M&T Bank Corp Has $563,000 Stock Holdings in Bank OZK (NASDAQ:OZK)

M&T Bank Corp trimmed its position in Bank OZK (NASDAQ:OZK) by 5.8% in the fourth quarter, Holdings Channel reports. The fund owned 12,647 shares of the company’s stock after selling 785 shares during the quarter. M&T Bank Corp’s holdings in Bank OZK were worth $563,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Kestra Investment Management LLC bought a new position in shares of Bank OZK in the 4th quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Bank OZK during the 4th quarter worth $27,000. Smartleaf Asset Management LLC raised its position in Bank OZK by 176.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 761 shares of the company’s stock worth $34,000 after purchasing an additional 486 shares during the last quarter. V Square Quantitative Management LLC raised its position in Bank OZK by 81.3% during the 4th quarter. V Square Quantitative Management LLC now owns 948 shares of the company’s stock worth $42,000 after purchasing an additional 425 shares during the last quarter. Finally, Assetmark Inc. raised its position 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. 86.18% of the stock is currently owned by institutional investors.

Bank OZK Stock Performance

Shares of Bank OZK stock opened at $43.89 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $48.12 and a two-hundred day moving average price of $45.89. Bank OZK has a 1-year low of $37.43 and a 1-year high of $53.64. The company has a market cap of $4.98 billion, a P/E ratio of 7.15 and a beta of 1.23.

Bank OZK (NASDAQ:OZK) last issued its earnings results on Thursday, January 16th. The company reported $1.56 EPS for the quarter, beating the consensus estimate of $1.44 by $0.12. The company had revenue of $412.34 million during the quarter, compared to the consensus estimate of $407.19 million. Bank OZK had a return on equity of 13.90% and a net margin of 25.83%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $1.50 EPS. As a group, analysts anticipate that Bank OZK will post 6.02 EPS for the current year.

Bank OZK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 14th were paid a $0.42 dividend. The ex-dividend date was Tuesday, January 14th. This is an increase from Bank OZK’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a dividend yield of 3.83%. Bank OZK’s dividend payout ratio (DPR) is currently 27.36%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on OZK. UBS Group began coverage on Bank OZK in a research report on Tuesday, December 17th. They set a “neutral” rating and a $51.00 target price for the company. Stephens raised their target price on Bank OZK from $53.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Finally, Wells Fargo & Company raised Bank OZK from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $40.00 to $48.00 in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Bank OZK currently has a consensus rating of “Hold” and an average target price of $50.00.

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.