Bank OZK (OZK) Rose Strongly in Q4

Diamond Hill Capital, an investment management company, released its “Small Cap Fund” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. During Q4 2023, the strategy returned 15.49% compared to 14.03% for the Russell 2000 Index. The relative outperformance in Q4 came from the strong performance of Financials and consumer discretionary holdings while industrials and healthcare holdings detracted. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Diamond Hill Small Cap Fund featured stocks such as Bank OZK (NASDAQ:OZK) in the fourth quarter 2023 investor letter. Headquartered in Little Rock, Arkansas, Bank OZK (NASDAQ:OZK) is a banking company that offers retail and commercial banking services. On February 5, 2024, Bank OZK (NASDAQ:OZK) stock closed at $42.01 per share. One-month return of Bank OZK (NASDAQ:OZK) was -13.51%, and its shares lost 11.87% of their value over the last 52 weeks. Bank OZK (NASDAQ:OZK) has a market capitalization of $4.753 billion.

Diamond Hill Small Cap Fund stated the following regarding Bank OZK (NASDAQ:OZK) in its fourth quarter 2023 investor letter:

“On an individual holdings’ basis, top contributors to return in Q4 included Red Rock Resorts as well as financials holdings Live Oak Bancshares and Bank OZK (NASDAQ:OZK). Shares of regional banks Live Oak and Bank OZK rallied strongly in the wake of the Fed’s November meeting, which investors broadly interpreted to signal an end to rate hikes and a potential pivot to cuts sometime in 2024.”

An iconic skyline of a major city, the towering buildings display the strength of the company’s regional banking success.

Bank OZK (NASDAQ:OZK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 24 hedge fund portfolios held Bank OZK (NASDAQ:OZK) at the end of third quarter which was 18 in the previous quarter.

We discussed Bank OZK (NASDAQ:OZK) in another article and shared the list of best American bank stocks to buy according to analysts. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.