Algert Global LLC Sells 16,680 Shares of BOK Financial Co. (NASDAQ:BOKF)

Algert Global LLC reduced its position in shares of BOK Financial Co. (NASDAQ:BOKF - Free Report) by 38.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,593 shares of the bank's stock after selling 16,680 shares during the period. Algert Global LLC's holdings in BOK Financial were worth $2,782,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. acquired a new position in BOK Financial during the 1st quarter worth about $468,000. Bessemer Group Inc. acquired a new stake in shares of BOK Financial in the 1st quarter valued at $86,000. Price T Rowe Associates Inc. MD raised its position in shares of BOK Financial by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,375 shares of the bank's stock worth $1,323,000 after acquiring an additional 797 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of BOK Financial by 23.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 39,174 shares of the bank's stock valued at $3,604,000 after acquiring an additional 7,412 shares during the period. Finally, Walleye Trading LLC bought a new position in BOK Financial in the first quarter valued at about $290,000. 34.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on BOKF shares. Truist Financial raised shares of BOK Financial from a "hold" rating to a "buy" rating and raised their target price for the company from $112.00 to $123.00 in a research note on Friday, September 20th. Wedbush reaffirmed a "neutral" rating and set a $115.00 target price on shares of BOK Financial in a report on Tuesday, October 22nd. Royal Bank of Canada increased their target price on BOK Financial from $111.00 to $113.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 23rd. DA Davidson decreased their target price on BOK Financial from $124.00 to $123.00 and set a "buy" rating for the company in a research report on Wednesday, October 23rd. Finally, Stephens cut their price target on shares of BOK Financial from $116.00 to $114.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $112.20.

Insiders Place Their Bets

In other news, Director Steven Bangert sold 2,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $117.83, for a total transaction of $235,660.00. Following the completion of the transaction, the director now directly owns 44,709 shares in the company, valued at $5,268,061.47. This represents a 4.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 59.72% of the company's stock.

BOK Financial Stock Up 0.3 %

BOKF traded up $0.38 during trading on Wednesday, reaching $119.63. The company had a trading volume of 164,400 shares, compared to its average volume of 153,153. The company has a market cap of $7.67 billion, a P/E ratio of 16.45 and a beta of 1.17. BOK Financial Co. has a 12 month low of $69.76 and a 12 month high of $121.58. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.79 and a quick ratio of 0.79. The business's fifty day moving average price is $109.33 and its 200 day moving average price is $100.93.

BOK Financial (NASDAQ:BOKF - Get Free Report) last released its earnings results on Monday, October 21st. The bank reported $2.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.20. The firm had revenue of $888.50 million during the quarter, compared to analysts' expectations of $509.43 million. BOK Financial had a return on equity of 9.67% and a net margin of 13.78%. During the same quarter in the prior year, the company earned $2.04 EPS. Equities analysts anticipate that BOK Financial Co. will post 8.08 EPS for the current year.

BOK Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Friday, November 15th. This is a positive change from BOK Financial's previous quarterly dividend of $0.55. BOK Financial's dividend payout ratio (DPR) is currently 31.36%.

BOK Financial Company Profile

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.