Barclays PLC Trims Stake in BOK Financial Co. (NASDAQ:BOKF)

Barclays PLC lessened its stake in BOK Financial Co. (NASDAQ:BOKF - Free Report) by 41.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,047 shares of the bank's stock after selling 14,357 shares during the period. Barclays PLC's holdings in BOK Financial were worth $2,097,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in BOKF. Allspring Global Investments Holdings LLC increased its holdings in BOK Financial by 4,370,260.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 218,518 shares of the bank's stock valued at $20,025,000 after buying an additional 218,513 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in BOK Financial by 24.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,198 shares of the bank's stock worth $568,000 after purchasing an additional 1,228 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in BOK Financial by 11.7% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 126,228 shares of the bank's stock valued at $11,567,000 after purchasing an additional 13,175 shares in the last quarter. Maryland State Retirement & Pension System bought a new stake in BOK Financial during the second quarter valued at about $210,000. Finally, nVerses Capital LLC purchased a new stake in BOK Financial in the second quarter worth about $147,000. 34.44% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other BOK Financial news, Director Steven Bangert sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $117.83, for a total transaction of $235,660.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 56.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on BOK Financial from $111.00 to $113.00 and gave the company a "sector perform" rating in a research report on Wednesday, October 23rd. Wedbush reaffirmed a "neutral" rating and set a $115.00 price target on shares of BOK Financial in a report on Tuesday, October 22nd. Wells Fargo & Company increased their price objective on shares of BOK Financial from $105.00 to $112.00 and gave the stock an "equal weight" rating in a research note on Tuesday, December 3rd. Truist Financial upgraded shares of BOK Financial from a "hold" rating to a "buy" rating and lifted their target price for the company from $112.00 to $123.00 in a research note on Friday, September 20th. Finally, Stephens cut their price target on BOK Financial from $116.00 to $114.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $114.40.

BOK Financial Price Performance

Shares of BOK Financial stock traded down $1.51 during trading on Friday, reaching $108.20. 102,278 shares of the stock traded hands, compared to its average volume of 152,966. 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 company has a market capitalization of $6.94 billion, a price-to-earnings ratio of 14.88 and a beta of 1.18. BOK Financial Co. has a 52-week low of $77.86 and a 52-week high of $121.58. The business has a fifty day simple moving average of $113.37 and a two-hundred day simple moving average of $104.47.

BOK Financial (NASDAQ:BOKF - Get Free Report) last released its quarterly earnings results on Monday, October 21st. The bank reported $2.18 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.20. The business 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 last year, the business posted $2.04 EPS. Sell-side analysts expect that BOK Financial Co. will post 8.08 EPS for the current year.

BOK Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.28 annualized dividend and a yield of 2.11%. This is a positive change from BOK Financial's previous quarterly dividend of $0.55. BOK Financial's dividend payout ratio (DPR) is 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.