Bank of the Ozarks Inc. (OZRK) to Issue Quarterly Dividend of $0.17 on October 21st
Bank of the Ozarks Inc. (NASDAQ:OZRK) declared a quarterly dividend on Tuesday, October 4th. Shareholders of record on Friday, October 14th will be paid a dividend of 0.165 per share by the financial services provider on Friday, October 21st. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.60%. 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 (NASDAQ:OZRK) opened at 41.36 on Tuesday. The firm’s 50 day moving average price is $38.79 and its 200-day moving average price is $38.81. The firm has a market cap of $5.01 billion, a PE ratio of 18.23 and a beta of 1.32. Bank of the Ozarks has a one year low of $33.51 and a one year high of $54.96.
In related news, Director Walter J. Mullen III purchased 1,130 shares of Bank of the Ozarks stock in a transaction dated Tuesday, August 2nd. The stock was bought at an average cost of $35.28 per share, for a total transaction of $39,866.40. Following the transaction, the director now owns 2,650 shares in the company, valued at $93,492. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Walter J. Mullen III purchased 1,120 shares of Bank of the Ozarks stock in a transaction dated Wednesday, August 10th. The shares were bought at an average price of $37.14 per share, with a total value of $41,596.80. Following the completion of the transaction, the director now owns 3,775 shares in the company, valued at approximately $140,203.50. The disclosure for this purchase can be found here. 8.70% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of OZRK. Comerica Bank increased its stake in Bank of the Ozarks by 2.9% in the second quarter. Comerica Bank now owns 56,512 shares of the financial services provider’s stock worth $2,112,000 after buying an additional 1,580 shares during the last quarter. AXA increased its stake in Bank of the Ozarks by 40.1% in the second quarter. AXA now owns 87,150 shares of the financial services provider’s stock worth $3,270,000 after buying an additional 24,954 shares during the last quarter. Alliancebernstein L.P. increased its stake in Bank of the Ozarks by 20.9% in the second quarter. Alliancebernstein L.P. now owns 159,782 shares of the financial services provider’s stock worth $5,995,000 after buying an additional 27,620 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Bank of the Ozarks during the second quarter worth about $1,421,000. Finally, Employees Retirement System of Texas bought a new stake in Bank of the Ozarks during the second quarter worth about $3,264,000. Institutional investors own 71.41% of the company’s stock.
A number of research firms have recently commented on OZRK. Zacks Investment Research upgraded Bank of the Ozarks from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Raymond James Financial Inc. raised Bank of the Ozarks from a “market perform” rating to an “outperform” rating and set a $51.00 price target on the stock in a report on Thursday, August 25th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $46.00 price target on shares of Bank of the Ozarks in a report on Tuesday, July 12th. Rafferty Capital Markets assumed coverage on Bank of the Ozarks in a report on Friday, September 16th. They set a “buy” rating and a $46.00 price target on the stock. Finally, Wells Fargo & Co. assumed 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 issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $47.20.
Bank of the Ozarks Company Profile
Bank of the Ozarks, Inc is a bank holding company. The Company owns an Arkansas state chartered subsidiary bank, Bank of the Ozarks (the Bank). The Company, through the Bank, conducts operations through approximately 257 offices, including over 80 offices in Arkansas, approximately 30 in Georgia, over 20 in North Carolina, over 20 in Texas, approximately 44 in Florida, over three in Alabama, approximately two each in South Carolina and New York, and one in California.
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