Bank of the Ozarks (OZRK) Expected to Post Quarterly Sales of $243.67 Million
Wall Street brokerages predict that Bank of the Ozarks (NASDAQ:OZRK) will post sales of $243.67 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Bank of the Ozarks’ earnings. The highest sales estimate is $248.20 million and the lowest is $238.10 million. Bank of the Ozarks reported sales of $204.38 million in the same quarter last year, which would indicate a positive year over year growth rate of 19.2%. The firm is expected to report its next earnings report on Tuesday, October 10th.
According to Zacks, analysts expect that Bank of the Ozarks will report full year sales of $243.67 million for the current financial year, with estimates ranging from $940.50 million to $965.80 million. For the next year, analysts anticipate that the firm will report sales of $1.11 billion per share, with estimates ranging from $1.08 billion to $1.15 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Bank of the Ozarks.
Bank of the Ozarks (NASDAQ:OZRK) last released its earnings results on Wednesday, July 12th. The financial services provider reported $0.73 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.73. Bank of the Ozarks had a return on equity of 11.75% and a net margin of 46.15%. The firm had revenue of $237.30 million during the quarter, compared to analysts’ expectations of $232.85 million. During the same period in the previous year, the firm posted $0.60 EPS. Bank of the Ozarks’s revenue for the quarter was up 64.8% on a year-over-year basis.
Several brokerages recently weighed in on OZRK. Brean Capital set a $59.00 target price on Bank of the Ozarks and gave the stock a “buy” rating in a research report on Saturday, June 3rd. Stephens set a $64.00 target price on Bank of the Ozarks and gave the stock a “buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research lowered Bank of the Ozarks from a “buy” rating to a “hold” rating in a research report on Thursday, April 13th. Keefe, Bruyette & Woods set a $56.00 target price on Bank of the Ozarks and gave the stock a “buy” rating in a research report on Thursday, July 6th. Finally, BidaskClub lowered Bank of the Ozarks from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. Bank of the Ozarks has an average rating of “Buy” and a consensus price target of $53.88.
In related news, insider Dan Thomas sold 19,737 shares of the stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $47.37, for a total value of $934,941.69. Following the completion of the sale, the insider now directly owns 110,624 shares in the company, valued at approximately $5,240,258.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Walter J. Mullen III sold 505 shares of the stock in a transaction on Monday, April 24th. The shares were sold at an average price of $50.31, for a total value of $25,406.55. Following the completion of the sale, the director now owns 3,400 shares of the company’s stock, valued at $171,054. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,310 shares of company stock valued at $1,057,451. 6.70% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Bank of the Ozarks during the fourth quarter valued at $37,239,000. Quadrature Capital Ltd acquired a new stake in shares of Bank of the Ozarks during the fourth quarter valued at $702,000. USA Financial Portformulas Corp acquired a new stake in shares of Bank of the Ozarks during the fourth quarter valued at $1,393,000. Teachers Advisors LLC increased its stake in shares of Bank of the Ozarks by 6.2% in the fourth quarter. Teachers Advisors LLC now owns 168,494 shares of the financial services provider’s stock valued at $8,861,000 after buying an additional 9,905 shares in the last quarter. Finally, Raymond James Trust N.A. increased its stake in shares of Bank of the Ozarks by 5.7% in the first quarter. Raymond James Trust N.A. now owns 10,998 shares of the financial services provider’s stock valued at $572,000 after buying an additional 589 shares in the last quarter. Institutional investors own 85.34% of the company’s stock.
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Bank of the Ozarks (NASDAQ OZRK) opened at 46.78 on Friday. Bank of the Ozarks has a 1-year low of $35.11 and a 1-year high of $56.86. The firm has a market capitalization of $6.00 billion, a PE ratio of 16.45 and a beta of 1.54. The company’s 50-day moving average price is $47.02 and its 200 day moving average price is $50.36.
The business also recently declared a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Friday, July 14th were issued a $0.18 dividend. This is an increase from Bank of the Ozarks’s previous quarterly dividend of $0.18. This represents a $0.72 annualized dividend and a yield of 1.54%. The ex-dividend date was Wednesday, July 12th. Bank of the Ozarks’s dividend payout ratio is currently 25.35%.
About Bank of the Ozarks
Bank of the Ozarks, Inc is a state chartered bank that provides retail and commercial banking services. Its deposit services include checking, savings, money market, time deposit and individual retirement accounts. Its loan services include various types of real estate, consumer, commercial, industrial and agricultural loans and various leasing services.
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