Teacher Retirement System of Texas boosted its stake in shares of Bank of the Ozarks Inc. (NASDAQ:OZRK) by 23.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,091 shares of the financial services provider’s stock after buying an additional 2,313 shares during the period. Teacher Retirement System of Texas’ holdings in Bank of the Ozarks were worth $454,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. NN Investment Partners Holdings N.V. purchased a new stake in shares of Bank of the Ozarks during the first quarter valued at $126,000. Bank of Montreal Can purchased a new stake in shares of Bank of the Ozarks during the second quarter valued at $138,000. LS Investment Advisors LLC increased its stake in shares of Bank of the Ozarks by 72.2% in the second quarter. LS Investment Advisors LLC now owns 4,889 shares of the financial services provider’s stock valued at $183,000 after buying an additional 2,050 shares in the last quarter. Raymond James Trust N.A. purchased a new stake in shares of Bank of the Ozarks during the second quarter valued at $203,000. Finally, M&T Bank Corp purchased a new stake in shares of Bank of the Ozarks during the second quarter valued at $205,000. Hedge funds and other institutional investors own 71.41% of the company’s stock.
Shares of Bank of the Ozarks Inc. (NASDAQ:OZRK) traded up 0.25% during trading on Friday, hitting $40.23. 471,638 shares of the stock traded hands. Bank of the Ozarks Inc. has a 1-year low of $33.51 and a 1-year high of $54.96. The company has a market cap of $4.87 billion, a PE ratio of 17.73 and a beta of 1.32. The company has a 50 day moving average of $38.63 and a 200-day moving average of $38.88.
Bank of the Ozarks (NASDAQ:OZRK) last announced its quarterly earnings results on Monday, July 11th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.01. Bank of the Ozarks had a net margin of 35.99% and a return on equity of 13.95%. During the same period last year, the firm posted $0.51 EPS. On average, equities analysts anticipate that Bank of the Ozarks Inc. will post $2.44 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Friday, October 14th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend is Wednesday, October 12th. This is a positive change from Bank of the Ozarks’s previous quarterly dividend of $0.16. Bank of the Ozarks’s payout ratio is 28.32%.
A number of research firms have commented on OZRK. Zacks Investment Research upgraded shares of Bank of the Ozarks from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Raymond James Financial Inc. upgraded shares of Bank of the Ozarks from a “market perform” rating to an “outperform” rating and set a $51.00 price target on the stock in a research report on Thursday, August 25th. Keefe, Bruyette & Woods restated a “buy” rating and set a $46.00 price target on shares of Bank of the Ozarks in a research report on Tuesday, July 12th. Rafferty Capital Markets began coverage on shares of Bank of the Ozarks in a research report on Friday, September 16th. They set a “buy” rating and a $46.00 price target on the stock. Finally, Wells Fargo & Co. began coverage on shares of Bank of the Ozarks in a research report on Thursday, June 23rd. They set a “market perform” rating on the stock. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Bank of the Ozarks has an average rating of “Buy” and a consensus target price of $47.20.
In other news, Director Walter J. Mullen III bought 1,120 shares of the stock in a transaction dated Wednesday, August 10th. The shares were acquired at an average price of $37.14 per share, with a total value of $41,596.80. Following the acquisition, the director now owns 3,775 shares in the company, valued at $140,203.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Walter J. Mullen III bought 1,130 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was purchased at an average cost of $35.28 per share, for a total transaction of $39,866.40. Following the acquisition, the director now owns 2,650 shares in the company, valued at approximately $93,492. The disclosure for this purchase can be found here. 8.70% of the stock is currently owned by company insiders.
About Bank of the Ozarks
Bank of the Ozarks, Inc is a bank holding company. The Company owns an Arkansas state chartered subsidiary bank, Bank of the Ozarks (the Bank). The Company, through the Bank, conducts operations through approximately 257 offices, including over 80 offices in Arkansas, approximately 30 in Georgia, over 20 in North Carolina, over 20 in Texas, approximately 44 in Florida, over three in Alabama, approximately two each in South Carolina and New York, and one in California.
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