Piper Jaffray Companies reaffirmed their overweight rating on shares of Bank of the Ozarks (NASDAQ:OZRK) in a research report released on Thursday morning, Marketbeat.com reports. The brokerage currently has a $55.00 price target on the financial services provider’s stock.

A number of other analysts have also recently issued reports on OZRK. BidaskClub upgraded shares of Bank of the Ozarks from a sell rating to a hold rating in a research note on Saturday, June 10th. Stephens set a $64.00 price target on shares of Bank of the Ozarks and gave the company a buy rating in a research report on Thursday, June 22nd. Keefe, Bruyette & Woods set a $56.00 price target on shares of Bank of the Ozarks and gave the company a buy rating in a research report on Thursday, July 6th. Brean Capital reissued a buy rating and issued a $59.00 price target on shares of Bank of the Ozarks in a research report on Friday, July 14th. Finally, Morgan Stanley started coverage on shares of Bank of the Ozarks in a research report on Wednesday, August 2nd. They issued an overweight rating and a $54.00 price target on the stock. One investment 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’s stock. Bank of the Ozarks currently has an average 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, hitting $48.11. 709,715 shares of the stock traded hands. The firm has a market cap of $6.17 billion, a P/E ratio of 16.92 and a beta of 1.54. Bank of the Ozarks has a 1-year low of $35.53 and a 1-year high of $56.86. The company has a 50-day moving average price of $44.22 and a 200-day moving average price of $46.39.

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 (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.73. The firm had revenue of $237.30 million during the quarter, compared to analysts’ expectations of $232.85 million. Bank of the Ozarks had a net margin of 46.15% and a return on equity of 11.75%. The company’s revenue was up 64.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 earnings per share. Analysts predict that Bank of the Ozarks will post $2.97 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, October 13th will be given a $0.185 dividend. This is a positive change 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 dividend yield of 1.54%. Bank of the Ozarks’s dividend payout ratio (DPR) is currently 25.35%.

Several large investors have recently added to or reduced their stakes in the company. Tandem Investment Advisors Inc. raised its position in shares of Bank of the Ozarks by 7.7% in the second quarter. Tandem Investment Advisors Inc. now owns 81,180 shares of the financial services provider’s stock valued at $3,805,000 after purchasing an additional 5,837 shares during the period. Colony Group LLC bought a new position in shares of Bank of the Ozarks in the second quarter valued at approximately $1,940,000. Verition Fund Management LLC bought a new position in shares of Bank of the Ozarks in the second quarter valued at approximately $242,000. Grandeur Peak Global Advisors LLC raised its position in shares of Bank of the Ozarks by 20.3% in the second quarter. Grandeur Peak Global Advisors LLC now owns 128,700 shares of the financial services provider’s stock valued at $6,032,000 after purchasing an additional 21,675 shares during the period. Finally, Sterling Capital Management LLC raised its position in shares of Bank of the Ozarks by 6.7% in the second quarter. Sterling Capital Management LLC now owns 36,245 shares of the financial services provider’s stock valued at $1,699,000 after purchasing an additional 2,277 shares during the period. 86.70% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Bank of the Ozarks (NASDAQ:OZRK)

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