Bank of the Ozarks Inc. (OZRK) Posts Earnings Results, Beats Expectations By $0.60 EPS
Bank of the Ozarks Inc. (NASDAQ:OZRK) posted its quarterly earnings results on Tuesday. The financial services provider reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.60. Bank of the Ozarks had a net margin of 35.99% and a return on equity of 13.95%.
Shares of Bank of the Ozarks (NASDAQ:OZRK) opened at 41.36 on Tuesday. Bank of the Ozarks has a 52 week low of $33.51 and a 52 week high of $54.96. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 18.23 and a beta of 1.32. The company has a 50 day moving average of $38.79 and a 200-day moving average of $38.81.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Friday, October 14th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Wednesday, October 12th. This is a positive change from Bank of the Ozarks’s previous quarterly dividend of $0.16. Bank of the Ozarks’s payout ratio is 28.32%.
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Several research analysts recently commented on OZRK shares. Zacks Investment Research lowered shares of Bank of the Ozarks from a “hold” rating to a “sell” rating in a report on Tuesday, June 14th. Wells Fargo & Co. started coverage on shares of Bank of the Ozarks in a report on Thursday, June 23rd. They issued a “market perform” rating on the stock. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $46.00 price target (down previously from $48.00) on shares of Bank of the Ozarks in a report on Friday, June 24th. Raymond James Financial Inc. upgraded shares of Bank of the Ozarks from a “market perform” rating to an “outperform” rating and set a $51.00 price target on the stock in a report on Thursday, August 25th. Finally, Rafferty Capital Markets started coverage on shares of Bank of the Ozarks in a report on Friday, September 16th. They issued a “buy” rating and a $46.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $47.20.
In other news, Director Walter J. Mullen III purchased 1,130 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was acquired at an average price of $35.28 per share, with a total value of $39,866.40. Following the purchase, the director now owns 2,650 shares in the company, valued at approximately $93,492. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Walter J. Mullen III purchased 1,120 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was purchased at an average cost of $37.14 per share, with a total value of $41,596.80. Following the purchase, the director now owns 3,775 shares in the company, valued at approximately $140,203.50. The disclosure for this purchase can be found here. Company insiders own 8.70% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Bessemer Group Inc. boosted its stake in shares of Bank of the Ozarks by 132.0% in the second quarter. Bessemer Group Inc. now owns 3,579 shares of the financial services provider’s stock valued at $135,000 after buying an additional 2,036 shares during the last quarter. Toronto Dominion Bank purchased a new stake in shares of Bank of the Ozarks during the second quarter valued at approximately $135,000. Advisor Group Inc. purchased a new stake in shares of Bank of the Ozarks during the second quarter valued at approximately $242,000. Pacer Advisors Inc. purchased a new stake in shares of Bank of the Ozarks during the second quarter valued at approximately $266,000. Finally, Paradigm Asset Management Co. LLC purchased a new stake in shares of Bank of the Ozarks during the second quarter valued at approximately $371,000. 71.41% of the stock is owned by institutional investors and hedge funds.
Bank of the Ozarks Company Profile
Bank of the Ozarks, Inc is a bank holding company. The Company owns an Arkansas state chartered subsidiary bank, Bank of the Ozarks (the Bank). The Company, through the Bank, conducts operations through approximately 257 offices, including over 80 offices in Arkansas, approximately 30 in Georgia, over 20 in North Carolina, over 20 in Texas, approximately 44 in Florida, over three in Alabama, approximately two each in South Carolina and New York, and one in California.
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