Bank OZK (OZK) Saw a Share Price Rise in Q4

ClearBridge Investments, an investment management company, released its “ClearBridge Small Cap Value Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy underperformed the benchmark Russell 2000 Value Index in the fourth quarter. The strategy generated gains across eight of the 11 sectors in which it was invested during the quarter, on an absolute basis. Overall sector allocation and stock selection effects detracted from the performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.

ClearBridge Small Cap Value Strategy featured stocks like 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 March 13, 2024, Bank OZK (NASDAQ:OZK) stock closed at $43.10 per share. One-month return of Bank OZK (NASDAQ:OZK) was -0.44%, and its shares gained 13.96% of their value over the last 52 weeks. Bank OZK (NASDAQ:OZK) has a market capitalization of $4.872 billion.

ClearBridge Small Cap Value Strategy stated the following regarding Bank OZK (NASDAQ:OZK) in its fourth quarter 2023 investor letter:

“Stock selection in the financials sector was the greatest detractor from relative performance. Several of our banking stocks, such as Bank OZK (NASDAQ:OZK), saw their share price rise during the quarter as investors anticipated Fed rate cuts that would reduce deposit costs while retaining economic strength.”

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. At the end of the fourth quarter, Bank OZK (NASDAQ:OZK) was held by 27 hedge fund portfolios, compared to 24 in the previous quarter, according to our database.

We discussed Bank OZK (NASDAQ:OZK) in another article and shared Diamond Hill Small Cap Fund’s views on the company. 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.