Taking this into account, Citigroup downgraded its Bank OZK [OZK] rating to a Sell from a a Buy in a research note published on May 29, 2024; the price target was decreased to $37 from $57. A number of analysts have revised their coverage, including UBS’s analysts, who decreased its forecast for the stock in early January from “a Buy” to “a Neutral”. Raymond James also remained covering OZK and has increased its forecast on January 05, 2024 with a “an Outperform” recommendation from previously “Mkt perform” rating. Wells Fargo revised its rating on January 05, 2024. It rated OZK as “an Underweight” which previously was an “an Equal weight”.
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Price Performance Review of OZK
On Tuesday, Bank OZK [NASDAQ:OZK] saw its stock fall -0.55% to $38.09. Over the last five days, the stock has lost -3.35%. Bank OZK shares have fallen nearly -23.56% since the year began. Nevertheless, the stocks have fallen -4.08% over the past one year. While a 52-week high of $52.36 was reached on 01/02/24, a 52-week low of $34.76 was recorded on 06/11/24. SMA at 50 days reached $44.56, while 200 days put it at $42.80.
Levels Of Support And Resistance For OZK Stock
The 24-hour chart illustrates a support level at 37.67, which if violated will result in even more drops to 37.25. On the upside, there is a resistance level at 38.34. A further resistance level may holdings at 38.59. The Relative Strength Index (RSI) on the 14-day chart is 27.64, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.37, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 94.67%. Stochastics %K at 4.21% indicates the stock is a buying.
The most recent change occurred on December 01, 2023 when Citigroup began covering the stock and recommended ‘”a Buy”‘ rating along with a $50 price target.
