HighTower Advisors LLC Purchases Shares of 16,887 Bank of the Ozarks (NASDAQ:OZRK)
HighTower Advisors LLC purchased a new stake in shares of Bank of the Ozarks (NASDAQ:OZRK) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,887 shares of the financial services provider’s stock, valued at approximately $883,000.
Other large investors have also recently modified their holdings of the company. Bellwether Investment Group LLC increased its stake in Bank of the Ozarks by 0.4% in the first quarter. Bellwether Investment Group LLC now owns 5,162 shares of the financial services provider’s stock worth $268,000 after buying an additional 22 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Bank of the Ozarks by 4.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 527,393 shares of the financial services provider’s stock valued at $27,430,000 after buying an additional 23,322 shares during the period. Bank of Montreal Can raised its position in shares of Bank of the Ozarks by 86.4% in the first quarter. Bank of Montreal Can now owns 660,685 shares of the financial services provider’s stock valued at $34,362,000 after buying an additional 306,284 shares during the period. Nordea Investment Management AB raised its position in shares of Bank of the Ozarks by 5.2% in the first quarter. Nordea Investment Management AB now owns 564,002 shares of the financial services provider’s stock valued at $29,334,000 after buying an additional 28,069 shares during the period. Finally, Norges Bank purchased a new position in Bank of the Ozarks during the fourth quarter worth about $37,239,000. Institutional investors and hedge funds own 85.52% of the company’s stock.
Shares of Bank of the Ozarks (OZRK) traded up 0.46% during trading on Friday, hitting $43.76. 814,389 shares of the company’s stock were exchanged. Bank of the Ozarks has a 1-year low of $35.30 and a 1-year high of $56.86. The stock has a market cap of $5.61 billion, a PE ratio of 15.39 and a beta of 1.52. The stock’s 50-day moving average price is $46.97 and its 200-day moving average price is $49.92.
Bank of the Ozarks (NASDAQ:OZRK) last released its earnings results on Wednesday, July 12th. The financial services provider reported $0.73 EPS for the quarter, hitting analysts’ consensus estimates of $0.73. Bank of the Ozarks had a return on equity of 11.75% and a net margin of 46.15%. The firm had revenue of $237.30 million for the quarter, compared to analysts’ expectations of $232.85 million. During the same period in the prior year, the firm posted $0.60 earnings per share. The company’s quarterly revenue was up 64.8% on a year-over-year basis. On average, equities analysts expect that Bank of the Ozarks will post $2.97 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 21st. Stockholders of record on Friday, July 14th were paid a $0.18 dividend. This is a boost from Bank of the Ozarks’s previous quarterly dividend of $0.18. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Wednesday, July 12th. Bank of the Ozarks’s dividend payout ratio is currently 25.35%.
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OZRK has been the topic of a number of research analyst reports. Brean Capital reiterated a “buy” rating and issued a $59.00 target price on shares of Bank of the Ozarks in a research note on Friday, July 14th. Keefe, Bruyette & Woods set a $56.00 price target on shares of Bank of the Ozarks and gave the stock a “buy” rating in a research report on Thursday, July 6th. Stephens set a $64.00 price objective on shares of Bank of the Ozarks and gave the stock a “buy” rating in a report on Thursday, June 22nd. Zacks Investment Research downgraded shares of Bank of the Ozarks from a “buy” rating to a “hold” rating in a report on Thursday, April 13th. Finally, BidaskClub raised shares of Bank of the Ozarks from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $52.11.
In related news, Director Peter C. Kenny sold 1,034 shares of the stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $46.00, for a total transaction of $47,564.00. Following the sale, the director now directly owns 8,600 shares of the company’s stock, valued at $395,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.70% of the company’s stock.
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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