UPDATE: Wunderlich Securities Upgrades Bank Of The Ozarks Following Strong 3Q14 EPS Report

In a report published Thursday, Wunderlich Securities analyst Kevin Reynolds upgraded the rating on

from Hold to Buy, and raised the price target from $35.00 to $38.00. In the report, Wunderlich Securities noted, “We are upgrading shares of Bank of the Ozarks (OZRK) to Buy from Hold and we are raising our price target to $38 at this time. OZRK reported 3Q14 operating EPS of approximately $0.43, which was $0.04 ahead of consensus, driven by very strong organic loan growth. Despite NIM compression that was in-line with management's guidance, PTPP income was more than 10% above consensus. Management again raised its loan growth guidance for 2014, reflecting the further growth of its specialty real estate lending division and a gradually improving economic environment. With above average organic growth complemented by accretive M&A, coupled with best-in-class profitability (2% ROAA), we believe OZRK shares should be a core holding in any high-quality bank portfolio.” Bank of the Ozarks closed on Wednesday at $30.75.