Alpine Global Management LLC Invests $580,000 in Bank of the Ozarks (OZRK) Stock
Alpine Global Management LLC bought a new stake in Bank of the Ozarks (NASDAQ:OZRK) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 12,382 shares of the financial services provider’s stock, valued at approximately $580,000.
A number of other large investors have also recently bought and sold shares of the business. Cubist Systematic Strategies LLC acquired a new position in Bank of the Ozarks in the 2nd quarter valued at about $830,000. BlueCrest Capital Management Ltd acquired a new position in Bank of the Ozarks in the 2nd quarter valued at about $5,779,000. State Street Corp boosted its holdings in Bank of the Ozarks by 6.3% in the 2nd quarter. State Street Corp now owns 6,091,667 shares of the financial services provider’s stock valued at $285,516,000 after purchasing an additional 363,391 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Bank of the Ozarks by 2.7% in the 2nd quarter. Janus Henderson Group PLC now owns 888,974 shares of the financial services provider’s stock valued at $41,666,000 after purchasing an additional 23,296 shares during the last quarter. Finally, Shelton Capital Management acquired a new position in Bank of the Ozarks in the 2nd quarter valued at about $429,000. Institutional investors own 86.70% of the company’s stock.
Bank of the Ozarks (NASDAQ OZRK) traded down 0.64% during midday trading on Friday, hitting $48.11. 709,715 shares of the stock were exchanged. The firm has a 50 day moving average of $44.22 and a 200-day moving average of $46.39. Bank of the Ozarks has a 12-month low of $35.53 and a 12-month high of $56.86. The stock has a market cap of $6.17 billion, a price-to-earnings ratio of 16.92 and a beta of 1.54.
Bank of the Ozarks (NASDAQ:OZRK) last released its earnings results on Wednesday, July 12th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.73. Bank of the Ozarks had a net margin of 46.15% and a return on equity of 11.75%. The business had revenue of $237.30 million for the quarter, compared to analysts’ expectations of $232.85 million. During the same period last year, the company earned $0.60 earnings per share. The company’s quarterly revenue was up 64.8% on a year-over-year basis. On average, equities analysts expect that Bank of the Ozarks will post $2.97 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, October 13th will be given a $0.185 dividend. The ex-dividend date is Thursday, October 12th. This is a boost from Bank of the Ozarks’s previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a dividend yield of 1.54%. Bank of the Ozarks’s dividend payout ratio (DPR) is currently 25.35%.
Several equities analysts have weighed in on OZRK shares. BidaskClub lowered shares of Bank of the Ozarks from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Zacks Investment Research upgraded shares of Bank of the Ozarks from a “sell” rating to a “hold” rating in a report on Monday, August 28th. Stephens set a $64.00 target price on shares of Bank of the Ozarks and gave the company a “buy” rating in a report on Thursday, June 22nd. Brean Capital reiterated a “buy” rating and issued a $59.00 target price on shares of Bank of the Ozarks in a report on Friday, July 14th. Finally, Keefe, Bruyette & Woods set a $56.00 target price on shares of Bank of the Ozarks and gave the company a “buy” rating in a report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $52.57.
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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