Bank Of The Ozarks (NASDAQ:OZRK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $55.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.25% from the company’s current price.
According to Zacks, “Shares of Bank of the Ozarks have underperformed the industry over the last six months. Yet, the company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the trailing four quarters. Consistent growth in loans and deposits, and easing margin pressure will continue to aid the company’s profitability. Also, its efficient capital deployment activities represent a solid balance sheet position. However, persistently rising operating expenses due to the company’s expansion strategy through de novo branching are expected to curb bottom-line growth.”
Other research analysts have also recently issued research reports about the stock. Raymond James Financial dropped their price objective on shares of Bank Of The Ozarks from $59.00 to $57.00 and set an “outperform” rating for the company in a report on Thursday, October 12th. ValuEngine cut shares of Bank Of The Ozarks from a “buy” rating to a “hold” rating in a report on Friday, September 1st. SunTrust Banks reiterated a “hold” rating and set a $50.00 price target on shares of Bank Of The Ozarks in a report on Thursday, October 12th. Morgan Stanley reiterated an “overweight” rating and set a $54.00 price target on shares of Bank Of The Ozarks in a report on Thursday, December 14th. Finally, Brean Capital restated a “buy” rating on shares of Bank Of The Ozarks in a report on Monday, October 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Bank Of The Ozarks currently has a consensus rating of “Buy” and a consensus target price of $54.25.
Bank Of The Ozarks (NASDAQ:OZRK) last announced its quarterly earnings data on Wednesday, October 11th. The financial services provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The firm had revenue of $242.47 million during the quarter, compared to analysts’ expectations of $243.67 million. Bank Of The Ozarks had a net margin of 65.67% and a return on equity of 11.85%. During the same quarter in the previous year, the business posted $0.66 earnings per share. equities research analysts forecast that Bank Of The Ozarks will post 2.95 earnings per share for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Sabal Trust CO purchased a new position in Bank Of The Ozarks during the 3rd quarter worth $460,000. American Century Companies Inc. increased its holdings in shares of Bank Of The Ozarks by 15.0% in the 2nd quarter. American Century Companies Inc. now owns 1,155,532 shares of the financial services provider’s stock valued at $54,160,000 after purchasing an additional 150,562 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Bank Of The Ozarks by 4.8% in the 2nd quarter. BlackRock Inc. now owns 10,457,898 shares of the financial services provider’s stock valued at $490,162,000 after purchasing an additional 480,415 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Bank Of The Ozarks by 144.6% in the 2nd quarter. Principal Financial Group Inc. now owns 3,138,880 shares of the financial services provider’s stock valued at $147,117,000 after purchasing an additional 1,855,697 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Bank Of The Ozarks by 3.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,183,865 shares of the financial services provider’s stock valued at $55,486,000 after purchasing an additional 41,961 shares in the last quarter. Hedge funds and other institutional investors own 84.97% of the company’s stock.
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Bank Of The Ozarks Company 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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