Pathway Financial Advisers LLC Grows Holdings in Bank OZK (NASDAQ:OZK)

Pathway Financial Advisers LLC grew its stake in shares of Bank OZK (NASDAQ:OZK) by 4,233.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,455 shares of the company’s stock after purchasing an additional 56,129 shares during the quarter. Pathway Financial Advisers LLC owned approximately 0.05% of Bank OZK worth $2,470,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC increased its holdings in Bank OZK by 291.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,371,892 shares of the company’s stock worth $95,848,000 after purchasing an additional 1,765,974 shares during the period. Van Berkom & Associates Inc. increased its stake in shares of Bank OZK by 2.0% during the second quarter. Van Berkom & Associates Inc. now owns 2,024,130 shares of the company’s stock valued at $82,989,000 after buying an additional 40,356 shares during the period. American Century Companies Inc. raised its holdings in shares of Bank OZK by 21.9% in the second quarter. American Century Companies Inc. now owns 1,642,293 shares of the company’s stock valued at $67,334,000 after acquiring an additional 295,298 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Bank OZK by 196.4% in the second quarter. Millennium Management LLC now owns 1,365,393 shares of the company’s stock valued at $55,981,000 after acquiring an additional 904,782 shares in the last quarter. Finally, Newport Trust Company LLC grew its holdings in Bank OZK by 2.0% during the 2nd quarter. Newport Trust Company LLC now owns 1,147,350 shares of the company’s stock worth $47,041,000 after acquiring an additional 22,819 shares in the last quarter. 86.18% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Truist Financial lowered their price target on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company in a research report on Monday, October 21st. StockNews.com upgraded Bank OZK from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Stephens lifted their price target on Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, October 21st. Piper Sandler upped their price objective on Bank OZK from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, Morgan Stanley lifted their target price on Bank OZK from $48.00 to $51.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Bank OZK has a consensus rating of “Hold” and an average price target of $48.50.

Bank OZK Stock Performance

Shares of OZK traded down $0.83 during trading hours on Friday, reaching $43.56. 1,203,067 shares of the company traded hands, compared to its average volume of 1,276,421. The stock has a market capitalization of $4.94 billion, a P/E ratio of 7.30 and a beta of 1.17. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12. The business has a fifty day moving average price of $42.48 and a 200-day moving average price of $43.00. Bank OZK has a 12-month low of $34.81 and a 12-month high of $52.36.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 11th were issued a $0.41 dividend. The ex-dividend date was Friday, October 11th. This is a positive change from Bank OZK’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.76%. Bank OZK’s dividend payout ratio is currently 27.47%.

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.