Bank of the Ozarks Inc. (OZRK) to Post Q3 2017 Earnings of $0.72 Per Share, FIG Partners Forecasts
Bank of the Ozarks Inc. (NASDAQ:OZRK) – Analysts at FIG Partners lowered their Q3 2017 EPS estimates for shares of Bank of the Ozarks in a research report issued to clients and investors on Wednesday. FIG Partners analyst B. Martin now forecasts that the brokerage will post earnings of $0.72 per share for the quarter, down from their prior estimate of $0.74.
Several other equities analysts have also recently weighed in on OZRK. Zacks Investment Research cut Bank of the Ozarks from a “hold” rating to a “sell” rating in a research note on Tuesday, June 21st. Wells Fargo & Co. initiated coverage on Bank of the Ozarks in a research note on Thursday, June 23rd. They set a “market perform” rating on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $46.00 target price (down previously from $48.00) on shares of Bank of the Ozarks in a research note 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 price target for the company in a report on Thursday, August 25th. Finally, Rafferty Capital Markets assumed coverage on Bank of the Ozarks in a report on Friday, September 16th. They set a “buy” rating and a $46.00 price target for the company. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Bank of the Ozarks currently has a consensus rating of “Buy” and a consensus price target of $46.33.
Shares of Bank of the Ozarks (NASDAQ:OZRK) opened at 37.28 on Monday. The stock’s 50 day moving average is $38.80 and its 200-day moving average is $38.77. Bank of the Ozarks has a 52-week low of $33.51 and a 52-week high of $54.96. The firm has a market cap of $4.51 billion, a P/E ratio of 16.43 and a beta of 1.32.
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Bank of the Ozarks (NASDAQ:OZRK) last released its quarterly earnings results on Tuesday, October 11th. The financial services provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.06. Bank of the Ozarks had a net margin of 49.74% and a return on equity of 12.84%. During the same quarter in the prior year, the company earned $0.54 earnings per share.
Hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC raised its position in shares of Bank of the Ozarks by 158.5% in the first quarter. Renaissance Technologies LLC now owns 639,340 shares of the financial services provider’s stock worth $26,833,000 after buying an additional 392,023 shares during the period. Silvercrest Asset Management Group LLC raised its position in shares of Bank of the Ozarks by 2.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,174,231 shares of the financial services provider’s stock worth $49,282,000 after buying an additional 31,225 shares during the period. Emerald Mutual Fund Advisers Trust raised its position in shares of Bank of the Ozarks by 2.8% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 1,032,826 shares of the financial services provider’s stock worth $38,752,000 after buying an additional 27,870 shares during the period. Wellington Management Group LLP raised its position in shares of Bank of the Ozarks by 19.6% in the first quarter. Wellington Management Group LLP now owns 3,170,393 shares of the financial services provider’s stock worth $133,061,000 after buying an additional 518,912 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Bank of the Ozarks during the first quarter worth approximately $950,000. Institutional investors own 71.37% of the company’s stock.
In other Bank of the Ozarks news, Director Walter J. Mullen III purchased 1,120 shares of the business’s stock in a transaction dated Wednesday, August 10th. The stock was bought 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 directly owns 3,775 shares in the company, valued at $140,203.50. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Walter J. Mullen III purchased 1,130 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were acquired 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 owns 2,650 shares of the company’s stock, valued at $93,492. The disclosure for this purchase can be found here. 8.70% of the stock is owned by corporate insiders.
The business also recently announced 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 a positive change from Bank of the Ozarks’s previous quarterly dividend of $0.16. This represents a $0.66 annualized dividend and a yield of 1.77%. The ex-dividend date is Wednesday, October 12th. Bank of the Ozarks’s payout ratio is 27.50%.
About Bank of the Ozarks
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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