Here’s How Bank OZK (OZK) Weathered a Challenging Environment
Diamond Hill Capital, an investment management company, released its “Small Cap Fund” second-quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter of 2023, markets were positive, and the US stocks rose over 8% (as measured by the Russell 3000 Index). The portfolio outperformed Russell 2000 Index in Q2 and returned 6.34%, bringing the YTD gains to 13.05%. Financial and consumer discretionary holdings were the source of relative strength in the quarter while the relative weakness came from consumer staples holdings and below-benchmark exposure to the information technology sector. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Diamond Hill Small Cap Fund highlighted stocks like Bank OZK (NASDAQ:OZK) in the second 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 July 31, 2023, Bank OZK (NASDAQ:OZK) stock closed at $43.73 per share. One-month return of Bank OZK (NASDAQ:OZK) was 8.08%, and its shares gained 9.27% of their value over the last 52 weeks. Bank OZK (NASDAQ:OZK) has a market capitalization of $4.948 billion.
Diamond Hill Small Cap Fund made the following comment about Bank OZK (NASDAQ:OZK) in its second quarter 2023 investor letter:
"Other top contributors included Allegiant Travel, Bank OZK (NASDAQ:OZK) and Mr. Cooper Group. Arkansas-based regional bank Bank OZK has weathered a challenging environment well despite fears around commercial real estate. Further, with its conservative approach, the bank was positioned to opportunistically deploy capital during the banking crisis."
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Bank OZK (NASDAQ:OZK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Bank OZK (NASDAQ:OZK) at the end of first quarter which was 24 in the previous quarter.
We discussed Bank OZK (NASDAQ:OZK) in another article and shared the list of most profitable banks in the world. In addition, please check out our hedge fund investor letters Q2 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.
