Bank of New York Mellon Corp Decreases Stock Position in Bank OZK (NASDAQ:OZK)

Bank of New York Mellon Corp cut its stake in shares of Bank OZK (NASDAQ:OZK) by 1.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,204,316 shares of the company’s stock after selling 21,806 shares during the quarter. Bank of New York Mellon Corp’s holdings in Bank OZK were worth $49,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of OZK. Norges Bank purchased a new stake in shares of Bank OZK during the fourth quarter valued at approximately $56,293,000. Vanguard Group Inc. raised its holdings in Bank OZK by 4.4% during the 4th quarter. Vanguard Group Inc. now owns 12,028,779 shares of the company’s stock valued at $599,394,000 after buying an additional 502,005 shares during the last quarter. Wellington Management Group LLP boosted its position in Bank OZK by 18.8% during the 4th quarter. Wellington Management Group LLP now owns 1,897,696 shares of the company’s stock valued at $94,562,000 after buying an additional 300,025 shares during the period. Epoch Investment Partners Inc. bought a new stake in Bank OZK in the 4th quarter worth $10,624,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Bank OZK by 136.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 359,814 shares of the company’s stock valued at $17,930,000 after acquiring an additional 207,341 shares during the period. 86.18% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on OZK shares. Morgan Stanley increased their target price on shares of Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Citigroup cut Bank OZK from a “buy” rating to a “sell” rating and dropped their price objective for the stock from $57.00 to $37.00 in a report on Wednesday, May 29th. Wells Fargo & Company reduced their target price on Bank OZK from $39.00 to $35.00 and set an “underweight” rating on the stock in a research note on Thursday, June 6th. StockNews.com raised Bank OZK from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Finally, Stephens reiterated an “equal weight” rating and issued a $50.00 price target on shares of Bank OZK in a report on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $46.71.

Bank OZK Trading Up 0.2 %

OZK opened at $43.35 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.02 and a debt-to-equity ratio of 0.17. Bank OZK has a 52 week low of $34.76 and a 52 week high of $52.36. The stock has a market cap of $4.92 billion, a PE ratio of 7.26 and a beta of 1.20. The business has a 50 day moving average of $42.64 and a 200-day moving average of $43.30.

Bank OZK (NASDAQ:OZK) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $1.52 EPS for the quarter, meeting the consensus estimate of $1.52. The business had revenue of $416.78 million during the quarter, compared to analyst estimates of $414.39 million. Bank OZK had a return on equity of 14.50% and a net margin of 27.04%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.47 earnings per share. Equities research analysts predict that Bank OZK will post 6.01 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 12th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend was Friday, July 12th. This is a boost from Bank OZK’s previous quarterly dividend of $0.39. Bank OZK’s dividend payout ratio is 26.80%.

Bank OZK Profile

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.