Bank OZK price target raised to $47 from $45 at Keefe Bruyette

Keefe Bruyette raised the firm’s price target on Bank OZK to $47 from $45 and keeps a Market Perform rating on the shares. The company reported another net interest income beat and credit trends were good, the analyst tells investors in a research note. The firm says “higher for longer” interest rates is better for OZK from an NII perspective, so the shares have potential upside if we don’t get rate cuts. However, credit anxiety and the bank’s commercial real Easter concentration may limit the multiple expansion in the near term even though trends have held up very well so far, adds Keefe.