Shares of Bank of the Ozarks Inc. (NASDAQ:OZRK) traded up 3.4% during trading on Tuesday following a dividend announcement from the company. The stock traded as high as $39.45 and last traded at $39.30, with a volume of 902,681 shares changing hands. The stock had previously closed at $37.99.

The newly announced dividend which will be paid on Friday, October 21st. Investors of record on Friday, October 14th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.65%. This is a positive change from Bank of the Ozarks’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Wednesday, October 12th. Bank of the Ozarks’s payout ratio is 28.32%.

Several analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Bank of the Ozarks from a “hold” rating to a “sell” rating in a research report on Monday, September 19th. Rafferty Capital Markets began coverage on shares of Bank of the Ozarks in a research report on Friday, September 16th. They issued a “buy” rating and a $46.00 price target for the company. 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 for the company in a research report on Thursday, August 25th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $46.00 price target on shares of Bank of the Ozarks in a research report on Tuesday, July 12th. Finally, Wells Fargo & Co. began coverage on shares of Bank of the Ozarks in a research report on Thursday, June 23rd. They issued a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. Bank of the Ozarks presently has a consensus rating of “Buy” and a consensus price target of $47.20.

The company has a market cap of $4.85 billion, a PE ratio of 17.65 and a beta of 1.32. The company has a 50-day moving average of $38.57 and a 200-day moving average of $38.87.

Bank of the Ozarks (NASDAQ:OZRK) last announced its quarterly earnings data on Monday, July 11th. The financial services provider reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.01. Bank of the Ozarks had a net margin of 35.99% and a return on equity of 13.95%. During the same period last year, the company posted $0.51 earnings per share. On average, analysts expect that Bank of the Ozarks Inc. will post $2.44 EPS for the current fiscal year.

In other news, Director Walter J. Mullen III acquired 1,120 shares of the company’s stock in a transaction dated Wednesday, August 10th. The shares were bought at an average price of $37.14 per share, with a total value of $41,596.80. Following the purchase, the director now owns 3,775 shares of the company’s stock, 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 bought 1,130 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were bought at an average cost of $35.28 per share, for a total transaction of $39,866.40. Following the completion of the transaction, the director now directly 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 currently owned by corporate insiders.

Several large investors have recently made changes to their positions in OZRK. Fiera Capital Corp bought a new stake in shares of Bank of the Ozarks during the second quarter worth about $36,995,000. Hermes Investment Management Ltd. bought a new stake in shares of Bank of the Ozarks during the second quarter worth about $28,767,000. Loomis Sayles & Co. L P raised its stake in shares of Bank of the Ozarks by 168.4% in the second quarter. Loomis Sayles & Co. L P now owns 1,216,388 shares of the financial services provider’s stock worth $45,639,000 after buying an additional 763,199 shares during the period. Edge Asset Management Inc. bought a new stake in shares of Bank of the Ozarks during the second quarter worth about $23,999,000. Finally, State Street Corp raised its stake in shares of Bank of the Ozarks by 11.9% in the second quarter. State Street Corp now owns 5,064,050 shares of the financial services provider’s stock worth $190,002,000 after buying an additional 537,768 shares during the period. 71.41% of the stock is currently owned by institutional investors.

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.

5 Day Chart for NASDAQ:OZRK

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