Bank of the Ozarks Inc. (OZRK) to Post FY2016 Earnings of $2.50 Per Share, SunTrust Banks Forecasts
Bank of the Ozarks Inc. (NASDAQ:OZRK) – Equities researchers at SunTrust Banks upped their FY2016 EPS estimates for Bank of the Ozarks in a report issued on Tuesday. SunTrust Banks analyst J. Demba now anticipates that the firm will post earnings per share of $2.50 for the year, up from their prior estimate of $2.47. SunTrust Banks also issued estimates for Bank of the Ozarks’ Q4 2016 earnings at $0.68 EPS, Q4 2017 earnings at $0.76 EPS, Q2 2018 earnings at $0.80 EPS and Q3 2018 earnings at $0.85 EPS.
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 the Thomson Reuters’ 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 previous year, the company earned $0.54 EPS.
OZRK has been the subject of several other research reports. Rafferty Capital Markets assumed coverage on Bank of the Ozarks in a research note on Friday, September 16th. They set a “buy” rating and a $46.00 price target for the company. Zacks Investment Research downgraded Bank of the Ozarks from a “hold” rating to a “sell” rating in a research note on Monday, September 19th. 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 note on Thursday, August 25th. Wells Fargo & Co. set a $42.00 target price on Bank of the Ozarks and gave the stock a “hold” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $46.33.
Shares of Bank of the Ozarks (NASDAQ:OZRK) opened at 37.28 on Thursday. Bank of the Ozarks has a 12-month low of $33.51 and a 12-month high of $54.96. The company has a market capitalization of $4.51 billion, a PE ratio of 16.43 and a beta of 1.32. The stock’s 50 day moving average price is $38.80 and its 200 day moving average price is $38.77.
Several hedge funds have recently added to or reduced their stakes in OZRK. IFP Advisors Inc boosted 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. boosted 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. boosted 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 $135,000. Finally, Bank of Montreal Can purchased a new position in shares of Bank of the Ozarks during the second quarter worth $138,000. 71.41% of the stock is currently owned by hedge funds and other institutional investors.
In other Bank of the Ozarks news, Director Walter J. Mullen III purchased 1,120 shares of the stock in a transaction on Wednesday, August 10th. The shares were purchased at an average price of $37.14 per share, with a total value of $41,596.80. Following the acquisition, the director now directly owns 3,775 shares in the company, valued at approximately $140,203.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Walter J. Mullen III purchased 1,130 shares of the stock in a transaction on Tuesday, August 2nd. The stock was acquired at an average cost of $35.28 per share, for a total transaction of $39,866.40. Following the acquisition, the director now owns 2,650 shares in the company, valued at $93,492. The disclosure for this purchase can be found here. 8.70% of the stock is owned by company insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Friday, October 14th will be issued a $0.165 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $0.66 annualized dividend and a dividend yield of 1.77%. 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 presently 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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