Comerica Bank Raises Position in Bank OZK (NASDAQ:OZK)

Posted by Defense World Staff on Apr 15th, 2023

Comerica Bank boosted its stake in Bank OZK (NASDAQ:OZK – Get Rating) by 63.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,899 shares of the company’s stock after buying an additional 35,186 shares during the period. Comerica Bank owned 0.07% of Bank OZK worth $3,782,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp raised its stake in Bank OZK by 3.6% during the 3rd quarter. State Street Corp now owns 12,694,232 shares of the company’s stock valued at $502,184,000 after buying an additional 442,288 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Bank OZK by 2.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,697,247 shares of the company’s stock valued at $264,943,000 after purchasing an additional 187,381 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Bank OZK by 6.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,565,671 shares of the company’s stock valued at $109,555,000 after purchasing an additional 156,127 shares during the last quarter. Jarislowsky Fraser Ltd boosted its holdings in shares of Bank OZK by 11.8% during the 3rd quarter. Jarislowsky Fraser Ltd now owns 2,102,579 shares of the company’s stock valued at $83,178,000 after purchasing an additional 221,230 shares during the last quarter. Finally, Copeland Capital Management LLC raised its position in shares of Bank OZK by 15.0% during the 4th quarter. Copeland Capital Management LLC now owns 1,803,267 shares of the company’s stock valued at $72,239,000 after buying an additional 235,072 shares in the last quarter. 76.17% of the stock is owned by institutional investors.

Bank OZK Price Performance

Shares of OZK opened at $33.69 on Friday. The company has a market cap of $4.23 billion, a price-to-earnings ratio of 7.42 and a beta of 1.37. Bank OZK has a twelve month low of $31.48 and a twelve month high of $49.52. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.25. The company has a 50 day moving average of $39.96 and a two-hundred day moving average of $41.77.

Bank OZK (NASDAQ:OZK – Get Rating) last posted its quarterly earnings data on Thursday, January 19th. The company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.33 by $0.01. Bank OZK had a net margin of 40.86% and a return on equity of 13.13%. The business had revenue of $360.03 million during the quarter, compared to the consensus estimate of $338.35 million. As a group, analysts predict that Bank OZK will post 5.64 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 21st. Stockholders of record on Friday, April 14th will be paid a dividend of $0.35 per share. This is an increase from Bank OZK’s previous quarterly dividend of $0.34. This represents a $1.40 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Thursday, April 13th. Bank OZK’s payout ratio is presently 29.96%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on OZK. Morgan Stanley decreased their target price on shares of Bank OZK from $51.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 5th. Truist Financial decreased their target price on shares of Bank OZK from $50.00 to $40.00 and set a “hold” rating on the stock in a research report on Thursday, March 23rd. Wells Fargo & Company reduced their price objective on shares of Bank OZK from $45.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 5th. StockNews.com lowered shares of Bank OZK from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, UBS Group raised shares of Bank OZK from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $48.00 to $47.00 in a research report on Wednesday, March 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $43.67.

Bank OZK Company Profile

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Bank OZK engages in the provision of community banking services. The firm offers deposit services such as checking, savings, money market, time deposit, and individual retirement accounts. It also provides loan services including types of real estate, consumer, commercial, industrial, and agricultural loans.