Park Avenue Securities LLC Invests $422,000 in Bank OZK $OZK

Key Points

• Park Avenue Securities LLC invested approximately $422,000 to acquire 8,959 shares of Bank OZK during the second quarter.
• In the first quarter, several other institutional investors, including Nuveen LLC and GAMMA Investing LLC, made significant investments or increased their holdings in Bank OZK, leading to institutional investors owning 86.18% of the company's stock.
• Bank OZK reported strong quarterly earnings, with an earnings per share of $1.58, surpassing analysts' expectations, and has received upgraded ratings and target prices from multiple brokerages.

Park Avenue Securities LLC acquired a new stake in shares of Bank OZK (NASDAQ:OZK - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 8,959 shares of the company's stock, valued at approximately $422,000.

Other institutional investors have also recently made changes to their positions in the company. Nuveen LLC purchased a new stake in Bank OZK during the 1st quarter worth approximately $14,197,000. Earnest Partners LLC acquired a new stake in shares of Bank OZK during the first quarter worth $12,696,000. Lord Abbett & CO. LLC purchased a new stake in shares of Bank OZK during the first quarter valued at $11,297,000. GAMMA Investing LLC increased its position in shares of Bank OZK by 5,021.2% in the 1st quarter. GAMMA Investing LLC now owns 243,668 shares of the company's stock valued at $10,587,000 after acquiring an additional 238,910 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Bank OZK by 10.5% in the 1st quarter. American Century Companies Inc. now owns 2,405,292 shares of the company's stock valued at $104,510,000 after acquiring an additional 228,295 shares during the period. Institutional investors and hedge funds own 86.18% of the company's stock.

Bank OZK Stock Down 1.5%

OZK opened at $51.21 on Tuesday. Bank OZK has a fifty-two week low of $35.71 and a fifty-two week high of $53.66. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.04 and a current ratio of 1.04. The company has a fifty day moving average of $51.05 and a two-hundred day moving average of $47.08. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 8.31 and a beta of 0.92.

Bank OZK (NASDAQ:OZK - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.51 by $0.07. Bank OZK had a net margin of 25.83% and a return on equity of 13.24%. The company had revenue of $428.04 million during the quarter, compared to analysts' expectations of $423.41 million. During the same quarter in the previous year, the company earned $1.52 earnings per share. On average, research analysts expect that Bank OZK will post 6.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on OZK. Raymond James Financial raised Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 price target for the company in a research report on Tuesday, July 8th. Stephens raised Bank OZK from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $58.00 to $65.00 in a report on Wednesday, August 20th. Wells Fargo & Company upped their target price on Bank OZK from $49.00 to $50.00 and gave the company an "equal weight" rating in a research report on Monday. TD Cowen initiated coverage on shares of Bank OZK in a research report on Thursday, September 25th. They set a "buy" rating and a $67.00 price target for the company. Finally, National Bankshares set a $67.00 price objective on shares of Bank OZK in a report on Wednesday, September 24th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $57.80.

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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