Cornercap Investment Counsel Inc. Sells 14,880 Shares of Bank OZK (NASDAQ:OZK)

Cornercap Investment Counsel Inc. decreased its position in Bank OZK (NASDAQ:OZK) by 54.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 12,324 shares of the company’s stock after selling 14,880 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Bank OZK were worth $530,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Tidal Investments LLC lifted its stake in Bank OZK by 4.0% in the 1st quarter. Tidal Investments LLC now owns 5,491 shares of the company’s stock valued at $250,000 after acquiring an additional 210 shares in the last quarter. Evergreen Capital Management LLC lifted its stake in Bank OZK by 8.3% in the 2nd quarter. Evergreen Capital Management LLC now owns 5,079 shares of the company’s stock valued at $208,000 after acquiring an additional 388 shares in the last quarter. Naples Global Advisors LLC lifted its stake in Bank OZK by 2.5% in the 2nd quarter. Naples Global Advisors LLC now owns 16,550 shares of the company’s stock valued at $679,000 after acquiring an additional 400 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in Bank OZK by 0.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 82,134 shares of the company’s stock valued at $3,733,000 after acquiring an additional 409 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in Bank OZK by 73.8% in the 3rd quarter. Assetmark Inc. now owns 968 shares of the company’s stock valued at $42,000 after acquiring an additional 411 shares in the last quarter. Institutional investors own 86.18% of the company’s stock.

Wall Street Analyst Weigh In

OZK has been the topic of a number of analyst reports. Truist Financial dropped their price objective 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. Piper Sandler upped their price objective on Bank OZK from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Morgan Stanley upped their price objective on Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Stephens upped their price objective on Bank OZK from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Monday, October 21st. Finally, Raymond James cut Bank OZK from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $48.50.

Bank OZK Stock Up 1.5 %

OZK stock opened at $48.49 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12. The business’s 50 day simple moving average is $43.65 and its 200 day simple moving average is $43.19. Bank OZK has a 1-year low of $37.43 and a 1-year high of $52.36. The firm has a market capitalization of $5.50 billion, a PE ratio of 7.98 and a beta of 1.16.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings data on Thursday, October 17th. The company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.02. Bank OZK had a return on equity of 14.15% and a net margin of 26.07%. The firm had revenue of $423.00 million for the quarter, compared to analyst estimates of $419.08 million. As a group, research analysts anticipate that Bank OZK will post 6.03 EPS for the current year.

Bank OZK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Friday, October 11th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.38%. This is an increase from Bank OZK’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, October 11th. Bank OZK’s dividend payout ratio is presently 26.97%.

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.