Bank OZK price target raised to $49 from $41 at Truist

Truist analyst Brandon King raised the firm’s price target on Bank OZK to $49 from $41 and keeps a Hold rating on the shares as part of a broader research note recapping Q2 results for Community and Regional Banks. The firm is cutting its earnings estimates for FY24 and FY25 to reflect lower net interest income, reflecting a softer loan growth forecast through 2025 and higher expenses, though Truist also continues to forecast sequential net interest income growth until Q3 of FY25 followed by some compression as the impact of Fed rate cuts offsets earning asset growth and CDs repricing, the analyst tells investors in a research note.