July 13, 2003 Morgan Keegan Downgraded OZRK from outperform to market perform.
July 13 S&P500 = 1003.86
July 13 OZRK = 39.84
Oct. 13 S&P500 = 1045.35
Oct. 13 OZRK = 48.05
% Change S&P500 = 4.1%
% Change OZRK = 20.6%
Wonder what the next three months will look like for Morgan Keegan since they downgrade OZRK further.... Sounds like they are short, and need to unwind.
Don't know if you remember this post or not, but Morgan Keegan downgraded OZRK on 10.15.03.
Oct. 15 S&P500 = 1043.10
Oct. 15 OZRK = 23.38 (split adj.)
April 1 S&P500 = 1132.17
Arpil 1 OZRK = 27.14
% Change S&P500 = 8.5%
% Change OZRK = 16.1%
Guess they missed it again... Glad I'm not paying there fees....
OZRK is a strong bank as is clearly illustrated by their financials.
I'm a bit biased b/c George Gleason, CEO, and I are from the same town, Dardanelle, AR.
Also, Morgan Keegan is owned by Regions Bank, which just happens to be a major competitor of OZRK in the Arkansas market. Wonder if Morgan Keegan is being objective?
Anyway, OZRK is a good long-term investment and I'm very, very pleased with my ROI.
I would appreciate hearing your two cents, too, on the reasons why OZRK has performed so poorly lately:
"Anyway, there's been a lot of activity on the market for OZRK. Wonder why... I have my own opinions, but I'll keep them to myself."
Seconding Huskies, there seems to be a decent sort of people here. Whatever you have to say, I (and, I assume, the others) would recognize that you are merely giving your opinion rather than some 'inside tip' as to what's going on.
I've take a few minutes to read the news and all I see is a dividend increase announcement. This hardly accounts for over a 20% price decline over a very short period.
When I get home around this time tomorrow afternoon I hope you and possibly some others will share their reflections.
Huskies: No, I haven't forgotten about the recipes. My dear little pet got ill right after my last posting. I was driving him from one hospital to another, finally ending up at the U. of PA.
Thanks for your assesment of FFBH.
If you care to reconsider, I'd be interested in your thoughts on OZRK at the present time. I can understand reluctance to post such an item on a message board. However, I find the OZRK board to be friendly and the posters are considerate.
Some of the posters on other boards are absolutely vicious. If I was a psychologist, I could do a field study one some individual message boards!
You asked if I knew anything about FFBH. Really, I don't know a whole lot about there bank. I know that they are from Harrison, AR and have a branch in Fayetteville, AR.
They've shown modest growth, but don't seem to really drive for a lot of growth. Which isn't a bad thing... I think they'll be bought out someday, but that will probably be later rather than sooner (and I currently don't know would would buy them probably someone like Firststar or Community Bank or First Western). Doubt they'll carry much value or multiples as OZRK.
Anyway, there's been a lot of activity on the market for OZRK. Wonder why... I have my own opinions, but I'll keep them to myself.
Nice comparison. I've always questioned who pays attention to downgrades and upgrades. Usually the share price goes back to where it had been within a few days of whatever price movement occurred after a change of grade.
Your little comparison wouldn't sell me on the services of Morgan Keegan!
What I don't like is the fact that they are owned by Regions Bank, a direct competitior of OZRK. As one of only a few houses that follow OZRK there could be an opportunity to be biased.
Also, our friends in Memphis always seem to be a day late and a dollar short on everything but bonds, as compared to our friends at Stephens in Little Rock. Although, Back Yard Burger is fairing well today.