Bank of the Ozarks (OZRK) Position Trimmed by The Manufacturers Life Insurance Company

  • Ozarks
  • 03/11/2017
The Manufacturers Life Insurance Company lessened its position in Bank of the Ozarks (NASDAQ:OZRK) by 9.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 179,910 shares of the financial services providers stock after selling 18,993 shares during the quarter. The Manufacturers Life Insurance Company owned 0.14% of Bank of the Ozarks worth $8,433,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Bank of the Ozarks by 8.6% in the 2nd quarter. Vanguard Group Inc. now owns 10,724,158 shares of the financial services providers stock worth $502,641,000 after buying an additional 852,398 shares during the period. BlackRock Inc. increased its position in Bank of the Ozarks by 4.8% during the 2nd quarter. BlackRock Inc. now owns 10,457,898 shares of the financial services providers stock valued at $490,162,000 after purchasing an additional 480,415 shares during the period. State Street Corp increased its position in Bank of the Ozarks by 6.3% during the 2nd quarter. State Street Corp now owns 6,091,667 shares of the financial services providers stock valued at $285,516,000 after purchasing an additional 363,391 shares during the period. FMR LLC increased its position in Bank of the Ozarks by 4.1% during the 2nd quarter. FMR LLC now owns 5,010,828 shares of the financial services providers stock valued at $234,858,000 after purchasing an additional 197,825 shares during the period. Finally, Principal Financial Group Inc. increased its position in Bank of the Ozarks by 144.6% during the 2nd quarter. Principal Financial Group Inc. now owns 3,138,880 shares of the financial services providers stock valued at $147,117,000 after purchasing an additional 1,855,697 shares during the period. Hedge funds and other institutional investors own 86.20% of the companys stock.

A number of research firms have recently weighed in on OZRK. Stephens set a $48.00 price target on shares of Bank of the Ozarks and gave the company a hold rating in a report on Thursday, August 3rd. Raymond James Financial, Inc. lowered their price target on shares of 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. Brean Capital reiterated a buy rating and issued a $59.00 target price on shares of Bank of the Ozarks in a research note on Friday, July 14th. Zacks Investment Research upgraded shares of Bank of the Ozarks from a sell rating to a hold rating in a research note on Friday, October 13th. Finally, ValuEngine cut shares of Bank of the Ozarks from a buy rating to a hold rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $54.13.

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 for the quarter, beating the consensus estimate of $0.74 by $0.01. Bank of the Ozarks had a return on equity of 11.85% and a net margin of 65.67%. The firm had revenue of $242.47 million for the quarter, compared to analyst estimates of $243.67 million. During the same period in the previous year, the firm earned $0.66 earnings per share.

The company also recently announced a quarterly dividend, which was paid on Friday, October 20th. Shareholders of record on Friday, October 13th were given a $0.185 dividend. This is a positive change from Bank of the Ozarkss previous quarterly dividend of $0.18. This represents a $0.74 annualized dividend and a yield of 1.61%. The ex-dividend date was Thursday, October 12th. Bank of the Ozarkss dividend payout ratio is presently 25.26%.

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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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