Bank of New York Mellon Corp Has $49.38 Million Stock Position in Bank OZK (NASDAQ:OZK)

Bank of New York Mellon Corp lessened its stake in shares of Bank OZK (NASDAQ:OZK) by 1.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,204,316 shares of the company’s stock after selling 21,806 shares during the period. Bank of New York Mellon Corp owned about 1.06% of Bank OZK worth $49,377,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its stake in shares of Bank OZK by 136.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 359,814 shares of the company’s stock worth $17,930,000 after purchasing an additional 207,341 shares in the last quarter. Pinebridge Investments L.P. raised its position in Bank OZK by 77.3% during the fourth quarter. Pinebridge Investments L.P. now owns 188,600 shares of the company’s stock worth $9,397,000 after acquiring an additional 82,233 shares in the last quarter. M&G Plc acquired a new stake in Bank OZK in the first quarter valued at $8,437,000. State Board of Administration of Florida Retirement System grew its position in shares of Bank OZK by 27.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 140,492 shares of the company’s stock valued at $6,387,000 after acquiring an additional 29,993 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Bank OZK during the 2nd quarter worth about $873,000. 86.18% of the stock is owned by institutional investors and hedge funds.

Bank OZK Trading Up 0.2 %

Shares of Bank OZK stock opened at $43.35 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.01 and a current ratio of 1.02. The firm has a 50-day moving average of $42.64 and a 200-day moving average of $43.30. 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.

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

Bank OZK Increases Dividend

The business 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. The ex-dividend date was Friday, July 12th. This is a boost from Bank OZK’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 3.69%. Bank OZK’s payout ratio is currently 26.80%.

Analyst Ratings Changes

A number of equities analysts recently commented on OZK shares. Morgan Stanley lifted their price target on Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Wells Fargo & Company reduced their target price on Bank OZK from $39.00 to $35.00 and set an “underweight” rating for the company in a research note on Thursday, June 6th. Citigroup cut Bank OZK from a “buy” rating to a “sell” rating and dropped their price target for the company from $57.00 to $37.00 in a research note on Wednesday, May 29th. Truist Financial lifted their price objective on shares of Bank OZK from $41.00 to $49.00 and gave the stock a “hold” rating in a research report on Monday, July 22nd. Finally, StockNews.com raised shares of Bank OZK from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $46.71.

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.