Bank of the Ozarks (NASDAQ:OZRK) was the recipient of a large drop in short interest during the month of August. As of August 15th, there was short interest totalling 9,008,516 shares, a drop of 15.7% from the July 31st total of 10,688,696 shares. Currently, 7.4% of the shares of the stock are sold short. Based on an average trading volume of 1,020,980 shares, the days-to-cover ratio is currently 8.8 days.
Hedge funds and other institutional investors have recently modified their holdings of the company. Tandem Investment Advisors Inc. boosted its position in shares of Bank of the Ozarks by 7.7% in the second quarter. Tandem Investment Advisors Inc. now owns 81,180 shares of the financial services provider’s stock valued at $3,805,000 after buying an additional 5,837 shares in the last quarter. Colony Group LLC bought a new position in shares of Bank of the Ozarks during the second quarter valued at $1,940,000. Verition Fund Management LLC bought a new position in shares of Bank of the Ozarks during the second quarter valued at $242,000. Grandeur Peak Global Advisors LLC boosted its position in shares of Bank of the Ozarks by 20.3% in the second quarter. Grandeur Peak Global Advisors LLC now owns 128,700 shares of the financial services provider’s stock valued at $6,032,000 after buying an additional 21,675 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its position in shares of Bank of the Ozarks by 6.7% in the second quarter. Sterling Capital Management LLC now owns 36,245 shares of the financial services provider’s stock valued at $1,699,000 after buying an additional 2,277 shares in the last quarter. Institutional investors and hedge funds own 86.49% of the company’s stock.
OZRK has been the topic of a number of research reports. Keefe, Bruyette & Woods reissued a “buy” rating and set a $56.00 price objective on shares of Bank of the Ozarks in a report on Wednesday, May 3rd. BidaskClub cut Bank of the Ozarks from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. 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 objective on the stock. Stephens set a $48.00 price objective on Bank of the Ozarks and gave the company a “hold” rating in a report on Friday, July 28th. Finally, Brean Capital set a $63.00 price objective on Bank of the Ozarks and gave the company a “buy” rating in a report on Thursday, May 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $52.25.
Bank of the Ozarks (NASDAQ OZRK) opened at 42.20 on Friday. The company’s 50 day moving average price is $44.61 and its 200-day moving average price is $48.52. The stock has a market capitalization of $5.41 billion, a PE ratio of 14.84 and a beta of 1.52. Bank of the Ozarks has a one year low of $35.53 and a one year high of $56.86.
Bank of the Ozarks (NASDAQ:OZRK) last issued its earnings results on Wednesday, July 12th. The financial services provider reported $0.73 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.73. The business had revenue of $237.30 million for the quarter, compared to analysts’ expectations of $232.85 million. Bank of the Ozarks had a return on equity of 11.75% and a net margin of 46.15%. The business’s revenue for the quarter was up 64.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 EPS. Analysts expect that Bank of the Ozarks will post $2.97 earnings per share for the current year.
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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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