BOK Financial Corporation $BOKF Stake Cut by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in BOK Financial Corporation (NASDAQ:BOKF) by 8.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 230,146 shares of the bank’s stock after selling 20,011 shares during the period. Allspring Global Investments Holdings LLC’s holdings in BOK Financial were worth $29,479,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its position in shares of BOK Financial by 173.1% during the fourth quarter. Farther Finance Advisors LLC now owns 213 shares of the bank’s stock worth $25,000 after acquiring an additional 135 shares during the last quarter. Pinnacle Holdings LLC bought a new stake in BOK Financial during the fourth quarter worth approximately $31,000. Fifth Third Bancorp raised its stake in shares of BOK Financial by 2,291.7% in the 1st quarter. Fifth Third Bancorp now owns 287 shares of the bank’s stock worth $37,000 after buying an additional 275 shares in the last quarter. Covestor Ltd lifted its holdings in BOK Financial by 108.0% in the 4th quarter. Covestor Ltd now owns 366 shares of the bank’s stock valued at $43,000 after acquiring an additional 190 shares during the last quarter. Finally, Root Financial Partners LLC lifted its stake in BOK Financial by 56.2% during the first quarter. Root Financial Partners LLC now owns 367 shares of the bank’s stock valued at $47,000 after purchasing an additional 132 shares during the last quarter. Institutional investors and hedge funds own 34.44% of the company’s stock.

Wall Street Analyst Weigh In

BOKF has been the subject of several analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of BOK Financial in a report on Tuesday, June 9th. Wells Fargo & Company boosted their price target on shares of BOK Financial from $130.00 to $138.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Citigroup increased their price objective on BOK Financial from $138.00 to $141.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. Zacks Research downgraded shares of BOK Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Raymond James Financial lowered shares of BOK Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 1st. Two investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, BOK Financial currently has an average rating of “Hold” and a consensus price target of $136.18.

Insider Buying and Selling at BOK Financial

In other BOK Financial news, Director Steven Bangert sold 2,100 shares of the company’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $134.78, for a total transaction of $283,038.00. Following the sale, the director directly owned 32,816 shares of the company’s stock, valued at approximately $4,422,940.48. This represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark B. Wade sold 1,700 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $132.62, for a total value of $225,454.00. Following the sale, the executive vice president owned 20,361 shares in the company, valued at approximately $2,700,275.82. This trade represents a 7.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,500 shares of company stock worth $738,571 over the last ninety days. Corporate insiders own 63.53% of the company’s stock.

BOK Financial Stock Performance

Shares of NASDAQ BOKF opened at $141.24 on Monday. The business has a fifty day simple moving average of $133.16 and a 200 day simple moving average of $130.89. The firm has a market capitalization of $8.58 billion, a price-to-earnings ratio of 14.30 and a beta of 0.80. BOK Financial Corporation has a one year low of $97.40 and a one year high of $143.53. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03.

BOK Financial (NASDAQ:BOKF) last issued its earnings results on Monday, April 20th. The bank reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.28. The business had revenue of $553.82 million for the quarter, compared to analyst estimates of $549.71 million. BOK Financial had a net margin of 18.05% and a return on equity of 9.89%. During the same period in the previous year, the business earned $1.86 EPS. Sell-side analysts expect that BOK Financial Corporation will post 10.28 EPS for the current year.

BOK Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Wednesday, May 13th. BOK Financial’s payout ratio is currently 25.51%.

About BOK Financial

BOK Financial Corporation (NASDAQ: BOKF), headquartered in Tulsa, Oklahoma, is a diversified financial services holding company serving businesses, professionals and individuals across the central and western United States. Through its banking subsidiary, BOK Financial offers a full suite of commercial banking, treasury and payment management services, as well as consumer deposit and lending solutions. The company’s offerings also encompass wealth management, trust and asset management, investment banking, and insurance products designed to meet the needs of both retail and institutional clients.

The roots of BOK Financial date back to the founding of the Bank of Oklahoma in 1910.