Bank OZK (NASDAQ:OZK) Shares Sold by Mackenzie Financial Corp

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 decreased its holdings in Bank OZK (NASDAQ:OZK - Free Report) by 16.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,354 shares of the company's stock after selling 12,964 shares during the period. Mackenzie Financial Corp owned 0.06% of Bank OZK worth $2,840,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OZK. CX Institutional purchased a new position in shares of Bank OZK during the first quarter worth approximately $30,000. Bruce G. Allen Investments LLC increased its holdings in Bank OZK by 4,828.6% during the first quarter. Bruce G. Allen Investments LLC now owns 1,035 shares of the company's stock valued at $45,000 after buying an additional 1,014 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in Bank OZK during the fourth quarter valued at approximately $54,000. UMB Bank n.a. increased its holdings in Bank OZK by 2,014.3% during the first quarter. UMB Bank n.a. now owns 1,480 shares of the company's stock valued at $64,000 after buying an additional 1,410 shares during the period. Finally, Whipplewood Advisors LLC increased its holdings in Bank OZK by 1,052.0% during the first quarter. Whipplewood Advisors LLC now owns 1,993 shares of the company's stock valued at $87,000 after buying an additional 1,820 shares during the period. 86.18% of the stock is owned by hedge funds and other institutional investors.

Bank OZK Price Performance

Shares of Bank OZK stock traded down $0.64 during trading hours on Wednesday, reaching $48.05. The stock had a trading volume of 391,588 shares, compared to its average volume of 1,207,281. The firm has a market capitalization of $5.46 billion, a PE ratio of 7.81 and a beta of 0.86. The stock's 50 day moving average is $48.29 and its 200 day moving average is $46.51. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.23. Bank OZK has a twelve month low of $35.71 and a twelve month high of $53.64.

Bank OZK (NASDAQ:OZK - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.51 by $0.07. The business had revenue of $428.04 million during the quarter, compared to analysts' expectations of $423.41 million. Bank OZK had a net margin of 25.83% and a return on equity of 13.24%. During the same quarter in the previous year, the company earned $1.52 earnings per share. Equities analysts expect that Bank OZK will post 6.02 earnings per share for the current fiscal 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 positive change from Bank OZK's previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.76 annualized dividend and a dividend yield of 3.7%. Bank OZK's dividend payout ratio is currently 28.57%.

Analyst Ratings Changes

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

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.