CI Investments Inc. purchased a new stake in shares of Bank Ozk (NASDAQ:OZK) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 86,000 shares of the company’s stock, valued at approximately $3,265,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund acquired a new stake in Bank Ozk during the second quarter worth $2,139,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Bank Ozk in the 2nd quarter valued at $1,932,000. BKD Wealth Advisors LLC acquired a new stake in shares of Bank Ozk in the 3rd quarter valued at $304,000. State of Alaska Department of Revenue acquired a new stake in shares of Bank Ozk in the 3rd quarter valued at $479,000. Finally, Bank of Montreal Can acquired a new stake in shares of Bank Ozk in the 3rd quarter valued at $434,000. 89.03% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Bank Ozk from a “hold” rating to a “sell” rating in a research note on Tuesday, September 11th. Brean Capital restated a “buy” rating on shares of Bank Ozk in a research note on Monday, October 29th. Barclays reduced their target price on shares of Bank Ozk from $38.00 to $27.00 and set an “underweight” rating on the stock in a research note on Monday, October 22nd. ValuEngine downgraded shares of Bank Ozk from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 13th. Finally, Stephens reiterated a “hold” rating and set a $48.00 price target on shares of Bank Ozk in a research report on Thursday, October 18th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $32.63.
Bank Ozk (NASDAQ:OZK) last issued its quarterly earnings results on Thursday, October 18th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.32). The company had revenue of $244.74 million for the quarter, compared to analyst estimates of $258.05 million. Bank Ozk had a return on equity of 11.17% and a net margin of 38.37%. During the same quarter last year, the company earned $0.75 EPS. On average, sell-side analysts forecast that Bank Ozk will post 3.18 earnings per share for the current fiscal year.
About Bank Ozk
Bank OZK provides a range of retail and commercial banking services to businesses, individuals, and non-profit and governmental entities. The company accepts non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time deposits.
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