Bank OZK (NASDAQ:OZK) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in Bank OZK (NASDAQ:OZK - Free Report) by 2.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,127,576 shares of the company's stock after acquiring an additional 23,492 shares during the quarter. Bank of New York Mellon Corp owned 0.99% of Bank OZK worth $48,993,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. CX Institutional purchased a new stake in shares of Bank OZK during the first quarter worth about $30,000. Bruce G. Allen Investments LLC grew its position in Bank OZK by 4,828.6% during the 1st quarter. Bruce G. Allen Investments LLC now owns 1,035 shares of the company's stock valued at $45,000 after purchasing an additional 1,014 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Bank OZK during the 4th quarter valued at about $54,000. UMB Bank n.a. raised its position in Bank OZK by 2,014.3% in the 1st quarter. UMB Bank n.a. now owns 1,480 shares of the company's stock worth $64,000 after buying an additional 1,410 shares during the last quarter. Finally, Whipplewood Advisors LLC raised its position in Bank OZK by 1,052.0% in the 1st quarter. Whipplewood Advisors LLC now owns 1,993 shares of the company's stock worth $87,000 after buying an additional 1,820 shares during the last quarter. Institutional investors own 86.18% of the company's stock.

Bank OZK Stock Up 0.3%

Shares of OZK stock traded up $0.14 on Thursday, hitting $51.31. The stock had a trading volume of 94,225 shares, compared to its average volume of 1,202,693. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.14. The business has a 50 day moving average price of $46.89 and a 200 day moving average price of $45.87. The company has a market cap of $5.84 billion, a PE ratio of 8.40 and a beta of 0.85. Bank OZK has a one year low of $35.71 and a one year high of $53.64.

Bank OZK (NASDAQ:OZK - Get Free Report) last announced its earnings results on Wednesday, April 16th. The company reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.05. Bank OZK had a net margin of 25.66% and a return on equity of 13.46%. The business had revenue of $409.23 million during the quarter, compared to the consensus estimate of $403.05 million. During the same period in the previous year, the company posted $1.51 earnings per share. Research analysts anticipate that Bank OZK will post 6.02 earnings per share for the current fiscal year.

Bank OZK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Friday, July 11th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.43%. The ex-dividend date is Friday, July 11th. This is an increase from Bank OZK's previous quarterly dividend of $0.43. Bank OZK's payout ratio is presently 28.85%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on OZK. Wells Fargo & Company raised their target price on Bank OZK from $40.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Stephens decreased their price target on Bank OZK from $59.00 to $54.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Keefe, Bruyette & Woods dropped their price objective on shares of Bank OZK from $50.00 to $48.00 and set a "market perform" rating for the company in a report on Tuesday, April 22nd. Finally, Raymond James Financial upgraded shares of Bank OZK from a "market perform" rating to an "outperform" rating and set a $58.00 target price on the stock in a report on Tuesday, July 8th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Bank OZK has a consensus rating of "Hold" and a consensus target price of $52.75.

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.