Millennium Management LLC Trims Position in Bank OZK (NASDAQ:OZK)

Millennium Management LLC cut its position in Bank OZK (NASDAQ:OZK - Free Report) by 26.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 735,780 shares of the company's stock after selling 269,219 shares during the period. Millennium Management LLC owned about 0.65% of Bank OZK worth $32,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of OZK. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Bank OZK during the fourth quarter valued at $27,000. Kestra Investment Management LLC purchased a new position in Bank OZK during the fourth quarter valued at $27,000. Smartleaf Asset Management LLC grew its stake in Bank OZK by 176.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 761 shares of the company's stock valued at $34,000 after acquiring an additional 486 shares in the last quarter. V Square Quantitative Management LLC grew its stake in Bank OZK by 81.3% during the fourth quarter. V Square Quantitative Management LLC now owns 948 shares of the company's stock valued at $42,000 after acquiring an additional 425 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in Bank OZK during the fourth quarter valued at $54,000. 86.18% of the stock is owned by hedge funds and other institutional investors.

Bank OZK Stock Performance

Shares of NASDAQ:OZK opened at $46.93 on Monday. Bank OZK has a 52 week low of $35.71 and a 52 week high of $53.64. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $42.67 and a two-hundred day simple moving average of $45.89. The stock has a market capitalization of $5.32 billion, a P/E ratio of 7.64 and a beta of 0.85.

Bank OZK (NASDAQ:OZK - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The company reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.05. Bank OZK had a net margin of 25.83% and a return on equity of 13.90%. The firm had revenue of $409.23 million during the quarter, compared to analysts' expectations of $403.05 million. During the same period in the previous year, the company earned $1.51 EPS. On average, analysts expect that Bank OZK will post 6.02 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 14th were paid a dividend of $0.43 per share. The ex-dividend date was Monday, April 14th. This is a boost from Bank OZK's previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.67%. Bank OZK's payout ratio is currently 28.20%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on OZK. Wells Fargo & Company cut their target price on shares of Bank OZK from $48.00 to $40.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 9th. Keefe, Bruyette & Woods cut their target price on shares of Bank OZK from $50.00 to $48.00 and set a "market perform" rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley dropped their price objective on shares of Bank OZK from $58.00 to $54.00 and set an "equal weight" rating for the company in a research note on Thursday, March 13th. Finally, Stephens dropped their price objective on shares of Bank OZK from $59.00 to $54.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Bank OZK has an average rating of "Hold" and a consensus price target of $49.13.

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.

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