Reported 4 months ago
Bank OZK's shares experienced their most significant decline since 2020 after Citigroup downgraded the stock to 'sell,' citing concerns over specific loans tied to projects in San Diego and Atlanta, as well as broader worries regarding life-science construction lending. The analyst's double downgrade led to a 14% drop in shares on Wednesday, the most significant decline since March 2020, with regional bank stocks also falling by 2.1%. Despite the concerns raised, the company did not respond to requests for comment, and analysts remain divided on their recommendations for the stock.
Source: YAHOO