Keefe Bruyette says shares of Bank OZK fell 15% after Citi put out a downgrade note highlighting two Real Estate Specialties Group projects of concern. While OZK’s commercial real estate concentration and large loan exposures have kept Keefe cautious on this stock, the firm does not see near term losses from these two specific projects. As such, it believe today’s reaction is overblown. The anlasyt keeps a Market Perform rating on the stock with a $47 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on OZK: