 11th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend was Friday, October 11th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.40. Bank OZK’s payout ratio is 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.