Mackenzie Financial Corp Raises Stock Position in Bank OZK $OZK

Key Points

• Mackenzie Financial Corp boosted its stake in Bank OZK by 39.2% in Q3 to 788,819 shares (about 0.69% of the company) worth roughly $40.2 million, while institutional investors now own 86.18% of the stock and other buyers like JPMorgan and Nomura also increased positions.
• Bank OZK reported Q4 EPS of $1.53 (missing estimates by $0.03) with revenue of $436.3 million, and trades around $43.84 with a market cap near $4.9 billion and a P/E of 7.11.
• The board raised the quarterly dividend to $0.46 (annualized $1.84, yield ~4.2%), and analyst coverage is mixed with a consensus rating of Hold and a $57.22 average price target.

Mackenzie Financial Corp grew its stake in shares of Bank OZK (NASDAQ:OZK - Free Report) by 39.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 788,819 shares of the company's stock after acquiring an additional 222,157 shares during the period. Mackenzie Financial Corp owned about 0.69% of Bank OZK worth $40,214,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Allianz Asset Management GmbH purchased a new position in shares of Bank OZK during the third quarter valued at $2,026,000. Hussman Strategic Advisors Inc. purchased a new stake in Bank OZK in the third quarter worth about $2,141,000. Dynamic Technology Lab Private Ltd purchased a new stake in Bank OZK in the third quarter worth about $1,301,000. Nomura Holdings Inc. grew its holdings in Bank OZK by 160.6% during the 2nd quarter. Nomura Holdings Inc. now owns 107,000 shares of the company's stock worth $5,035,000 after acquiring an additional 65,946 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Bank OZK by 21.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 285,876 shares of the company's stock worth $14,574,000 after acquiring an additional 51,171 shares in the last quarter. Hedge funds and other institutional investors own 86.18% of the company's stock.

Bank OZK Stock Down 0.2%

Shares of Bank OZK stock opened at $43.84 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.02 and a debt-to-equity ratio of 0.08. The company has a market cap of $4.90 billion, a P/E ratio of 7.11 and a beta of 0.93. The firm's 50 day moving average price is $47.88 and its 200-day moving average price is $48.16. Bank OZK has a 52-week low of $35.71 and a 52-week high of $53.66.

Bank OZK (NASDAQ:OZK - Get Free Report) last posted its earnings results on Tuesday, January 20th. The company reported $1.53 EPS for the quarter, missing analysts' consensus estimates of $1.56 by ($0.03). The firm had revenue of $436.29 million for 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 period in the previous year, the company earned $1.56 EPS. On average, sell-side analysts predict that Bank OZK will post 6.02 EPS for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 20th. Stockholders of record on Tuesday, January 13th were issued a dividend of $0.46 per share. The ex-dividend date was Tuesday, January 13th. This represents a $1.84 annualized dividend and a dividend yield of 4.2%. This is a boost from Bank OZK's previous quarterly dividend of $0.45. Bank OZK's dividend payout ratio (DPR) is currently 29.82%.

Analysts Set New Price Targets

OZK has been the subject of several recent research reports. Citigroup restated a "sell" rating on shares of Bank OZK in a report on Monday, January 5th. Piper Sandler set a $62.00 price objective on shares of Bank OZK in a research note on Thursday, January 22nd. Wall Street Zen raised shares of Bank OZK from a "sell" rating to a "hold" rating in a report on Saturday, January 3rd. UBS Group reissued a "neutral" rating and issued a $51.00 price objective on shares of Bank OZK in a research note on Tuesday, January 6th. Finally, Zacks Research upgraded Bank OZK from a "strong sell" rating to a "hold" rating in a report on Wednesday, January 7th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Bank OZK currently has an average rating of "Hold" and a consensus target price of $57.22.

Bank OZK Company 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.

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