M&T Bank Corp Reduces Holdings in Bank OZK (NASDAQ:OZK)

M&T Bank Corp decreased its position in shares of Bank OZK (NASDAQ:OZK) by 4.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,033 shares of the company’s stock after selling 614 shares during the period. M&T Bank Corp’s holdings in Bank OZK were worth $523,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CX Institutional bought a new position in Bank OZK during the 1st quarter valued at $30,000. Bruce G. Allen Investments LLC boosted its stake in Bank OZK by 4,828.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 1,035 shares of the company’s stock valued at $45,000 after acquiring an additional 1,014 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in Bank OZK during the 4th quarter valued at $54,000. UMB Bank n.a. boosted its stake in Bank OZK by 2,014.3% during the 1st quarter. UMB Bank n.a. now owns 1,480 shares of the company’s stock valued at $64,000 after acquiring an additional 1,410 shares during the last quarter. Finally, Whipplewood Advisors LLC boosted its stake in Bank OZK by 1,052.0% during the 1st quarter. Whipplewood Advisors LLC now owns 1,993 shares of the company’s stock valued at $87,000 after acquiring an additional 1,820 shares during the last quarter. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Raymond James Financial upgraded shares of Bank OZK from a “market perform” rating to an “outperform” rating and set a $58.00 price objective on the stock in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods reduced their price objective on shares of Bank OZK from $50.00 to $48.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company boosted their target price on shares of Bank OZK from $40.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, July 10th. Finally, Stephens lowered their target price on shares of Bank OZK from $59.00 to $54.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Bank OZK presently has a consensus rating of “Hold” and an average price target of $52.75.

Bank OZK Stock Performance

OZK stock opened at $51.17 on Thursday. The stock’s fifty day moving average is $46.89 and its two-hundred day moving average is $45.87. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 8.39 and a beta of 0.85. Bank OZK has a 1 year low of $35.71 and a 1 year high of $53.64.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings results on Wednesday, April 16th. The company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.05. Bank OZK had a return on equity of 13.46% and a net margin of 25.66%. The company had revenue of $409.23 million during the quarter, compared to analysts’ expectations of $403.05 million. During the same quarter in the prior year, the business posted $1.51 earnings per share. On average, research analysts predict that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Friday, July 11th will be paid a $0.44 dividend. This is a boost from Bank OZK’s previous quarterly dividend of $0.43. The ex-dividend date is Friday, July 11th. This represents a $1.76 annualized dividend and a dividend yield of 3.44%. Bank OZK’s dividend payout ratio is presently 28.85%.

Bank OZK Company 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.