Bank OZK's share price dropped 9.4% after Citi downgraded the stock to 'sell' due to loan concerns.
Bank OZK's share price dropped 9.4% after Citi downgraded the stock to 'sell' due to concerns over loans linked to projects in San Diego and Atlanta, and broader worries on life science construction lending. Analyst Benjamin Gerlinger cites lack of leasing in San Diego's R&D project and office leasing interest in Atlanta's mixed-use development as key issues. Gerlinger also lowered his price target to $37 from $57.
May 29, 2024
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