BB&T Initiates a Buy Rating on Bank Of The OzarksBy Ryan Adsit
In a report released yesterday, Blair Brantley from BB&T initiated coverage with a Buy rating on Bank Of The Ozarks (NASDAQ: OZRK) and a price target of $54. The company’s shares closed yesterday at $48.52.
Bank Of The Ozarks has an analyst consensus of Hold.
Based on Bank Of The Ozarks’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $223 million and quarterly net profit of $76.03 million. In comparison, last year the company earned revenue of $126 million and had a net profit of $46.13 million.
Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is negative on the stock.
Bank of the Ozarks, Inc. is a bank holding company. Through its banking subsidiary, Bank of the Ozarks, it conducts banking operations through offices located in Arkansas, Texas, Georgia, Florida, North Carolina, South Carolina and Alabama. The company also owns Ozark Capital Statutory Trust II, Ozark Capital Statutory Trust III, Ozark Capital Statutory Trust IV and Ozark Capital Statutory Trust V. It provides retail and commercial banking services. The firm’s 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. The company also provides mortgage lending; treasury management services for businesses, individuals and non-profit entities including wholesale lock box services; remote deposit capture services; trust and wealth management services for businesses, individuals and non-profit entities including financial planning, money management, custodial services and corporate trust services; real estate appraisals; credit-related life and disability insurance; ATMs; telephone banking; on-line and mobile banking services including electronic bill pay; debit cards, gift cards and safe deposit boxes, among other products and services. The company was founded in 1903 and is headquartered in Little Rock, AR.