Bank of the Ozarks (OZRK) Issues Quarterly Earnings Results
Bank of the Ozarks (NASDAQ:OZRK) announced its earnings results on Wednesday, July 12th. The financial services provider reported $0.73 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.73, MarketWatch Earnings reports. 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 the consensus estimate of $232.85 million. During the same quarter in the previous year, the business earned $0.60 EPS. The company’s revenue was up 64.8% compared to the same quarter last year.
Shares of Bank of the Ozarks (NASDAQ OZRK) traded up 0.46% during midday trading on Friday, reaching $43.76. 814,389 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $46.97 and a 200-day moving average of $49.92. The stock has a market cap of $5.61 billion, a price-to-earnings ratio of 15.39 and a beta of 1.52. Bank of the Ozarks has a one year low of $35.30 and a one year high of $56.86.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 21st. Shareholders of record on Friday, July 14th were issued a dividend of $0.18 per share. This is a boost 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 dividend on an annualized basis and a yield of 1.65%. Bank of the Ozarks’s payout ratio is presently 25.35%.
In other news, Director Peter C. Kenny sold 1,034 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $46.00, for a total value of $47,564.00. Following the sale, the director now directly owns 8,600 shares of the company’s stock, valued at approximately $395,600. The transaction 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.
Hedge funds have recently added to or reduced their stakes in the stock. Exane Derivatives acquired a new stake in Bank of the Ozarks during the second quarter valued at approximately $119,000. Glen Harbor Capital Management LLC increased its stake 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 during the period. V Wealth Management LLC acquired a new stake in Bank of the Ozarks during the second quarter valued at approximately $174,000. Tyers Asset Management LLC increased its stake 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 during the period. Finally, Opus Capital Group LLC acquired a new stake in Bank of the Ozarks during the second quarter valued at approximately $203,000. 85.52% of the stock is currently owned by institutional investors and hedge funds.
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A number of brokerages have recently weighed in on OZRK. Brean Capital set a $59.00 target price on Bank of the Ozarks and gave the stock a “buy” rating in a research note on Saturday, June 3rd. Stephens set a $48.00 target price on Bank of the Ozarks and gave the stock a “hold” rating in a research note on Thursday. Zacks Investment Research downgraded Bank of the Ozarks from a “buy” rating to a “hold” rating in a research note on Thursday, April 13th. BidaskClub upgraded Bank of the Ozarks from a “strong sell” rating to a “sell” rating in a research note on Friday. Finally, Keefe, Bruyette & Woods set a $56.00 target price on Bank of the Ozarks and gave the stock a “buy” rating in a research note on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $52.11.
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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