Bank of the Ozarks Inc. (OZRK) PT Set at $42.00 by Wells Fargo & Co.
Bank of the Ozarks Inc. (NASDAQ:OZRK) received a $42.00 price objective from investment analysts at Wells Fargo & Co. in a research report issued to clients and investors on Wednesday. The firm presently has a a “hold” rating on the financial services provider’s stock. Wells Fargo & Co.’s price objective would indicate a potential upside of 8.75% from the company’s previous close.
OZRK has been the subject of several other reports. Zacks Investment Research downgraded Bank of the Ozarks from a “hold” rating to a “sell” rating in a research report on Monday, September 19th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $46.00 target price (down from $48.00) on shares of Bank of the Ozarks in a research report on Friday, June 24th. Raymond James Financial Inc. upgraded Bank of the Ozarks from a “market perform” rating to an “outperform” rating and set a $51.00 target price for the company in a research report on Thursday, August 25th. Finally, Rafferty Capital Markets started coverage on Bank of the Ozarks in a research report on Friday, September 16th. They set a “buy” rating and a $46.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Bank of the Ozarks has an average rating of “Buy” and a consensus target price of $46.33.
Shares of Bank of the Ozarks (NASDAQ:OZRK) traded down 2.913% during mid-day trading on Wednesday, reaching $37.495. 1,332,427 shares of the company traded hands. The firm has a 50 day moving average of $38.84 and a 200-day moving average of $38.82. Bank of the Ozarks has a 52 week low of $33.51 and a 52 week high of $54.96. The stock has a market capitalization of $4.54 billion, a PE ratio of 16.525 and a beta of 1.32.
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Bank of the Ozarks (NASDAQ:OZRK) last released its earnings results on Tuesday, October 11th. The financial services provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.06. Bank of the Ozarks had a return on equity of 12.84% and a net margin of 49.74%. During the same quarter in the prior year, the business earned $0.54 earnings per share. On average, equities research analysts expect that Bank of the Ozarks will post $2.44 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Friday, October 14th will be issued a $0.165 dividend. This is an increase from Bank of the Ozarks’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Wednesday, October 12th. Bank of the Ozarks’s payout ratio is presently 26.67%.
In other news, Director Walter J. Mullen III bought 1,120 shares of Bank of the Ozarks stock in a transaction on Wednesday, August 10th. The stock was acquired at an average cost of $37.14 per share, for a total transaction of $41,596.80. Following the completion of the acquisition, the director now owns 3,775 shares of the company’s stock, valued at approximately $140,203.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Walter J. Mullen III bought 1,130 shares of Bank of the Ozarks stock in a transaction on Tuesday, August 2nd. The stock was purchased at an average price of $35.28 per share, with a total value of $39,866.40. Following the completion of the acquisition, the director now directly owns 2,650 shares of the company’s stock, valued at approximately $93,492. The disclosure for this purchase can be found here. 8.70% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. IFP Advisors Inc increased its position in shares of Bank of the Ozarks by 620.3% in the second quarter. IFP Advisors Inc now owns 3,119 shares of the financial services provider’s stock worth $117,000 after buying an additional 2,686 shares in the last quarter. NN Investment Partners Holdings N.V. increased its position in shares of Bank of the Ozarks by 10.0% in the second quarter. NN Investment Partners Holdings N.V. now owns 3,300 shares of the financial services provider’s stock worth $124,000 after buying an additional 300 shares in the last quarter. Bessemer Group Inc. increased its position 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 worth $135,000 after buying an additional 2,036 shares in the last quarter. Toronto Dominion Bank purchased a new position in shares of Bank of the Ozarks during the second quarter worth approximately $135,000. Finally, Bank of Montreal Can purchased a new position in shares of Bank of the Ozarks during the second quarter worth approximately $138,000. Institutional investors and hedge funds own 71.41% of the company’s stock.
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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