UPDATE: Wunderlich Raising Its Price Target On Bank of the Ozarks
Wunderlich Securities is raising its price target Bank of the Ozarks, Inc. (NASDAQ: OZRK) to $57, and is reiterating its Buy rating.
In a note to clients, Wunderlich Securities writes, "We maintain our Buy rating on shares of Bank of the Ozarks (OZRK) as well as our $57 price target after taking a closer look at the company's two most recent FDIC-assisted acquisitions completed on April 29. OZRK has now completed seven FDIC-assisted acquisitions since the beginning of 2010, including three deals in 2011, all of which have been immediately and meaningfully accretive to EPS. With a strong management team, abundant capital, and credit quality that remains among the strongest in our research universe, we believe that current levels continue to understate the inherent value of OZRK shares."
Shares of OZRK are up 16 cents in early Tuesday trading to $52.97, a gain of 0.3%.
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