Mackenzie Financial Corp Grows Stock Position in Bank OZK $OZK

Mackenzie Financial Corp grew its holdings in Bank OZK (NASDAQ:OZK) by 39.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 788,819 shares of the company’s stock after buying an additional 222,157 shares during the period. Mackenzie Financial Corp’s holdings in Bank OZK were worth $40,214,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Root Financial Partners LLC acquired a new position in shares of Bank OZK during the third quarter valued at about $27,000. Highline Wealth Partners LLC acquired a new stake in Bank OZK in the 3rd quarter worth approximately $28,000. True Wealth Design LLC boosted its stake in Bank OZK by 147.0% in the 3rd quarter. True Wealth Design LLC now owns 568 shares of the company’s stock worth $29,000 after purchasing an additional 338 shares in the last quarter. AdvisorNet Financial Inc grew its position in Bank OZK by 82.2% during the 3rd quarter. AdvisorNet Financial Inc now owns 665 shares of the company’s stock worth $34,000 after purchasing an additional 300 shares during the last quarter. Finally, Quent Capital LLC purchased a new stake in Bank OZK during the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Bank OZK Stock Performance

Shares of OZK stock opened at $43.84 on Friday. The company has a market capitalization of $4.90 billion, a P/E ratio of 7.11 and a beta of 0.93. The business’s 50 day moving average is $47.88 and its two-hundred day moving average is $48.16. The company has a current ratio of 1.02, a quick ratio of 1.03 and a debt-to-equity ratio of 0.08. Bank OZK has a 12-month low of $35.71 and a 12-month high of $53.66.

Bank OZK (NASDAQ:OZK) last posted its quarterly earnings data on Tuesday, January 20th. The company reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.03). The business had revenue of $436.29 million during the quarter, compared to analysts’ expectations of $434.68 million. Bank OZK had a net margin of 25.50% and a return on equity of 12.65%. During the same quarter last year, the firm earned $1.56 earnings per share. Analysts expect that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 20th. Investors of record on Tuesday, January 13th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Tuesday, January 13th. This is a boost from Bank OZK’s previous quarterly dividend of $0.45. Bank OZK’s payout ratio is presently 29.82%.

Analyst Upgrades and Downgrades

OZK has been the subject of a number of research analyst reports. Citigroup reaffirmed a “sell” rating on shares of Bank OZK in a report on Monday, January 5th. TD Cowen lowered their price target on shares of Bank OZK from $56.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, January 22nd. Stephens cut their price target on Bank OZK from $64.00 to $62.00 and set an “overweight” rating on the stock in a research report on Thursday, January 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Bank OZK in a report on Tuesday, January 27th. Finally, Piper Sandler set a $62.00 target price on Bank OZK in a research note on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Bank OZK currently has a consensus rating of “Hold” and a consensus target price of $57.22.

Bank OZK Profile

Bank OZK, formerly known as Bank of the Ozarks, is a regional commercial bank headquartered in Little Rock, Arkansas. Established in 1903, the bank offers a full suite of banking products and services to both individual and corporate clients. Through a combination of organic growth and targeted acquisitions, Bank OZK has built a diversified lending portfolio and a strong deposit franchise.

The bank’s core operations focus on commercial real estate lending, including acquisition, development and construction financing.