Q2 2017 EPS Estimates for Bank of the Ozarks Inc. Cut by SunTrust Banks (OZRK)
Bank of the Ozarks Inc. (NASDAQ:OZRK) – SunTrust Banks lowered their Q2 2017 earnings per share estimates for shares of Bank of the Ozarks in a research report issued on Tuesday. SunTrust Banks analyst J. Demba now forecasts that the brokerage will earn $0.73 per share for the quarter, down from their prior estimate of $0.76. SunTrust Banks also issued estimates for Bank of the Ozarks’ Q3 2017 earnings at $0.74 EPS, FY2017 earnings at $2.92 EPS, Q1 2018 earnings at $0.76 EPS and FY2018 earnings at $3.30 EPS.
Other research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $46.00 price objective on shares of Bank of the Ozarks in a research report on Tuesday, July 12th. Rafferty Capital Markets initiated coverage on Bank of the Ozarks in a research report on Friday, September 16th. They issued a “buy” rating and a $46.00 price objective for the company. Wells Fargo & Co. set a $42.00 price objective on Bank of the Ozarks and gave the stock a “hold” rating in a research report on Wednesday. Zacks Investment Research upgraded Bank of the Ozarks from a “sell” rating to a “hold” rating in a research report on Friday, October 7th. Finally, Raymond James Financial Inc. upgraded Bank of the Ozarks from a “market perform” rating to an “outperform” rating and set a $51.00 price objective for the company in a research report on Thursday, August 25th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $46.33.
Shares of Bank of the Ozarks (NASDAQ:OZRK) traded down 0.53% during mid-day trading on Friday, reaching $37.37. 885,970 shares of the company traded hands. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 16.47 and a beta of 1.32. The company’s 50 day moving average is $38.82 and its 200 day moving average is $38.81. Bank of the Ozarks has a 52-week low of $33.51 and a 52-week high of $54.96.
Bank of the Ozarks (NASDAQ:OZRK) last announced its quarterly earnings results on Tuesday, October 11th. The financial services provider reported $0.66 earnings per share for the quarter, beating the consensus estimate 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 previous year, the business posted $0.54 EPS.
Hedge funds have recently bought and sold shares of the stock. NN Investment Partners Holdings N.V. bought a new stake in Bank of the Ozarks during the first quarter worth approximately $126,000. IFP Advisors Inc raised its stake 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 during the last quarter. Bessemer Group Inc. raised 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 worth $135,000 after buying an additional 2,036 shares during the last quarter. Toronto Dominion Bank acquired a new stake in shares of Bank of the Ozarks during the second quarter worth about $135,000. Finally, Bank of Montreal Can acquired a new stake in shares of Bank of the Ozarks during the second quarter worth about $138,000. 71.41% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Walter J. Mullen III acquired 1,120 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were acquired at an average price of $37.14 per share, with a total value of $41,596.80. Following the completion of the purchase, the director now directly owns 3,775 shares in the company, valued at $140,203.50. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Walter J. Mullen III acquired 1,130 shares of the firm’s stock in a transaction that occurred on 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 purchase, 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 insiders.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Friday, October 14th will be given a $0.165 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.76%. This is a boost from Bank of the Ozarks’s previous quarterly dividend of $0.16. Bank of the Ozarks’s dividend payout ratio (DPR) is currently 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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