Bank OZK shares received a double downgrade from buy to sell from Citi. The analyst behind the downgrade is worried about two major projects, as well as the broader life sciences market.
Regional lender Bank OZK's shares fell to their lowest in over six months on Wednesday after analysts at Citigroup double downgraded the stock, citing "substantial concern" over two individual loans tied to the commercial real estate sector.
Bank OZK's stock was down by nearly 7% in premarket trading on Wednesday after Citigroup analyst Benjamin Gerlinger downgraded the Little Rock, Ark.-based lender to sell from buy on concerns over the health of two large loans.