Bank of the Ozarks Inc. (NASDAQ:OZRK) declared a quarterly dividend on Tuesday, October 4th. Investors 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 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Wednesday, October 12th. This is a positive change from Bank of the Ozarks’s previous quarterly dividend of $0.16.
Bank of the Ozarks (NASDAQ:OZRK) opened at 40.13 on Friday. Bank of the Ozarks has a 12 month low of $33.51 and a 12 month high of $54.96. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 17.69 and a beta of 1.32. The company has a 50 day moving average price of $38.63 and a 200 day moving average price of $38.88.
Bank of the Ozarks (NASDAQ:OZRK) last posted its quarterly earnings data on Monday, July 11th. The financial services provider reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.01. Bank of the Ozarks had a return on equity of 13.95% and a net margin of 35.99%. During the same period in the previous year, the company earned $0.51 EPS. Analysts anticipate that Bank of the Ozarks will post $2.44 earnings per share for the current fiscal year.
Several analysts have issued reports on OZRK shares. Rafferty Capital Markets started coverage on Bank of the Ozarks in a research note on Friday, September 16th. They issued a “buy” rating and a $46.00 target price on the stock. Zacks Investment Research lowered Bank of the Ozarks from a “hold” rating to a “sell” rating in a research note on Monday, September 19th. Raymond James Financial Inc. upgraded 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 research note on Thursday, August 25th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $46.00 target price (down from $48.00) on shares of Bank of the Ozarks in a research note on Friday, June 24th. Finally, Wells Fargo & Co. started coverage on Bank of the Ozarks in a research note on Thursday, June 23rd. They issued a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $47.20.
In related news, Director Walter J. Mullen III acquired 1,120 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were bought at an average cost of $37.14 per share, for a total transaction of $41,596.80. Following the purchase, the director now owns 3,775 shares in the company, valued at approximately $140,203.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Walter J. Mullen III acquired 1,130 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were bought at an average price of $35.28 per share, for a total transaction of $39,866.40. Following the completion of the purchase, the director now owns 2,650 shares in the company, valued at approximately $93,492. The disclosure for this purchase can be found here. Corporate insiders own 8.70% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in OZRK. Bessemer Group Inc. raised its stake in Bank of the Ozarks by 132.0% in the second quarter. Bessemer Group Inc. now owns 3,579 shares of the financial services provider’s stock worth $135,000 after buying an additional 2,036 shares during the last quarter. Toronto Dominion Bank acquired a new position in shares of Bank of the Ozarks during the second quarter worth $135,000. Advisor Group Inc. acquired a new position in shares of Bank of the Ozarks during the second quarter worth $242,000. Pacer Advisors Inc. acquired a new position in shares of Bank of the Ozarks during the second quarter worth $266,000. Finally, Paradigm Asset Management Co. LLC acquired a new position in shares of Bank of the Ozarks during the second quarter worth $371,000. Institutional investors own 71.41% of the company’s stock.
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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