Cape Cod Five Cents Savings Bank boosted its stake in Bank of the Ozarks (NASDAQ:OZRK) by 36.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,357 shares of the financial services provider’s stock after buying an additional 5,209 shares during the period. Cape Cod Five Cents Savings Bank’s holdings in Bank of the Ozarks were worth $908,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Glen Harbor Capital Management LLC increased its position in Bank of the Ozarks by 9.3% in the first quarter. Glen Harbor Capital Management LLC now owns 2,624 shares of the financial services provider’s stock valued at $137,000 after buying an additional 224 shares during the period. Tyers Asset Management LLC increased its position in shares of Bank of the Ozarks by 9.3% in the first quarter. Tyers Asset Management LLC now owns 3,608 shares of the financial services provider’s stock worth $188,000 after buying an additional 308 shares during the last quarter. EFG Asset Management Americas Corp. bought a new position in shares of Bank of the Ozarks during the first quarter worth approximately $206,000. Creative Planning increased its position in shares of Bank of the Ozarks by 46.0% in the first quarter. Creative Planning now owns 4,556 shares of the financial services provider’s stock worth $237,000 after buying an additional 1,436 shares during the last quarter. Finally, Flinton Capital Management LLC increased its position in shares of Bank of the Ozarks by 9.3% in the first quarter. Flinton Capital Management LLC now owns 4,592 shares of the financial services provider’s stock worth $239,000 after buying an additional 392 shares during the last quarter. 85.55% of the stock is currently owned by institutional investors and hedge funds.
Shares of Bank of the Ozarks (NASDAQ OZRK) traded down 12.26% during trading on Friday, reaching $41.74. 9,112,200 shares of the company were exchanged. Bank of the Ozarks has a one year low of $35.11 and a one year high of $56.86. The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of 14.68 and a beta of 1.54. The company has a 50 day moving average price of $47.23 and a 200-day moving average price of $50.10.
Bank of the Ozarks (NASDAQ:OZRK) last released its quarterly earnings results on Wednesday, July 12th. The financial services provider reported $0.73 earnings per share for the quarter, meeting the 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 firm had revenue of $237.30 million for the quarter, compared to analysts’ expectations of $232.85 million. During the same quarter last year, the firm posted $0.60 EPS. The company’s revenue was up 64.8% compared to the same quarter last year. Equities analysts predict that Bank of the Ozarks will post $2.97 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 21st. Shareholders of record on Friday, July 14th were issued a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $0.72 annualized dividend and a dividend yield of 1.72%. This is a boost from Bank of the Ozarks’s previous quarterly dividend of $0.18. Bank of the Ozarks’s dividend payout ratio (DPR) is presently 25.35%.
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OZRK has been the topic of a number of research analyst reports. BidaskClub downgraded shares of Bank of the Ozarks from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $56.00 price objective on shares of Bank of the Ozarks in a research report on Wednesday, May 3rd. Stephens set a $48.00 target price on shares of Bank of the Ozarks and gave the company a “hold” rating in a research note on Friday. Brean Capital set a $63.00 target price on shares of Bank of the Ozarks and gave the company a “buy” rating in a research note on Thursday, May 18th. Finally, Zacks Investment Research cut shares of Bank of the Ozarks from a “buy” rating to a “hold” rating in a research note on Thursday, April 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. Bank of the Ozarks presently has an average rating of “Hold” and a consensus target price of $51.88.
In other news, Director Walter J. Mullen III sold 1,034 shares of the stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $47.91, for a total transaction of $49,538.94. Following the transaction, the director now directly owns 3,400 shares in the company, valued at approximately $162,894. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dan Thomas sold 19,737 shares of the stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $47.37, for a total value of $934,941.69. Following the transaction, the insider now owns 110,624 shares in the company, valued at $5,240,258.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,805 shares of company stock worth $1,032,045. Insiders own 6.70% of the company’s stock.
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.
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