Bank of the Ozarks (OZRK) Given “Overweight” Rating at Piper Jaffray Companies
Piper Jaffray Companies restated their overweight rating on shares of Bank of the Ozarks (NASDAQ:OZRK) in a report released on Thursday. The brokerage currently has a $55.00 price objective on the financial services provider’s stock.
A number of other research analysts have also weighed in on OZRK. BidaskClub raised Bank of the Ozarks from a sell rating to a hold rating in a report on Saturday, June 10th. Stephens set a $64.00 target price on Bank of the Ozarks and gave the company a buy rating in a report on Thursday, June 22nd. Keefe, Bruyette & Woods set a $56.00 price objective on Bank of the Ozarks and gave the stock a buy rating in a report on Thursday, July 6th. Brean Capital reissued a buy rating and set a $59.00 price objective on shares of Bank of the Ozarks in a report on Friday, July 14th. Finally, Morgan Stanley initiated coverage on Bank of the Ozarks in a report on Wednesday, August 2nd. They set an overweight rating and a $54.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $52.57.
Bank of the Ozarks (NASDAQ OZRK) traded down 0.64% during midday trading on Thursday, reaching $48.11. 709,715 shares of the company traded hands. The firm has a 50-day moving average price of $44.01 and a 200-day moving average price of $46.43. Bank of the Ozarks has a one year low of $35.53 and a one year high of $56.86. The firm has a market capitalization of $6.17 billion, a price-to-earnings ratio of 16.92 and a beta of 1.54.
Bank of the Ozarks (NASDAQ:OZRK) last posted its earnings results on Wednesday, July 12th. The financial services provider reported $0.73 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.73. The business had revenue of $237.30 million during the quarter, compared to analyst estimates of $232.85 million. Bank of the Ozarks had a return on equity of 11.75% and a net margin of 46.15%. The company’s quarterly revenue was up 64.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 EPS. Equities analysts predict that Bank of the Ozarks will post $2.97 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, October 13th will be given a $0.185 dividend. This is an increase from Bank of the Ozarks’s previous quarterly dividend of $0.18. The ex-dividend date is Thursday, October 12th. This represents a $0.74 dividend on an annualized basis and a yield of 1.54%. Bank of the Ozarks’s payout ratio is presently 25.35%.
Large investors have recently added to or reduced their stakes in the stock. Exane Derivatives bought a new stake in Bank of the Ozarks in the 2nd quarter worth approximately $119,000. V Wealth Management LLC bought a new stake in Bank of the Ozarks in the 2nd quarter worth approximately $174,000. BB&T Investment Services Inc. bought a new stake in Bank of the Ozarks in the 2nd quarter worth approximately $190,000. Opus Capital Group LLC bought a new stake in Bank of the Ozarks in the 2nd quarter worth approximately $203,000. Finally, Cigna Investments Inc. New bought a new stake in Bank of the Ozarks in the 2nd quarter worth approximately $221,000. Institutional investors own 86.70% of the company’s stock.
About Bank of the Ozarks
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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