Bank of the Ozarks Inc. (OZRK) Sees Large Volume Increase
Bank of the Ozarks Inc. (NASDAQ:OZRK) saw an uptick in trading volume on Wednesday . 1,949,385 shares changed hands during trading, a decline of 6% from the previous session’s volume of 2,064,807 shares.The stock last traded at $38.28 and had previously closed at $39.36.
Several brokerages have recently issued reports on OZRK. Zacks Investment Research upgraded shares of Bank of the Ozarks from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Keefe, Bruyette & Woods restated a “buy” rating and set a $46.00 target price on shares of Bank of the Ozarks in a research report on Tuesday, July 12th. Wells Fargo & Co. began coverage on shares of Bank of the Ozarks in a research report on Thursday, June 23rd. They set a “market perform” rating on the stock. FIG Partners upgraded shares of Bank of the Ozarks from a “market perform” rating to an “outperform” rating in a research report on Monday, May 9th. Finally, Piper Jaffray Cos. raised shares of Bank of the Ozarks from a “neutral” rating to an “overweight” rating and set a $46.00 price objective on the stock in a research report on Friday, May 6th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $47.60.
The stock has a market cap of $3.39 billion and a P/E ratio of 16.4643. The firm has a 50 day moving average price of $37.80 and a 200-day moving average price of $40.46.
Bank of the Ozarks (NASDAQ:OZRK) last announced its earnings results on Monday, July 11th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.01. During the same quarter last year, the business posted $0.51 earnings per share. On average, equities research analysts predict that Bank of the Ozarks Inc. will post $2.43 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 22nd. Stockholders of record on Friday, July 15th will be given a $0.16 dividend. This is an increase from Bank of the Ozarks’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Wednesday, July 13th. This represents a $0.64 annualized dividend and a dividend yield of 1.72%.
In related news, insider Dan Thomas bought 6,000 shares of the company’s stock in a transaction dated Friday, May 20th. The shares were acquired at an average price of $37.50 per share, for a total transaction of $225,000.00. Following the completion of the transaction, the insider now directly owns 107,307 shares in the company, valued at $4,024,012.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William A. Koefoed bought 1,000 shares of the company’s stock in a transaction dated Thursday, April 28th. The stock was bought at an average price of $41.78 per share, for a total transaction of $41,780.00. Following the transaction, the director now owns 1,589 shares of the company’s stock, valued at $66,388.42. The disclosure for this purchase can be found here.
Several hedge funds recently made changes to their positions in OZRK. Dimensional Fund Advisors LP raised its stake in shares of Bank of the Ozarks by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,524,991 shares of the financial services provider’s stock valued at $75,428,000 after buying an additional 19,482 shares during the period. US Bancorp DE raised its stake in shares of Bank of the Ozarks by 76.0% in the fourth quarter. US Bancorp DE now owns 21,704 shares of the financial services provider’s stock valued at $1,074,000 after buying an additional 9,370 shares during the period. Alpine Woods Capital Investors LLC raised its position in Bank of the Ozarks by 95.2% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 32,800 shares of the financial services provider’s stock worth $1,622,000 after buying an additional 16,000 shares during the last quarter. Eaton Vance Management raised its position in Bank of the Ozarks by 127.6% in the fourth quarter. Eaton Vance Management now owns 277,465 shares of the financial services provider’s stock worth $13,723,000 after buying an additional 155,540 shares during the last quarter. Finally, Suntrust Banks Inc. acquired a new position in Bank of the Ozarks during the fourth quarter worth $1,254,000.
Bank of the Ozarks, Inc is a bank holding company. The Company owns an Arkansas state chartered subsidiary bank, Bank of the Ozarks. The Company provides a range of retail and commercial banking services. The Company provides mortgage lending, trust and wealth management services, treasury management services and online and mobile banking services.
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