Merit Financial Group LLC Takes Position in BOK Financial Co. (NASDAQ:BOKF)

Merit Financial Group LLC bought a new stake in BOK Financial Co. (NASDAQ:BOKF - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,407 shares of the bank's stock, valued at approximately $256,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Creative Planning increased its holdings in shares of BOK Financial by 130.1% during the third quarter. Creative Planning now owns 11,946 shares of the bank's stock valued at $1,250,000 after acquiring an additional 6,755 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in BOK Financial by 7.8% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 136,091 shares of the bank's stock valued at $14,238,000 after purchasing an additional 9,863 shares during the period. Sanctuary Advisors LLC bought a new stake in BOK Financial during the 2nd quarter valued at $540,000. Jane Street Group LLC increased its stake in BOK Financial by 309.8% during the 3rd quarter. Jane Street Group LLC now owns 44,561 shares of the bank's stock valued at $4,662,000 after purchasing an additional 33,686 shares in the last quarter. Finally, USA Financial Formulas acquired a new position in BOK Financial during the fourth quarter worth $319,000. 34.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of BOK Financial from $115.00 to $120.00 and gave the company a "sector perform" rating in a report on Wednesday. Wedbush reiterated a "neutral" rating and set a $115.00 price target on shares of BOK Financial in a research note on Tuesday, October 22nd. Stephens lowered their price objective on BOK Financial from $135.00 to $127.00 and set an "equal weight" rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods lifted their target price on BOK Financial from $112.00 to $125.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company upped their price target on BOK Financial from $105.00 to $112.00 and gave the stock an "equal weight" rating in a report on Tuesday, December 3rd. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $116.40.

BOK Financial Stock Performance

NASDAQ:BOKF traded down $0.69 during trading on Friday, reaching $109.91. The company's stock had a trading volume of 164,665 shares, compared to its average volume of 114,311. The firm has a market cap of $7.05 billion, a price-to-earnings ratio of 13.52 and a beta of 1.20. BOK Financial Co. has a 12 month low of $78.99 and a 12 month high of $121.58. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a 50 day moving average of $112.82 and a 200-day moving average of $107.36.

BOK Financial (NASDAQ:BOKF - Get Free Report) last posted its quarterly earnings data on Friday, January 17th. The bank reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.97 by $0.15. BOK Financial had a net margin of 15.32% and a return on equity of 9.96%. Research analysts expect that BOK Financial Co. will post 8.52 EPS for the current fiscal year.

BOK Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Friday, November 15th. This is a boost from BOK Financial's previous quarterly dividend of $0.55. BOK Financial's payout ratio is 28.04%.

Insider Activity at BOK Financial

In other BOK Financial news, Director Steven Bangert sold 2,000 shares of the company's 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 sale, the director now directly owns 44,709 shares of the company's stock, valued at $5,268,061.47. This represents a 4.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 56.94% of the stock is owned by company insiders.

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.