FIG Partners Comments on Bank of the Ozarks Inc.’s FY2016 Earnings (OZRK)
Bank of the Ozarks Inc. (NASDAQ:OZRK) – Equities research analysts at FIG Partners lifted their FY2016 earnings per share (EPS) estimates for shares of Bank of the Ozarks in a report issued on Wednesday. FIG Partners analyst B. Martin now anticipates that the brokerage will post earnings of $2.53 per share for the year, up from their previous estimate of $2.33. FIG Partners also issued estimates for Bank of the Ozarks’ Q4 2016 earnings at $0.68 EPS, Q1 2017 earnings at $0.69 EPS, Q2 2017 earnings at $0.70 EPS, Q4 2017 earnings at $0.73 EPS and FY2017 earnings at $2.84 EPS.
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 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 previous year, the firm earned $0.54 earnings per share.
A number of other research firms have also recently weighed in on OZRK. Zacks Investment Research raised shares of Bank of the Ozarks from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $46.00 price target on shares of Bank of the Ozarks in a research note on Tuesday, July 12th. Rafferty Capital Markets assumed coverage on shares of Bank of the Ozarks in a research note on Friday, September 16th. They set a “buy” rating and a $46.00 price target on the stock. Wells Fargo & Co. set a $42.00 price target on shares of Bank of the Ozarks and gave the stock a “hold” rating in a research note on Wednesday. Finally, Raymond James Financial Inc. raised shares of Bank of the Ozarks from a “market perform” rating to an “outperform” rating and set a $51.00 price target on the stock in a research note on Thursday, August 25th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $46.33.
Shares of Bank of the Ozarks (NASDAQ:OZRK) opened at 37.28 on Friday. The firm has a market capitalization of $4.51 billion, a PE ratio of 16.43 and a beta of 1.32. The firm’s 50 day moving average is $38.80 and its 200-day moving average is $38.77. Bank of the Ozarks has a 12 month low of $33.51 and a 12 month high of $54.96.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Friday, October 14th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.77%. This is a boost 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 dividend payout ratio is presently 27.50%.
In other news, Director Walter J. Mullen III bought 1,130 shares of Bank of the Ozarks stock in a transaction 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 acquisition, the director now owns 2,650 shares in the company, valued at $93,492. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Walter J. Mullen III bought 1,120 shares of Bank of the Ozarks stock in a transaction on Wednesday, August 10th. The stock was purchased at an average price of $37.14 per share, for a total transaction of $41,596.80. Following the completion of the acquisition, the director now owns 3,775 shares in the company, valued at approximately $140,203.50. The disclosure for this purchase can be found here. 8.70% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its position in 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 period. NN Investment Partners Holdings N.V. raised its position in 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 during the period. Bessemer Group Inc. raised its position in 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 period. Toronto Dominion Bank purchased a new position in Bank of the Ozarks during the second quarter worth about $135,000. Finally, Bank of Montreal Can purchased a new position in Bank of the Ozarks during the second quarter worth about $138,000. Institutional investors own 71.41% of the company’s stock.
Bank of the Ozarks Company Profile
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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