Renaissance Technologies LLC Has $24.18 Million Stock Position in Bank OZK (NASDAQ:OZK)

Renaissance Technologies LLC raised its holdings in shares of Bank OZK (NASDAQ:OZK) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 543,097 shares of the company’s stock after buying an additional 3,000 shares during the quarter. Renaissance Technologies LLC owned about 0.48% of Bank OZK worth $24,184,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Invesco Ltd. raised its stake in Bank OZK by 6.3% during the 4th quarter. Invesco Ltd. now owns 573,572 shares of the company’s stock valued at $25,541,000 after purchasing an additional 34,240 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Bank OZK by 0.5% during the 4th quarter. Bank of Montreal Can now owns 46,832 shares of the company’s stock worth $2,085,000 after purchasing an additional 241 shares during the period. Cerity Partners LLC raised its position in shares of Bank OZK by 17.2% during the fourth quarter. Cerity Partners LLC now owns 60,590 shares of the company’s stock valued at $2,688,000 after buying an additional 8,873 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Bank OZK by 47.6% in the fourth quarter. Federated Hermes Inc. now owns 10,927 shares of the company’s stock valued at $487,000 after buying an additional 3,526 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Bank OZK during the fourth quarter worth about $54,000. 86.18% of the stock is owned by institutional investors.

Bank OZK Stock Up 0.9 %

Shares of OZK opened at $37.97 on Friday. The company has a market capitalization of $4.31 billion, a P/E ratio of 6.18 and a beta of 1.05. Bank OZK has a one year low of $35.71 and a one year high of $53.64. The business’s 50 day simple moving average is $45.58 and its 200-day simple moving average is $45.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.03 and a quick ratio of 1.02.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings data on Thursday, January 16th. The company reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.12. The firm had revenue of $412.34 million during the quarter, compared to the consensus estimate of $407.19 million. Bank OZK had a return on equity of 13.90% and a net margin of 25.83%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 EPS. As a group, sell-side analysts predict that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 14th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, April 14th. This represents a $1.72 dividend on an annualized basis and a yield of 4.53%. This is a positive change from Bank OZK’s previous quarterly dividend of $0.42. Bank OZK’s dividend payout ratio is currently 28.01%.

Analyst Ratings Changes

A number of brokerages have commented on OZK. Stephens raised their price objective on Bank OZK from $53.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. UBS Group assumed coverage on Bank OZK in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $51.00 target price for the company. Wells Fargo & Company lowered their price target on shares of Bank OZK from $48.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Morgan Stanley reduced 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 report on Thursday, March 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $49.38.

About Bank OZK

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.