Cornercap Investment Counsel Inc. Reduces Stake in Bank OZK (NASDAQ:OZK)

Cornercap Investment Counsel Inc. cut its position in Bank OZK (NASDAQ:OZK - Free Report) by 54.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,324 shares of the company's stock after selling 14,880 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in Bank OZK were worth $530,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. LRI Investments LLC acquired a new position in shares of Bank OZK in the first quarter worth approximately $29,000. PSI Advisors LLC lifted its position in shares of Bank OZK by 20,933.3% in the 2nd quarter. PSI Advisors LLC now owns 631 shares of the company's stock worth $26,000 after purchasing an additional 628 shares during the period. Assetmark Inc. increased its position in shares of Bank OZK by 73.8% during the third quarter. Assetmark Inc. now owns 968 shares of the company's stock worth $42,000 after buying an additional 411 shares during the period. Versant Capital Management Inc increased its position in shares of Bank OZK by 423.0% during the second quarter. Versant Capital Management Inc now owns 978 shares of the company's stock worth $40,000 after buying an additional 791 shares during the period. Finally, American National Bank & Trust acquired a new position in Bank OZK in the third quarter valued at $44,000. 86.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on OZK shares. Stephens increased 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, October 21st. Truist Financial dropped their price target on Bank OZK from $48.00 to $46.00 and set a "hold" rating on the stock in a research note on Monday, October 21st. Morgan Stanley raised their price objective on shares of Bank OZK from $48.00 to $51.00 and gave the stock an "equal weight" rating in a research report on Monday, August 5th. Piper Sandler boosted their target price on shares of Bank OZK from $58.00 to $63.00 and gave the company an "overweight" rating in a research report on Friday, October 18th. Finally, Raymond James cut shares of Bank OZK from an "outperform" rating to a "market perform" rating in a report on Tuesday, September 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Bank OZK currently has an average rating of "Hold" and a consensus price target of $48.50.

Bank OZK Stock Up 1.5 %

Shares of NASDAQ:OZK traded up $0.72 during midday trading on Friday, hitting $48.49. 1,289,647 shares of the company's stock were exchanged, compared to its average volume of 1,432,524. Bank OZK has a 12 month low of $37.43 and a 12 month high of $52.36. The company has a market cap of $5.50 billion, a PE ratio of 7.98 and a beta of 1.16. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a 50 day moving average price of $43.65 and a 200-day moving average price of $43.19.

Bank OZK (NASDAQ:OZK - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The company reported $1.55 EPS for the quarter, topping the consensus estimate of $1.53 by $0.02. The firm had revenue of $423.00 million during the quarter, compared to the consensus estimate of $419.08 million. Bank OZK had a return on equity of 14.15% and a net margin of 26.07%. On average, sell-side analysts anticipate that Bank OZK will post 6.03 EPS for the current fiscal year.

Bank OZK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 11th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.38%. This is an increase from Bank OZK's previous quarterly dividend of $0.40. The ex-dividend date was Friday, October 11th. Bank OZK's payout ratio is currently 26.97%.

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.