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

Bank of New York Mellon Corp increased its stake in Bank OZK (NASDAQ:OZK) by 0.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,104,084 shares of the company’s stock after purchasing an additional 1,589 shares during the quarter. Bank of New York Mellon Corp owned 0.97% of Bank OZK worth $49,165,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in OZK. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Bank OZK in the 4th quarter worth about $27,000. Kestra Investment Management LLC purchased a new stake in Bank OZK during the 4th quarter worth about $27,000. Assetmark Inc. increased 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 in the last quarter. V Square Quantitative Management LLC increased 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 in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in Bank OZK during the third quarter worth about $61,000. Hedge funds and other institutional investors own 86.18% of the company’s stock.

Bank OZK Stock Down 0.7 %

OZK opened at $45.39 on Thursday. Bank OZK has a 1 year low of $37.43 and a 1 year high of $53.64. The firm has a 50 day moving average price of $48.13 and a 200 day moving average price of $45.81. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.02 and a current ratio of 1.03. The company has a market cap of $5.15 billion, a PE ratio of 7.39 and a beta of 1.23.

Bank OZK (NASDAQ:OZK) last released its quarterly earnings data on Thursday, January 16th. The company reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.12. Bank OZK had a net margin of 25.83% and a return on equity of 13.90%. The company had revenue of $412.34 million during the quarter, compared to the consensus estimate of $407.19 million. During the same period in the previous year, the firm earned $1.50 earnings per share. Bank OZK’s revenue for the quarter was up 1.2% on a year-over-year basis. Sell-side analysts expect that Bank OZK will post 6.02 earnings per share for the current year.

Bank OZK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Tuesday, January 14th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.70%. This is a boost from Bank OZK’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Tuesday, January 14th. Bank OZK’s dividend payout ratio is 27.36%.

Wall Street Analysts Forecast Growth

OZK has been the topic of several recent analyst reports. Stephens increased 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. UBS Group initiated coverage on Bank OZK in a research report on Tuesday, December 17th. They set a “neutral” rating and a $51.00 target price on the stock. Finally, Wells Fargo & Company upgraded Bank OZK from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $40.00 to $48.00 in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.