Bank OZK price target lowered to $46 from $48 at Truist

Truist lowered the firm’s price target on Bank OZK (OZK) to $46 from $48 and keeps a Hold rating on the shares as part of a broader research note recapping Q3 results for Community/Regional banks. The firm sees the bank posting net interest income contraction over the next two quarters before CD repricing begins to offset lower loan yields, adding however that the bank’s credit trends were mostly stable outside the new substandard non-accrual credit and that the path of lower interest rates should alleviate some investor concerns about tail risk in the Real Estate Specialties Group portfolio, the analyst tells investors in a research note.