JMS Downgrades Bank of the Ozarks (OZRK) to Neutral
More News related to OZRK
- Bank of the Ozarks, Inc. Announces 4th Quarter 2008 Earnings Release Date and Conference Call
- Bank of the Ozarks, Inc. Issues Preferred Stock
- Bank of the Ozarks, Inc. Announces Preliminary Approval For Capital Purchase Program
- Bank of the Ozarks (OZRK) Applies for Capital Purchase Program
- Bank of the Ozarks, Inc. Applies for Capital Purchase Program
More News related to Downgrades
- A. Schulman (SHLM) Declares $0.15/Share Dividend, Yielding 3.41%
- The Cooper Companies (COO) Declares Semi-Annual Dividend of $0.03/Share, Yielding 0.31%
- Monro Muffler Brake (MNRO) Declares Qtr. Dividend of $0.06/Share, Yielding 0.99%
- Robbins & Myers (RBN) Increases Dividend
- J. Alexander's (JAX) Suspends Annual Dividend
Janney Montgomery Scott downgrades Bank of the Ozarks (Nasdaq: OZRK) from Buy to Neutral. The firm maintains its fair value estimate of $21.00.
The firm cites valuation as the primary reason for the downgrade. JMS notes the stocks 46% rise since hitting a 52-week low on July 7, which compares to an only 16.5% rise in the NASDAQ Bank Index over the same period.
JMS continues to like Ozarks' fundamentals compared to peers "in light of a weakening economy...", but believes that valuation has forced the firm to recommend that investors wait on the sidelines for a more attractive entry point.
The firm points out that Ozarks trades at 9.4x its FY09 EPS estimate and at 170% of tangible book value, which puts it trading at a discount on a P/E basis, but at a premium on a P/B basis.
Bank of the Ozarks, Inc. operates as the holding company for Bank of the Ozarks, which provides retail and commercial banking products and services.
Related Categories
DowngradesStocks Mentioned
-1.95Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
