Stephens lowered the firm’s price target on Bank OZK to $44 from $45 and keeps an Equal Weight rating on the shares. The company’s Q3 results were highlighted by “robust” loan growth and good cost controls, the analyst tells investors. NII results exceeded forecast and the firm expects robust loan growth to continue through at least the first half of 2024. The firm expects the credit overhang to remain until a significant portion of RESG loan portfolio is appraised.
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