Bank OZK Shares Slide Most Since 2020 as Citi Cuts to Sell
- Recommendation lowered to sell; PT cut to $37 from $57
- Cites potential risks on San Diego and Atlanta projects
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Shares in real estate project lender Bank OZK fell the most in four years after an analyst dealt the stock a double downgrade, citing concerns over a pair of its loans.
Citi analyst Benjamin Gerlinger downgraded his recommendation on Bank OZK to sell from buy while lowering his price target to $37 from $57, saying he sees potential risks for credits tied to projects in San Diego and Atlanta, and broader worries on life-science construction lending.