Bank of Nova Scotia Has $1.57 Million Position in Bank of the Ozarks (NASDAQ:OZRK)
Bank of Nova Scotia lowered its stake in Bank of the Ozarks (NASDAQ:OZRK) by 51.7% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 30,251 shares of the financial services provider’s stock after selling 32,430 shares during the period. Bank of Nova Scotia’s holdings in Bank of the Ozarks were worth $1,573,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OZRK. Glen Harbor Capital Management LLC boosted its position in Bank of the Ozarks by 9.3% in the first quarter. Glen Harbor Capital Management LLC now owns 2,624 shares of the financial services provider’s stock valued at $137,000 after buying an additional 224 shares in the last quarter. Tyers Asset Management LLC boosted its position in Bank of the Ozarks by 9.3% in the first quarter. Tyers Asset Management LLC now owns 3,608 shares of the financial services provider’s stock valued at $188,000 after buying an additional 308 shares in the last quarter. EFG Asset Management Americas Corp. acquired a new position in Bank of the Ozarks during the first quarter valued at about $206,000. Asset Management One Co. Ltd. acquired a new position in Bank of the Ozarks during the fourth quarter valued at about $236,000. Finally, Creative Planning boosted its position in Bank of the Ozarks by 46.0% in the first quarter. Creative Planning now owns 4,556 shares of the financial services provider’s stock valued at $237,000 after buying an additional 1,436 shares in the last quarter. 85.52% of the stock is owned by hedge funds and other institutional investors.
Bank of the Ozarks (OZRK) traded down 2.07% during mid-day trading on Thursday, reaching $43.56. The company’s stock had a trading volume of 884,962 shares. Bank of the Ozarks has a 12 month low of $35.30 and a 12 month high of $56.86. The firm has a market capitalization of $5.63 billion, a PE ratio of 15.84 and a beta of 1.52. The stock’s 50-day moving average is $46.97 and its 200-day moving average is $49.92.
Bank of the Ozarks (NASDAQ:OZRK) last issued its quarterly earnings data on Wednesday, July 12th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.73. Bank of the Ozarks had a net margin of 46.15% and a return on equity of 11.75%. The company had revenue of $237.30 million during the quarter, compared to the consensus estimate of $232.85 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The firm’s revenue was up 64.8% compared to the same quarter last year. On average, equities analysts anticipate that Bank of the Ozarks will post $2.97 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 14th were given a dividend of $0.18 per share. This is an increase from Bank of the Ozarks’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $0.72 annualized dividend and a dividend yield of 1.65%. Bank of the Ozarks’s dividend payout ratio is currently 25.35%.
Several research analysts have recently issued reports on the company. Stephens set a $48.00 price objective on Bank of the Ozarks and gave the stock a “hold” rating in a research report on Thursday. Brean Capital set a $59.00 target price on Bank of the Ozarks and gave the company a “buy” rating in a report on Saturday, June 3rd. Morgan Stanley started coverage on Bank of the Ozarks in a report on Wednesday. They issued an “overweight” rating and a $54.00 target price for the company. BidaskClub raised Bank of the Ozarks from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Finally, Keefe, Bruyette & Woods set a $56.00 target price on Bank of the Ozarks and gave the company a “buy” rating in a report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $52.11.
In other news, Director Peter C. Kenny sold 1,034 shares of the stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $46.00, for a total transaction of $47,564.00. Following the completion of the sale, the director now owns 8,600 shares of the company’s stock, valued at $395,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.70% of the stock is owned by corporate insiders.
Bank of the Ozarks Company Profile
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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