M&T Bank Corp Raises Stock Position in Bank OZK (NASDAQ:OZK)

M&T Bank Corp raised its holdings in Bank OZK (NASDAQ:OZK) by 1.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,432 shares of the company’s stock after purchasing an additional 244 shares during the quarter. M&T Bank Corp’s holdings in Bank OZK were worth $578,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. PSI Advisors LLC lifted its position in shares of Bank OZK by 20,933.3% in the second quarter. PSI Advisors LLC now owns 631 shares of the company’s stock valued at $26,000 after acquiring an additional 628 shares in the last quarter. Assetmark Inc. boosted its stake in Bank OZK by 73.8% during the 3rd quarter. Assetmark Inc. now owns 968 shares of the company’s stock worth $42,000 after purchasing an additional 411 shares during the last quarter. American National Bank & Trust purchased a new stake in shares of Bank OZK during the third quarter worth $44,000. Innealta Capital LLC acquired a new stake in shares of Bank OZK in the second quarter valued at about $46,000. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of Bank OZK in the second quarter worth about $49,000. 86.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Stephens lifted their price target on Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, October 21st. Truist Financial lowered their price objective on shares of Bank OZK from $48.00 to $46.00 and set a “hold” rating for the company in a research report on Monday, October 21st. UBS Group assumed coverage on Bank OZK in a research report on Tuesday. They issued a “neutral” rating and a $51.00 target price for the company. Wells Fargo & Company increased their target price on shares of Bank OZK from $35.00 to $40.00 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. Finally, Piper Sandler upped their price objective on Bank OZK from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $49.33.

Bank OZK Stock Down 2.7 %

OZK opened at $46.42 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. Bank OZK has a 12 month low of $37.43 and a 12 month high of $51.50. The stock has a market capitalization of $5.27 billion, a P/E ratio of 7.65 and a beta of 1.18. The business has a 50 day simple moving average of $46.44 and a 200-day simple moving average of $43.40.

Bank OZK (NASDAQ:OZK) last issued its earnings results on Thursday, October 17th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.53 by $0.02. Bank OZK had a net margin of 26.07% and a return on equity of 14.15%. The company had revenue of $423.00 million for the quarter, compared to analyst estimates of $419.08 million. On average, equities analysts anticipate that Bank OZK will post 6.03 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 11th were issued a $0.41 dividend. The ex-dividend date was Friday, October 11th. This is a boost from Bank OZK’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 3.53%. Bank OZK’s dividend payout ratio (DPR) is 26.97%.

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.