Bank Of The Ozarks Inc (NASDAQ: OZRK) trades weak on rising nonperforming loans

Free $50 Forex No-Deposit Bonus

Bank Of The Ozarks Inc (NASDAQ: OZRK)  has reported the adjusted earnings per share of 75 cents in the third quarter of FY 17. However, an increase in nonperforming loans and higher provision for loan and lease losses has disappointed investors. As a result, the stock lost 1% after today (As of 11:36AM EDT; Source: Google finance). Overall, in the third quarter, the net income grew 26.3% to $96.0 million from $76.0 million for the third quarter of 2016. For the first nine months of 2017, the net income has totaled $275.7 million, which is a 51.3% growth from net income of $182.2 million for the first nine months of 2016.

Moreover, the total loans and leases, including purchased loans, were $15.78 billion at September 30, 2017, which is an 11.4% increase from $14.16 billion at September 30, 2016. Deposits grew 11.2% to $16.82 billion at September 30, 2017 from $15.12 billion at September 30, 2016. The total assets grew 12.6% to $20.77 billion at September 30, 2017 from $18.45 billion at September 30, 2016.

Furthermore, the common stockholders’ equity grew 21% to $3.33 billion at September 30, 2017 from $2.76 billion at September 30, 2016. The tangible common stockholders’ equity grew 28.9% to $2.62 billion at September 30, 2017 from $2.03 billion at September 30, 2016. The book value per common share was $26.02 at September 30, 2017, which is a 14.4% increase from $22.75 at September 30, 2016. The tangible book value per common share was $20.46 at September 30, 2017, which is a 21.9% increase from $16.79 at September 30, 2016.

Additionally, in the third quarter, the net interest income for the third quarter of 2017 was $209.7 million, which is a 19.7% growth from $175.2 million for the third quarter of 2016. The net interest margin, on a fully taxable equivalent (FTE) basis, was 4.84% for the third quarter of 2017, which is a decrease of six basis points from 4.90% for the third quarter of 2016.

In addition, OZRK’s annualized returns on average assets, average common stockholders’ equity and average tangible common stockholders’ equity for the third quarter of 2017 were 1.89%, 11.56% and 14.76%, respectively, compared to 1.80%, 12.18% and 16.01%, respectively, for the third quarter of 2016. OZRK’s annualized returns on average assets, average common stockholders’ equity and average tangible common stockholders’ equity for the first nine months of 2017 were 1.91%, 12.10% and 15.81%, respectively, compared to 1.88%, 13.27% and 15.88%, respectively, for the first nine months of 2016.

 

Copyright © 2018. All Rights Reserved. FXDailyReport.Com