In the pre-market trading session on Friday, shares of Bank OZK, a regional bank based in Arkansas, saw a significant surge of 5.91%. This upward movement came after Piper Sandler analyst Stephen Scouten reiterated a "Buy" rating on the stock and set a price target of $63.
Scouten's bullish stance on Bank OZK reflects the bank's strong fundamentals and growth potential. The analyst cited the bank's solid loan growth, strong asset quality, and disciplined expense management as key factors supporting his positive outlook.
With the Federal Reserve's interest rate hikes expected to continue in 2025, regional banks like Bank OZK are well-positioned to benefit from higher net interest margins. Scouten's price target of $63 implies a significant upside from the stock's current trading level, making it an attractive investment opportunity for investors seeking exposure to the regional banking sector.
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