Bank of New York Mellon Corp bought a new stake in shares of Bank Ozk (NASDAQ:OZK) in the third quarter, HoldingsChannel reports. The institutional investor bought 1,503,810 shares of the company’s stock, valued at approximately $57,084,000.
Several other large investors also recently added to or reduced their stakes in OZK. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Bank Ozk during the 3rd quarter worth $120,000. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Bank Ozk during the 3rd quarter worth $199,000. US Bancorp DE bought a new stake in shares of Bank Ozk during the 3rd quarter worth $224,000. ING Groep NV bought a new stake in shares of Bank Ozk during the 3rd quarter worth $223,000. Finally, Commonwealth Bank of Australia bought a new stake in shares of Bank Ozk during the 3rd quarter worth $227,000. Hedge funds and other institutional investors own 86.29% of the company’s stock.
A number of brokerages have issued reports on OZK. Brean Capital reaffirmed a “buy” rating and issued a $54.00 target price on shares of Bank Ozk in a report on Friday, October 19th. They noted that the move was a valuation call. Sandler O’Neill cut Bank Ozk from a “buy” rating to a “hold” rating and set a $29.00 target price for the company. in a report on Friday, October 19th. Wells Fargo & Co set a $40.00 target price on Bank Ozk and gave the stock a “hold” rating in a report on Tuesday, October 2nd. Barclays lowered their target price on Bank Ozk from $38.00 to $27.00 and set an “underweight” rating for the company in a report on Monday, October 22nd. Finally, Raymond James cut Bank Ozk from an “outperform” rating to a “market perform” rating in a report on Friday, October 19th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $32.22.
Shares of OZK stock opened at $26.37 on Friday. The stock has a market capitalization of $3.32 billion, a PE ratio of 8.91, a P/E/G ratio of 0.64 and a beta of 1.49. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.09. Bank Ozk has a 1-year low of $21.02 and a 1-year high of $53.70.
Bank Ozk (NASDAQ:OZK) last issued its quarterly earnings results on Thursday, October 18th. The company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.32). The company had revenue of $244.74 million during the quarter, compared to analyst estimates of $258.05 million. Bank Ozk had a net margin of 38.37% and a return on equity of 11.17%. During the same period in the previous year, the company posted $0.75 EPS. As a group, research analysts predict that Bank Ozk will post 3.18 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 22nd. Stockholders of record on Tuesday, January 15th will be paid a $0.22 dividend. This is a boost from Bank Ozk’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, January 14th. This represents a $0.88 annualized dividend and a dividend yield of 3.34%. Bank Ozk’s dividend payout ratio is presently 28.38%.
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Bank Ozk Profile
Bank OZK provides a range of retail and commercial banking services to businesses, individuals, and non-profit and governmental entities. The company accepts non-interest bearing checking, interest bearing transaction, business sweep, savings, money market, individual retirement, and other accounts, as well as time deposits.
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