Zacks Investment Research Lowers Bank Of The Ozarks (OZRK) to Hold
Bank Of The Ozarks (NASDAQ:OZRK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
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 along with benefits from lower tax rates will 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. Further, a stretched valuation indicates limited upside potential for the stock.”
Several other research analysts have also recently issued reports on OZRK. Brean Capital reaffirmed a “buy” rating on shares of Bank Of The Ozarks in a report on Tuesday. Barclays began coverage on Bank Of The Ozarks in a report on Wednesday. They issued an “overweight” rating and a $60.00 price target on the stock. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $55.00 price target on shares of Bank Of The Ozarks in a report on Thursday, October 5th. Morgan Stanley reaffirmed an “overweight” rating and issued a $54.00 price target on shares of Bank Of The Ozarks in a report on Thursday, December 14th. Finally, Raymond James Financial dropped their price target on Bank Of The Ozarks from $59.00 to $57.00 and set an “outperform” rating on the stock in a report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $54.89.
Bank Of The Ozarks (OZRK) opened at $48.51 on Thursday. The stock has a market capitalization of $6,251.17, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 1.20 and a beta of 1.49. Bank Of The Ozarks has a twelve month low of $40.15 and a twelve month high of $56.86.
Bank Of The Ozarks (NASDAQ:OZRK) last posted its quarterly earnings results on Wednesday, October 11th. The financial services provider reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.01. The company had revenue of $242.47 million for 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 quarter in the prior year, the company earned $0.66 earnings per share. sell-side analysts predict that Bank Of The Ozarks will post 2.95 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in the business. BRYN MAWR TRUST Co raised its stake in Bank Of The Ozarks by 1.0% during the 2nd quarter. BRYN MAWR TRUST Co now owns 7,764 shares of the financial services provider’s stock valued at $364,000 after purchasing an additional 75 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Bank Of The Ozarks by 1.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,778 shares of the financial services provider’s stock valued at $271,000 after purchasing an additional 92 shares during the period. Suntrust Banks Inc. raised its stake in Bank Of The Ozarks by 7.4% during the 2nd quarter. Suntrust Banks Inc. now owns 5,587 shares of the financial services provider’s stock valued at $261,000 after purchasing an additional 383 shares during the period. MML Investors Services LLC raised its stake in Bank Of The Ozarks by 7.7% during the 2nd quarter. MML Investors Services LLC now owns 5,573 shares of the financial services provider’s stock valued at $261,000 after purchasing an additional 400 shares during the period. Finally, Advisor Group Inc. raised its stake in Bank Of The Ozarks by 8.4% during the 2nd quarter. Advisor Group Inc. now owns 8,586 shares of the financial services provider’s stock valued at $371,000 after purchasing an additional 665 shares during the period. 84.97% of the stock is currently owned by institutional investors.
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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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