Bank OZK surging back: Just ask Morgan Stanley & Vanguard Group
The retail and commercial bank with a market capitalisation of $4.11B USD increased its trading volume from its average of 1.64 million shares a day to 5.41 million shares as a buying bonanza irrupted.
Interest in the bank has been fueled by it's recent Wall St beating earning report and by SEC 13F filing showing strong institutional interest. Substantial positions have been taken up by Morgan Stanley, Vanguard Group, Paradigm Asset Management and the Commonwealth Bank of Australia.
Christopher Allsworth LLB, CFA Senior Strategist at Christoph Feymann Capital said "It's the old addage, institutional money is the smart money, and even when it's not it's enough to move the markets"
In this instance the culminative effect of the earning report that topped the analyst consensus of 83 cents per share EPS with an impressive EPS of 89 cents per share and the new realisation that Bank OZK has topped 86% institutional ownership has caught the markets interest.
The question remains though. Is Bank OZK a good addition to your portfolio. Well its consensus analyst rating is a hold and its price target has already been achieved. So the answer is questionable. Christopher Allsworth of Christoph Feymann Capital (https://cfc-
About Bank OZL:
Bank OZK provides a range of retail and commercial banking services to business, individuals and non-profit and governmental entities. The company accepts non-interest bearing checking, interest bearing transactions, business sweep, savings, money market, individual retirement and other accounts.
Christoph Feymann Capital