Trading Report: The Bank of the Ozarks Inc. (OZRK) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

The Bank of the Ozarks Inc. (OZRK) Announces Quarterly  Earnings Results, Beats Estimates By $0.06 EPS

Bank of the Ozarks Inc. (NASDAQ:OZRK) issued its quarterly earnings data on Tuesday. 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 return on equity of 13.95% and a net margin of 35.99%. During the same quarter last year, the firm posted $0.54 earnings per share.

Bank of the Ozarks (NASDAQ:OZRK) opened at 38.62 on Thursday. The firm’s 50-day moving average price is $38.84 and its 200-day moving average price is $38.82. Bank of the Ozarks has a 12-month low of $33.51 and a 12-month high of $54.96. The company has a market cap of $4.68 billion, a P/E ratio of 17.02 and a beta of 1.32.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Friday, October 14th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Wednesday, October 12th. This is an increase from Bank of the Ozarks’s previous quarterly dividend of $0.16. Bank of the Ozarks’s dividend payout ratio (DPR) is currently 28.32%.

A number of research firms have commented on OZRK. Zacks Investment Research raised Bank of the Ozarks from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $46.00 target price on shares of Bank of the Ozarks in a report on Tuesday, July 12th. Rafferty Capital Markets began coverage on Bank of the Ozarks in a report on Friday, September 16th. They set a “buy” rating and a $46.00 target price on the stock. Raymond James Financial Inc. raised Bank of the Ozarks from a “market perform” rating to an “outperform” rating and set a $51.00 target price on the stock in a report on Thursday, August 25th. Finally, Wells Fargo & Co. began coverage on Bank of the Ozarks in a report on Thursday, June 23rd. They set a “market perform” rating on the stock. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $47.20.

In other Bank of the Ozarks news, Director Walter J. Mullen III bought 1,130 shares of Bank of the Ozarks stock in a transaction dated Tuesday, August 2nd. The shares were acquired at an average cost of $35.28 per share, with a total value of $39,866.40. Following the acquisition, the director now directly owns 2,650 shares of the company’s stock, valued at $93,492. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Walter J. Mullen III bought 1,120 shares of Bank of the Ozarks stock in a transaction dated Wednesday, August 10th. The stock was acquired at an average cost of $37.14 per share, for a total transaction of $41,596.80. Following the completion of the acquisition, the director now directly owns 3,775 shares in the company, valued at $140,203.50. The disclosure for this purchase can be found here. 8.70% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Commonwealth Equity Services Inc increased its position in shares of Bank of the Ozarks by 14.9% in the first quarter. Commonwealth Equity Services Inc now owns 7,373 shares of the financial services provider’s stock valued at $309,000 after buying an additional 958 shares during the last quarter. Aperio Group LLC increased its position in shares of Bank of the Ozarks by 34.5% in the first quarter. Aperio Group LLC now owns 8,552 shares of the financial services provider’s stock valued at $359,000 after buying an additional 2,192 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Bank of the Ozarks by 92.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 27,010 shares of the financial services provider’s stock valued at $1,134,000 after buying an additional 13,010 shares during the last quarter. Teachers Advisors Inc. increased its position in shares of Bank of the Ozarks by 1.8% in the first quarter. Teachers Advisors Inc. now owns 133,660 shares of the financial services provider’s stock valued at $5,610,000 after buying an additional 2,334 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Bank of the Ozarks by 12.3% in the first quarter. Prudential Financial Inc. now owns 61,422 shares of the financial services provider’s stock valued at $2,578,000 after buying an additional 6,724 shares during the last quarter. 71.41% of the stock is currently owned by institutional investors and hedge funds.

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