Congress Asset Management Co. Cuts Stake in Bank OZK (NASDAQ:OZK)

Congress Asset Management Co. lessened its holdings in Bank OZK (NASDAQ:OZK) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,659 shares of the company’s stock after selling 450 shares during the period. Congress Asset Management Co. owned approximately 0.05% of Bank OZK worth $2,565,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Tidal Investments LLC grew its position in shares of Bank OZK by 4.0% during the first quarter. Tidal Investments LLC now owns 5,491 shares of the company’s stock worth $250,000 after buying an additional 210 shares in the last quarter. Evergreen Capital Management LLC increased its position in shares of Bank OZK by 8.3% in the 2nd quarter. Evergreen Capital Management LLC now owns 5,079 shares of the company’s stock valued at $208,000 after purchasing an additional 388 shares during the last quarter. Naples Global Advisors LLC raised its holdings in shares of Bank OZK by 2.5% in the 2nd quarter. Naples Global Advisors LLC now owns 16,550 shares of the company’s stock valued at $679,000 after purchasing an additional 400 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Bank OZK by 0.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 82,134 shares of the company’s stock worth $3,733,000 after purchasing an additional 409 shares during the last quarter. Finally, BTC Capital Management Inc. grew its stake in shares of Bank OZK by 2.5% during the second quarter. BTC Capital Management Inc. now owns 22,504 shares of the company’s stock worth $923,000 after purchasing an additional 559 shares in the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Bank OZK Stock Up 0.2 %

Shares of NASDAQ:OZK opened at $43.84 on Friday. Bank OZK has a 1-year low of $36.14 and a 1-year high of $52.36. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market cap of $4.97 billion, a P/E ratio of 7.21 and a beta of 1.17. The firm has a fifty day moving average price of $42.68 and a 200 day moving average price of $43.02.

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Friday, October 11th were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.74%. This is a positive change from Bank OZK’s previous quarterly dividend of $0.40. Bank OZK’s dividend payout ratio (DPR) is currently 26.97%.

Analysts Set New Price Targets

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

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.