Tower Research Capital LLC TRC Decreases Stock Position in Bank OZK (NASDAQ:OZK)

Posted by Defense World Staff on Mar 4th, 2023

Tower Research Capital LLC TRC cut its position in Bank OZK (NASDAQ:OZK – Get Rating) by 28.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,475 shares of the company’s stock after selling 2,637 shares during the period. Tower Research Capital LLC TRC’s holdings in Bank OZK were worth $256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. SeaCrest Wealth Management LLC acquired a new position in Bank OZK in the 2nd quarter valued at about $150,000. Boston Partners grew its position in Bank OZK by 1.6% in the third quarter. Boston Partners now owns 30,277 shares of the company’s stock worth $1,198,000 after acquiring an additional 476 shares during the period. AQR Capital Management LLC grew its holdings in shares of Bank OZK by 75.5% during the 2nd quarter. AQR Capital Management LLC now owns 548,600 shares of the company’s stock worth $20,040,000 after purchasing an additional 236,021 shares during the period. SVB Wealth LLC acquired a new stake in shares of Bank OZK during the 3rd quarter worth about $501,000. Finally, Kovitz Investment Group Partners LLC raised its holdings in Bank OZK by 0.4% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 121,944 shares of the company’s stock valued at $4,824,000 after buying an additional 546 shares during the period. 76.17% of the stock is currently owned by hedge funds and other institutional investors.

Bank OZK Trading Up 0.9 %

NASDAQ:OZK opened at $44.06 on Friday. Bank OZK has a 12-month low of $34.79 and a 12-month high of $49.52. The firm has a market cap of $5.53 billion, a PE ratio of 9.70 and a beta of 1.42. The company has a current ratio of 1.00, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The stock has a fifty day moving average price of $43.86 and a 200 day moving average price of $42.95.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 24th. Stockholders of record on Tuesday, January 17th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.09%. The ex-dividend date was Friday, January 13th. This is a boost from Bank OZK’s previous quarterly dividend of $0.33. Bank OZK’s dividend payout ratio (DPR) is presently 29.96%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on OZK shares. Truist Financial increased their target price on shares of Bank OZK from $45.00 to $50.00 and gave the stock a “hold” rating in a research note on Monday, January 23rd. Morgan Stanley lifted their target price on shares of Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, January 23rd. UBS Group upped their price target on Bank OZK to $48.00 in a research note on Wednesday, November 16th. Finally, Keefe, Bruyette & Woods dropped their price objective on Bank OZK from $45.00 to $40.00 and set a “market perform” rating for the company in a research note on Wednesday, January 4th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $47.56.

Bank OZK Company Profile

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Bank OZK engages in the provision of community banking services. The firm offers deposit services such as checking, savings, money market, time deposit, and individual retirement accounts. It also provides loan services including types of real estate, consumer, commercial, industrial, and agricultural loans.