Vanguard Group Inc. Purchases 852,398 Shares of Bank of the Ozarks (OZRK)
Vanguard Group Inc. lifted its position in Bank of the Ozarks (NASDAQ:OZRK) by 8.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,724,158 shares of the financial services provider’s stock after acquiring an additional 852,398 shares during the quarter. Vanguard Group Inc. owned 8.37% of Bank of the Ozarks worth $502,641,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in OZRK. Exane Derivatives purchased a new stake in Bank of the Ozarks in the second quarter worth about $119,000. V Wealth Management LLC bought a new position in Bank of the Ozarks during the 2nd quarter worth about $174,000. Opus Capital Group LLC purchased a new position in Bank of the Ozarks during the 2nd quarter valued at about $203,000. Cigna Investments Inc. New purchased a new position in Bank of the Ozarks during the 2nd quarter valued at about $221,000. Finally, Edge Wealth Management LLC purchased a new position in Bank of the Ozarks during the 2nd quarter valued at about $235,000. Hedge funds and other institutional investors own 86.70% of the company’s stock.
Several equities research analysts have recently commented on OZRK shares. Brean Capital restated a “buy” rating on shares of Bank of the Ozarks in a report on Wednesday, August 2nd. Keefe, Bruyette & Woods set a $56.00 price target on shares of Bank of the Ozarks and gave the stock a “buy” rating in a research report on Thursday, July 6th. Stephens set a $64.00 price objective on shares of Bank of the Ozarks and gave the company a “buy” rating in a research note on Thursday, June 22nd. ValuEngine downgraded shares of Bank of the Ozarks from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research raised shares of Bank of the Ozarks from a “sell” rating to a “hold” rating in a report on Monday, August 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Bank of the Ozarks presently has a consensus rating of “Hold” and an average price target of $53.14.
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Bank of the Ozarks (NASDAQ:OZRK) opened at 48.20 on Wednesday. The stock has a market cap of $6.18 billion, a PE ratio of 16.95 and a beta of 1.54. The company’s 50 day moving average is $43.69 and its 200 day moving average is $46.40. Bank of the Ozarks has a one year low of $35.53 and a one year high of $56.86.
Bank of the Ozarks (NASDAQ:OZRK) last announced its quarterly earnings data on Wednesday, July 12th. The financial services provider reported $0.73 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.73. Bank of the Ozarks had a return on equity of 11.75% and a net margin of 46.15%. The company had revenue of $237.30 million for the quarter, compared to analyst estimates of $232.85 million. During the same quarter in the previous year, the company earned $0.60 EPS. The firm’s revenue for the quarter was up 64.8% compared to the same quarter last year. On average, equities research analysts expect that Bank of the Ozarks will post $2.97 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, October 13th will be paid a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Thursday, October 12th. This is a positive change from Bank of the Ozarks’s previous quarterly dividend of $0.18. Bank of the Ozarks’s dividend payout ratio is currently 25.35%.
Bank of the Ozarks Profile
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.
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