Bank OZK experienced a significant stock decline, dropping 17% on May 29, 2024, after Citigroup analysts downgraded the stock from buy to sell. The downgrade was prompted by concerns over two large loans in Bank OZK's portfolio, including a $915 million loan with $135 million allocated to the 'Echo Street West' project in Atlanta, which is at risk of default. This move by Citigroup reflects broader trepidation in the market regarding private credit loans and the leverage of major banks. The sharp decline in Bank OZK's shares, which fell 16.5%, underscores ongoing vulnerabilities in the commercial real estate sector and marked the stock's worst day in over six months.
Bank OZK’s sudden 17% stock plunge suggests that flare-ups from the embattled real estate market aren’t going away anytime soon https://t.co/KPx3BfZtPv
Bank OZK’s sudden 17% stock plunge suggests that flare-ups from the embattled real estate market aren’t going away anytime soon https://t.co/sstX4teJDi
Bank $OZK double downgrade from $C due to two commercial real estate projects that could default Worst day since 2020 $KRE $JPM $BAC https://t.co/3tFj73e7Dc
Bank $OZK double downgrade from $C due to two commercial real estate projects that could default Worst day since 2020 https://t.co/VfrpSH3ZAO
This morning a Citi analyst yelled fire in a crowded theatre over 2 CRE loans on the books of bank $OZK. The moment that regional banks resume failing might be just around the corner.
🔵 REGIONAL LENDER BANK OZK PLUNGES AS CITI TURNS BEARISH OVER LOAN CONCERNS Full Story → https://t.co/eqvyL10xyn 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…
Bank OZKs stock is down 16.5% today over growing concern for the health of two large loans in its portfolio #MacroEdge
$OZK 📉 -17% today https://t.co/k0ZTGyClAO
Well then now Citigroup has realized the construction lending risk with bank of the Ozarks. $OZK it’s a slow slow train wreck in CRE @DiMartinoBooth https://t.co/X0ns7L6WMH https://t.co/6REOVQhtHt
🚨Banking Crisis: Bank Stocks 📉 **Led by Bank $OZK** - **Bank OZK's Largest Loan:** - $915M total, $135M for 'Echo Street West' in Atlanta possible default - **Concerns:** - major banks are too leveraged - **Impact:** - Major sell-off in bank stocks today https://t.co/qHEnLtpDlx
Shares in real estate project lender Bank OZK fell after an analyst dealt the stock a double downgrade, citing concerns over a pair of its loans https://t.co/Efm2qaGSgc
Bank OZK rating cut to sell from buy at Citi on ‘trepidation’ over two loans https://t.co/EkzjstqdZz
Focus: Rating firms cautious ratifying some private credit loans https://t.co/YgfkbT7prm https://t.co/XXmYL4nAjo