Jennison Associates LLC Sells 263,827 Shares of Bank of the Ozarks (OZRK)
Jennison Associates LLC lessened its stake in Bank of the Ozarks (NASDAQ:OZRK) by 13.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,706,123 shares of the financial services provider’s stock after selling 263,827 shares during the quarter. Jennison Associates LLC owned approximately 1.32% of Bank of the Ozarks worth $81,979,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Exane Derivatives bought a new position in shares of Bank of the Ozarks in the second quarter valued at approximately $119,000. V Wealth Management LLC bought a new position in shares of Bank of the Ozarks in the second quarter valued at approximately $174,000. BB&T Investment Services Inc. bought a new position in shares of Bank of the Ozarks in the second quarter valued at approximately $190,000. Opus Capital Group LLC bought a new position in shares of Bank of the Ozarks in the second quarter valued at approximately $203,000. Finally, Cigna Investments Inc. New bought a new position in shares of Bank of the Ozarks in the second quarter valued at approximately $221,000. Institutional investors own 87.84% of the company’s stock.
OZRK has been the topic of a number of recent analyst reports. BidaskClub lowered Bank of the Ozarks from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Stephens set a $48.00 price target on Bank of the Ozarks and gave the stock a “hold” rating in a report on Friday, July 28th. Morgan Stanley initiated coverage on Bank of the Ozarks in a report on Wednesday, August 2nd. They set an “overweight” rating and a $54.00 price target on the stock. Brean Capital reiterated a “buy” rating on shares of Bank of the Ozarks in a report on Wednesday, August 2nd. Finally, Zacks Investment Research upgraded 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 six have assigned a buy rating to the company. Bank of the Ozarks currently has an average rating of “Hold” and an average price target of $54.13.
Bank of the Ozarks (OZRK) traded down $0.02 during trading hours on Monday, reaching $43.06. The company’s stock had a trading volume of 733,600 shares, compared to its average volume of 1,235,031. The company has a quick ratio of 0.99, a current ratio of 0.93 and a debt-to-equity ratio of 0.07. Bank of the Ozarks has a twelve month low of $40.15 and a twelve month high of $56.86. The stock has a market capitalization of $5,490.00, a P/E ratio of 14.70, a P/E/G ratio of 1.21 and a beta of 1.51.
Bank of the Ozarks (NASDAQ:OZRK) last announced its quarterly earnings results on Wednesday, October 11th. The financial services provider reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.01. The company had revenue of $242.47 million during the quarter, compared to analysts’ expectations of $243.67 million. Bank of the Ozarks had a return on equity of 11.85% and a net margin of 65.67%. During the same period in the previous year, the business earned $0.66 earnings per share. analysts forecast that Bank of the Ozarks will post 2.96 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 20th. Stockholders of record on Friday, October 13th were given a $0.185 dividend. The ex-dividend date was 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 1.72%. Bank of the Ozarks’s payout ratio is 27.31%.
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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