State Street Corp lessened its position in shares of BOK Financial Co. (NASDAQ:BOKF - Free Report) by 4.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 822,398 shares of the bank's stock after selling 35,722 shares during the period. State Street Corp owned approximately 1.28% of BOK Financial worth $86,039,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in BOKF. Point72 Asia Singapore Pte. Ltd. acquired a new stake in BOK Financial during the second quarter worth about $39,000. KBC Group NV boosted its position in BOK Financial by 25.3% in the third quarter. KBC Group NV now owns 905 shares of the bank's stock valued at $95,000 after buying an additional 183 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of BOK Financial in the 3rd quarter valued at $142,000. Point72 DIFC Ltd acquired a new stake in shares of BOK Financial during the 2nd quarter valued at $143,000. Finally, nVerses Capital LLC acquired a new position in BOK Financial in the 2nd quarter worth about $147,000. 34.44% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
BOKF has been the topic of a number of research reports. Wedbush reissued a "neutral" rating and set a $115.00 target price on shares of BOK Financial in a report on Tuesday, October 22nd. Stephens reduced their target price on BOK Financial from $116.00 to $114.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 23rd. 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 report on Tuesday, December 3rd. Royal Bank of Canada lifted their price objective on BOK Financial from $111.00 to $113.00 and gave the stock a "sector perform" rating in a research report on Wednesday, October 23rd. Finally, Truist Financial upgraded BOK Financial from a "hold" rating to a "buy" rating and increased their price target for the stock from $112.00 to $123.00 in a report on Friday, September 20th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $114.40.
Read Our Latest Stock Report on BOK Financial
BOK Financial Price Performance
BOKF traded down $2.75 during trading on Tuesday, reaching $114.35. 160,944 shares of the company were exchanged, compared to its average volume of 153,399. The company's 50-day moving average is $113.49 and its two-hundred day moving average is $103.55. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.87. The company has a market cap of $7.33 billion, a price-to-earnings ratio of 15.73 and a beta of 1.18. BOK Financial Co. has a 12-month low of $77.86 and a 12-month high of $121.58.
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 analysts' consensus estimates of $1.98 by $0.20. The business had revenue of $888.50 million for the quarter, compared to the consensus estimate 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 earnings per share. Research analysts forecast that BOK Financial Co. will post 8.08 earnings per share for the current fiscal year.
BOK Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were given a $0.57 dividend. This is a boost from BOK Financial's previous quarterly dividend of $0.55. The ex-dividend date was Friday, November 15th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.99%. BOK Financial's payout ratio is presently 31.36%.
Insider Buying and Selling
In related 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 value of $235,660.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available at this link. 56.94% of the stock is owned by insiders.
About BOK Financial
(
Free Report)
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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