- 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 "substantial concern" over two individual loans tied to the commercial real estate sector.
Citi said the San Diego property "has been rejected numerous times by sizable pharmaceutical companies" and has no known leases.The loan to the Atlanta-based project could also see some deterioration owing to "the lack of interest in office leasing, largely due to lackluster location and very open floor plan forcing large-scale leases," the brokerage added.
Other regional lenders also fell in a broadly weak market. The KBW Regional Banking Index, considered a barometer of investor sentiment towards the industry, was last down 2.7% on Wednesday. The index is down 13.7% so far in 2024.Building a large, tax-free nest egg in your TFSA with growth stocks can give you more control over your tax bill in your retirement years. The post TFSA: 2 Canadian Stocks to Buy and Hold for Tax-Free Gains appeared first on The Motley Fool Canada.
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