Mackenzie Financial Corp Trims Stake in Bank OZK (NASDAQ:OZK)

Key Points

• Mackenzie Financial Corp has reduced its stake in Bank OZK by 16.6% in the first quarter, selling 12,964 shares and now holding approximately 0.06% of the company's stock worth $2.84 million.
• Bank OZK recently increased its quarterly dividend to $0.44 per share, marking a boost from the previous dividend of $0.43, resulting in a 3.7% yield.
• The company reported earnings per share (EPS) of $1.58 for the last quarter, surpassing analysts' expectations of $1.51, with a revenue of $428.04 million.

Mackenzie Financial Corp trimmed its position in shares of Bank OZK (NASDAQ:OZK - Free Report) by 16.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 65,354 shares of the company's stock after selling 12,964 shares during the quarter. Mackenzie Financial Corp owned about 0.06% of Bank OZK worth $2,840,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. O Shaughnessy Asset Management LLC grew its holdings in shares of Bank OZK by 1.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 11,184 shares of the company's stock valued at $498,000 after buying an additional 193 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Bank OZK by 1.0% during the fourth quarter. Tidal Investments LLC now owns 21,575 shares of the company's stock worth $961,000 after purchasing an additional 205 shares during the period. Bank of Montreal Can boosted its position in Bank OZK by 0.5% in the fourth quarter. Bank of Montreal Can now owns 46,832 shares of the company's stock valued at $2,085,000 after buying an additional 241 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in Bank OZK by 1.0% in the 1st quarter. Louisiana State Employees Retirement System now owns 29,600 shares of the company's stock worth $1,286,000 after buying an additional 300 shares during the period. Finally, State of Alaska Department of Revenue raised its position in Bank OZK by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 12,359 shares of the company's stock worth $536,000 after buying an additional 330 shares during the last quarter. 86.18% of the stock is owned by hedge funds and other institutional investors.

Bank OZK Price Performance

Shares of OZK stock traded up $0.15 during trading hours on Monday, hitting $47.97. 1,059,640 shares of the company's stock were exchanged, compared to its average volume of 1,210,176. The firm has a 50 day moving average of $48.22 and a two-hundred day moving average of $46.49. Bank OZK has a fifty-two week low of $35.71 and a fifty-two week high of $53.64. The firm has a market cap of $5.46 billion, a P/E ratio of 7.79 and a beta of 0.86. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.23.

Bank OZK (NASDAQ:OZK - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.07. The business had revenue of $428.04 million for the quarter, compared to the consensus estimate of $423.41 million. Bank OZK had a net margin of 25.83% and a return on equity of 13.24%. During the same period last year, the firm posted $1.52 earnings per share. Sell-side analysts forecast that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Friday, July 11th were paid a $0.44 dividend. This is a boost from Bank OZK's previous quarterly dividend of $0.43. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, July 11th. Bank OZK's dividend payout ratio is presently 28.57%.

Analyst Upgrades and Downgrades

OZK has been the topic of a number of research reports. Stephens cut their price objective on shares of Bank OZK from $59.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Raymond James Financial raised Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 price target on the stock in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods decreased their price objective on Bank OZK from $50.00 to $48.00 and set a "market perform" rating for the company in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company raised their target price on Bank OZK from $48.00 to $49.00 and gave the stock an "equal weight" rating in a report on Monday, July 21st. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Bank OZK presently has an average rating of "Hold" and a consensus price target of $52.88.

Bank OZK 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.