Corton Capital Inc. Makes New Investment in Bank OZK $OZK

Corton Capital Inc. bought a new position in shares of Bank OZK (NASDAQ:OZK) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,826 shares of the company’s stock, valued at approximately $227,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. boosted its stake in Bank OZK by 58.2% during the 2nd quarter. Hantz Financial Services Inc. now owns 590 shares of the company’s stock worth $28,000 after purchasing an additional 217 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Bank OZK during the 1st quarter worth $32,000. Brooklyn Investment Group boosted its position in shares of Bank OZK by 1,114.3% during the 1st quarter. Brooklyn Investment Group now owns 1,105 shares of the company’s stock valued at $48,000 after acquiring an additional 1,014 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of Bank OZK by 70.8% during the 2nd quarter. Parallel Advisors LLC now owns 1,124 shares of the company’s stock valued at $53,000 after acquiring an additional 466 shares during the last quarter. Finally, Assetmark Inc. boosted its position in shares of Bank OZK by 20.8% during the 2nd quarter. Assetmark Inc. now owns 1,507 shares of the company’s stock valued at $71,000 after acquiring an additional 259 shares during the last quarter. Institutional investors and hedge funds own 86.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on OZK shares. Morgan Stanley boosted their price target on shares of Bank OZK from $55.00 to $63.00 and gave the company an “underperform” rating in a research report on Monday, September 29th. Cowen reissued a “buy” rating on shares of Bank OZK in a research report on Tuesday, October 21st. Wall Street Zen cut shares of Bank OZK from a “hold” rating to a “sell” rating in a research report on Saturday. TD Cowen started coverage on shares of Bank OZK in a research report on Thursday, September 25th. They set a “buy” rating and a $67.00 price target on the stock. Finally, National Bankshares set a $67.00 price target on shares of Bank OZK in a research report on Wednesday, September 24th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Bank OZK currently has an average rating of “Hold” and an average target price of $58.75.

Bank OZK Stock Down 0.5%

Shares of OZK opened at $44.75 on Tuesday. The firm has a market cap of $5.09 billion, a P/E ratio of 7.22 and a beta of 0.88. Bank OZK has a 12-month low of $35.71 and a 12-month high of $53.66. The company’s 50-day moving average price is $50.17 and its 200 day moving average price is $48.27. The company has a current ratio of 1.03, a quick ratio of 1.04 and a debt-to-equity ratio of 0.13.

Bank OZK (NASDAQ:OZK) last issued its quarterly earnings data on Thursday, October 16th. The company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.07). The company had revenue of $449.94 million during the quarter, compared to analysts’ expectations of $447.93 million. Bank OZK had a net margin of 25.81% and a return on equity of 13.00%. During the same quarter last year, the firm posted $1.55 earnings per share. On average, sell-side analysts forecast that Bank OZK will post 6.02 earnings per share for the current year.

Bank OZK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Tuesday, October 14th were issued a $0.45 dividend. This is an increase from Bank OZK’s previous quarterly dividend of $0.44. The ex-dividend date was Tuesday, October 14th. This represents a $1.80 annualized dividend and a yield of 4.0%. Bank OZK’s payout ratio is presently 29.03%.

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.