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Stock Market & Financial Investment News

News Breaks
May 16, 2014
18:03 EDTOZRKBank of the Ozarks says Summit Bancorp acquisition to be accretive to earnings
Bank of the Ozarks announced the completion of its acquisition of Summit Bancorp and its wholly-owned bank subsidiary, Summit Bank, pursuant to a previously announced definitive agreement and plan of merger whereby Summit merged with and into the company and Summit Bank merged with and into the company’s wholly-owned bank subsidiary, Bank of the Ozarks, effective May 16. In connection with closing the transaction, Bank of the Ozarks, Inc. issued approximately 2.88M shares of its common stock and approximately $42.4M in cash for all outstanding shares of Summit common stock. The transaction is accretive to the company’s book value per common share and tangible book value per common share and is expected to be accretive to the company’s diluted earnings per common share in the first twelve months after the closing date and thereafter. This is the company’s eleventh acquisition since March 2010 and the largest in its history. The acquisition adds 23 banking offices and one loan production office in nine Arkansas counties. At March 31, 2014, Summit Bank had approximately $1.2B of total assets, $752M of loans and $987M of deposits.
News For OZRK From The Last 14 Days
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July 2, 2015
10:00 EDTOZRKOn The Fly: Analyst Downgrade Summary
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07:15 EDTOZRKBank of the Ozarks downgraded to Outperform from Strong Buy at Raymond James
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July 1, 2015
11:55 EDTOZRKBank of the Ozarks raises quarterly dividend 3.7% to 14c per share
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June 29, 2015
09:34 EDTOZRKBank of the Ozarks downgraded to Hold from Buy at BB&T
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June 26, 2015
10:00 EDTOZRKOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ARM Holdings (ARMH) downgraded to Underperform from Market Perform at Bernstein... Apogee Enterprises (APOG) downgraded to Market Perform from Outperform at Northland... Atlas Resource Partners (ARP) downgraded to Underperform from Neutral at BofA/Merrill... Bank of the Ozarks (OZRK) downgraded to Hold from Buy at Drexel Hamilton... China Cord Blood (CO) downgraded to Neutral from Buy at Roth Capital... Citizens Financial (CFG) downgraded to Neutral from Buy at Guggenheim... Community Health (CYH) downgraded to Market Perform from Outperform at Raymond James... Eagle Bancorp (EGBN) downgraded to Hold from Buy at Sandler O'Neill... Fifth Street Senior (FSFR) downgraded to Neutral from Buy at UBS... FireEye (FEYE) downgraded to Equal Weight from Overweight at Barclays... Insight Enterprises (NSIT) downgraded to Underperform at Raymond James... Micron (MU) downgraded to Neutral from Buy at Mizuho... SYNNEX (SNX) downgraded to Hold from Buy at Needham... Swatch Group (SWGAY) downgraded to Equal Weight from Overweight at Barclays... Target (TGT) downgraded to Market Perform from Outperform at BMO Capital... Zoetis (ZTS) downgraded to Market Perform from Outperform at BMO Capital.
07:22 EDTOZRKBank of the Ozarks downgraded to Hold from Buy at Drexel Hamilton
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June 25, 2015
10:00 EDTOZRKOn The Fly: Analyst Downgrade Summary
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06:23 EDTOZRKBank of the Ozarks downgraded to Hold from Buy at Wunderlich
Wunderlich downgraded Bank of the Ozarks to Hold with a $48 price target citing the stock's "premium" valuation relative to peers.
June 23, 2015
09:32 EDTOZRKBank of the Ozarks downgraded to Market Perform from Outperform at Fig Partners
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June 19, 2015
09:16 EDTOZRKBank of the Ozarks coverage resumed with a Hold at Sandler O'Neill
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