What To Know About Wells Fargo's Downgrade of Bank OZK

Wells Fargo downgraded its rating of Bank OZK OZK to Equal-Weight with a price target of $42.00, changing its price target from $58.00 to $42.00.

Shares of Bank OZK are trading up 1.24% over the last 24 hours, at $38.29 per share.

A move to $42.00 would account for a 9.69% increase from the current share price.

About Bank OZK

Bank OZK is a bank holding company that owns and operates a community bank, Bank of the Ozarks. The bank operates offices primarily in the southeastern United States, as well as Texas, New York, and California. The bank holding company also owns a number of finance subsidiary business trusts formed in connection with the issuance of debt and preferred securities. Bank of the Ozarks provides a wide range of retail and commercial banking services, but principally concentrates its activities on real estate loans, which account for the great majority of the bank's loans and leases. The bank's real estate lending arm, which finances many metropolitan construction and development projects, extends further than many of its community banking competitors.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.