Bank OZK (OZK) PT Raised to $49 at Truist Securities

Truist Securities analyst Jennifer Demba raised the price target on Bank OZK (NASDAQ: OZK) to $49.00 (from $41.00) while maintaining a Hold rating.

The analyst commented: "We lower our 2024/2025 Core EPS forecast by 3%/2% to $6.11/$6.39, following the 2Q results. Our revisions are driven by lower NII, reflecting a softer loan growth forecast through 2025, and higher expenses. We continue to forecast sequential NII growth until 3Q25, followed by some compression as the impact of Fed rate cuts offsets earning asset growth and CDs repricing. Credit trends were noisy with some newly identified special mention and substandard credits, but management commentary on the conference call should alleviate some investor concerns about protracted leasing cycles, underwriting structures, and sponsor support. While we believe actual losses will likely be manageable, but we continued to be Hold rated given anticipated stock volatility around CRE asset class stress and the magnitude of potential headwinds if rate expectations move lower. We raise our PT to $49 (7.7x 2025E EPS) from $41."

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