California Public Employees Retirement System raised its holdings in BOK Financial Co. (NASDAQ:BOKF) by 8.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,235 shares of the bank’s stock after acquiring an additional 4,933 shares during the quarter. California Public Employees Retirement System owned about 0.10% of BOK Financial worth $4,564,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. George Kaiser Family Foundation lifted its stake in shares of BOK Financial by 23.4% in the fourth quarter. George Kaiser Family Foundation now owns 3,466,120 shares of the bank’s stock worth $254,171,000 after buying an additional 656,365 shares during the last quarter. BlackRock Inc. lifted its stake in shares of BOK Financial by 14.2% in the third quarter. BlackRock Inc. now owns 1,302,807 shares of the bank’s stock worth $126,737,000 after buying an additional 161,830 shares during the last quarter. Broadview Advisors LLC acquired a new stake in shares of BOK Financial in the third quarter worth $9,045,000. The Manufacturers Life Insurance Company lifted its stake in shares of BOK Financial by 15.8% in the third quarter. The Manufacturers Life Insurance Company now owns 653,637 shares of the bank’s stock worth $63,586,000 after buying an additional 89,424 shares during the last quarter. Finally, Vanguard Group Inc lifted its stake in shares of BOK Financial by 2.0% in the third quarter. Vanguard Group Inc now owns 2,653,428 shares of the bank’s stock worth $258,125,000 after buying an additional 52,210 shares during the last quarter. Hedge funds and other institutional investors own 42.47% of the company’s stock.
A number of brokerages have recently weighed in on BOKF. BidaskClub cut shares of BOK Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, February 27th. Wells Fargo & Co reduced their price objective on shares of BOK Financial from $100.00 to $85.00 and set a “market perform” rating for the company in a research note on Thursday, January 3rd. ValuEngine upgraded shares of BOK Financial from a “sell” rating to a “hold” rating in a research note on Friday, January 4th. Morgan Stanley reduced their price objective on shares of BOK Financial from $105.00 to $95.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 11th. Finally, SunTrust Banks boosted their price objective on shares of BOK Financial to $92.00 and gave the stock a “hold” rating in a research note on Thursday, January 31st. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $102.95.
Shares of BOKF stock opened at $85.83 on Friday. BOK Financial Co. has a 1 year low of $69.96 and a 1 year high of $107.00. The firm has a market cap of $6.20 billion, a P/E ratio of 12.66, a P/E/G ratio of 1.79 and a beta of 1.24. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.93 and a current ratio of 0.94.
BOK Financial (NASDAQ:BOKF) last announced its earnings results on Wednesday, January 30th. The bank reported $1.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.70 by ($0.05). BOK Financial had a return on equity of 12.04% and a net margin of 24.15%. The company had revenue of $422.14 million for the quarter, compared to the consensus estimate of $423.33 million. During the same period last year, the firm posted $1.29 EPS. The company’s revenue was up 12.8% compared to the same quarter last year. Analysts predict that BOK Financial Co. will post 7.4 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, February 25th. Investors of record on Monday, February 11th were given a dividend of $0.50 per share. The ex-dividend date was Friday, February 8th. This represents a $2.00 dividend on an annualized basis and a yield of 2.33%. This is a positive change from BOK Financial’s previous quarterly dividend of $0.40. BOK Financial’s payout ratio is 29.50%.
In related news, EVP Joseph A. Gottron II bought 1,900 shares of the company’s stock in a transaction that occurred on Monday, December 31st. The shares were acquired at an average price of $72.69 per share, with a total value of $138,111.00. Following the completion of the transaction, the executive vice president now owns 8,456 shares of the company’s stock, valued at approximately $614,666.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George B. Kaiser bought 3,000 shares of the company’s stock in a transaction that occurred on Thursday, February 7th. The shares were bought at an average cost of $85.83 per share, for a total transaction of $257,490.00. The disclosure for this purchase can be found here. Insiders have purchased 6,800 shares of company stock worth $533,712 in the last ninety days. 60.50% of the stock is currently owned by insiders.
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About BOK Financial
BOK Financial Corporation operates as the financial holding company for BOKF, NA that provides various financial products and services in Oklahoma, Texas, New Mexico, Northwest Arkansas, Colorado, Arizona, and Kansas/Missouri. It operates through three segments: Commercial Banking, Consumer Banking, and Wealth Management.
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