Diamond Hill Capital, an investment management company, released its “Small Cap Fund” first-quarter 2024 investor letter. A copy of the letter can be downloaded here. The market delivered positive returns in a volatile first quarter across most regions. Diamond Hill Small Cap Fund outperformed its benchmark, the Russell 2000 Index, in Q1 and returned 7.11% while the benchmark return was 5.18% during the same period. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
Diamond Hill Small Cap Fund featured stocks like Bank OZK (NASDAQ:OZK) in the first quarter 2024 investor letter. Headquartered in Little Rock, Arkansas, Bank OZK (NASDAQ:OZK) is a banking company that offers retail and commercial banking services. On May 14, 2024, Bank OZK (NASDAQ:OZK) stock closed at $49.21 per share. One-month return of Bank OZK (NASDAQ:OZK) was 17.67%, and its shares gained 39.88% of their value over the last 52 weeks. Bank OZK (NASDAQ:OZK) has a market capitalization of $5.575 billion.
Diamond Hill Small Cap Fund stated the following regarding Bank OZK (NASDAQ:OZK) in its first quarter 2024 investor letter:
“Our bottom individual contributors in Q1 included WNS Holdings, as well as regional banks Live Oak Bancshares and Bank OZK (NASDAQ:OZK). Shares of regional banks Live Oak Bancshares and Bank OZK consolidated some of late 2023’s gains tied to investors’ expectations the Fed would begin cutting rates in 2024 — which would relieve deposit pricing pressure and commercial real estate stress. As investors have adjusted expectations for fewer rate cuts in 2024, shares of both companies have declined in sympathy.”
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, 27 hedge fund portfolios held Bank OZK (NASDAQ:OZK) at the end of the fourth quarter which was 24 in the previous quarter.
We discussed Bank OZK (NASDAQ:OZK) in another article and shared the list of best dividend leaders to buy according to analysts. Bank OZK (NASDAQ:OZK) was one of the top contributors of Diamond Hill Small Cap Fund in the previous quarter. In addition, please check out our hedge fund investor letters Q1 2024 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.