Bank of New York Mellon Corp Has $48.99 Million Stock Holdings in Bank OZK (NASDAQ:OZK)

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

Several other hedge funds also recently made changes to their positions in the business. Aviance Capital Partners LLC grew its stake in shares of Bank OZK by 118.8% in the 1st quarter. Aviance Capital Partners LLC now owns 33,559 shares of the company's stock worth $1,458,000 after purchasing an additional 18,218 shares during the last quarter. Palisade Capital Management LP grew its stake in shares of Bank OZK by 3.8% in the 1st quarter. Palisade Capital Management LP now owns 60,176 shares of the company's stock worth $2,615,000 after purchasing an additional 2,196 shares during the last quarter. D.A. Davidson & CO. acquired a new position in shares of Bank OZK in the 1st quarter worth approximately $232,000. Summit Trail Advisors LLC grew its stake in shares of Bank OZK by 235.2% in the 1st quarter. Summit Trail Advisors LLC now owns 16,101 shares of the company's stock worth $700,000 after purchasing an additional 11,298 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Bank OZK by 55.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 129,980 shares of the company's stock worth $5,639,000 after purchasing an additional 46,349 shares during the last quarter. Institutional investors and hedge funds own 86.18% of the company's stock.

Bank OZK Stock Up 1.4%

Shares of OZK stock traded up $0.74 during trading on Thursday, hitting $51.91. 1,852,906 shares of the company were exchanged, compared to its average volume of 1,205,910. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 8.51 and a beta of 0.85. The business's 50-day simple moving average is $47.03 and its 200 day simple moving average is $45.92. Bank OZK has a twelve month low of $35.71 and a twelve month high of $53.64.

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

Bank OZK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Friday, July 11th will be issued a dividend of $0.44 per share. This is a boost from Bank OZK's previous quarterly dividend of $0.43. This represents a $1.76 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Friday, July 11th. Bank OZK's dividend payout ratio (DPR) is currently 28.85%.

Wall Street Analysts Forecast Growth

OZK has been the topic of several recent research reports. Wells Fargo & Company lifted their price objective on shares of Bank OZK from $40.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Raymond James Financial raised 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 research report on Tuesday, July 8th. Keefe, Bruyette & Woods dropped their target price on shares of Bank OZK from $50.00 to $48.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. Finally, Stephens dropped their target price on shares of Bank OZK from $59.00 to $54.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Bank OZK presently has a consensus rating of "Hold" and an average 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.