Tandem Investment Advisors Inc. purchased a new position in Bank of the Ozarks (NASDAQ:OZRK) during the fourth quarter, Holdings Channel reports. The fund purchased 66,913 shares of the financial services provider’s stock, valued at approximately $3,519,000. Tandem Investment Advisors Inc. owned about 0.06% of Bank of the Ozarks at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. IFP Advisors Inc boosted its position in shares of Bank of the Ozarks by 620.3% in the second quarter. IFP Advisors Inc now owns 3,119 shares of the financial services provider’s stock worth $117,000 after buying an additional 2,686 shares during the last quarter. FNY Managed Accounts LLC acquired a new stake in Bank of the Ozarks during the third quarter valued at $142,000. Toronto Dominion Bank raised its stake in Bank of the Ozarks by 5.0% in the third quarter. Toronto Dominion Bank now owns 3,768 shares of the financial services provider’s stock valued at $145,000 after buying an additional 180 shares during the period. Creative Planning raised its stake in Bank of the Ozarks by 132.7% in the third quarter. Creative Planning now owns 4,671 shares of the financial services provider’s stock valued at $179,000 after buying an additional 2,664 shares during the period. Finally, Icon Advisers Inc. Co. acquired a new stake in Bank of the Ozarks during the third quarter valued at $215,000. Institutional investors own 91.19% of the company’s stock.
Bank of the Ozarks (NASDAQ:OZRK) traded down 0.05% during trading on Monday, hitting $55.53. The company had a trading volume of 852,294 shares. The company’s 50 day moving average price is $53.71 and its 200-day moving average price is $44.11. Bank of the Ozarks has a 1-year low of $33.51 and a 1-year high of $56.49. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of 21.52 and a beta of 1.51.
Bank of the Ozarks (NASDAQ:OZRK) last released its earnings results on Tuesday, January 17th. The financial services provider reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.03. The firm had revenue of $225.40 million for the quarter, compared to analysts’ expectations of $215.69 million. Bank of the Ozarks had a return on equity of 12.55% and a net margin of 35.19%. During the same quarter in the prior year, the firm posted $0.57 earnings per share. On average, analysts expect that Bank of the Ozarks will post $3.07 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 27th. Stockholders of record on Friday, January 20th were paid a dividend of $0.17 per share. This is a boost from Bank of the Ozarks’s previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, January 18th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.22%. Bank of the Ozarks’s dividend payout ratio is currently 26.67%.
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OZRK has been the topic of several research analyst reports. Brean Capital initiated coverage on Bank of the Ozarks in a research note on Wednesday, November 30th. They issued a “buy” rating and a $54.00 price objective on the stock. BB&T Corporation initiated coverage on Bank of the Ozarks in a research note on Thursday, December 1st. They issued a “buy” rating and a $54.00 price objective on the stock. Finally, Zacks Investment Research raised Bank of the Ozarks from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research note on Tuesday, December 13th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $50.88.
In other news, EVP Timothy D. Hicks sold 3,600 shares of the company’s stock in a transaction that occurred on Friday, January 27th. The stock was sold at an average price of $55.81, for a total transaction of $200,916.00. Following the transaction, the executive vice president now owns 27,372 shares of the company’s stock, valued at $1,527,631.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider R Darrel Russell sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 24th. The shares were sold at an average price of $54.00, for a total value of $540,000.00. Following the transaction, the insider now directly owns 34,524 shares in the company, valued at approximately $1,864,296. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,000 shares of company stock worth $2,962,972. Insiders own 8.70% of the company’s stock.
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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