BOK Financial (NASDAQ:BOKF) Director Steven Bangert Sells 2,100 Shares

Key Points

• Director Steven Bangert sold 2,100 shares on May 7 at an average price of $134.78 for about $283,038, trimming his stake by 6.01% to 32,816 shares (SEC filing disclosed).
• BOK Financial beat Q1 estimates, reporting $2.58 EPS vs. $2.30 expected and $553.82M in revenue, while analysts have an average target of $134.91 and the consensus rating is mostly "Hold."
• Quarterly dividend announced: $0.63 per share (annualized $2.52) with an ex-dividend date of May 13 and a yield of about 1.9%, payable May 27.

BOK Financial Corporation (NASDAQ:BOKF - Get Free Report) Director Steven Bangert sold 2,100 shares of the company's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $134.78, for a total value of $283,038.00. Following the sale, the director owned 32,816 shares of the company's stock, valued at $4,422,940.48. The trade was a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Steven Bangert also recently made the following trade(s):

• On Thursday, May 7th, Steven Bangert sold 500 shares of BOK Financial stock. The stock was sold at an average price of $134.91, for a total value of $67,455.00.

BOK Financial Price Performance

NASDAQ BOKF traded down $1.01 on Friday, hitting $132.44. 54,798 shares of the company's stock were exchanged, compared to its average volume of 343,742. The stock has a 50-day moving average of $130.01 and a 200-day moving average of $123.37. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.53. BOK Financial Corporation has a 52 week low of $91.35 and a 52 week high of $139.73. The stock has a market cap of $8.05 billion, a price-to-earnings ratio of 13.39 and a beta of 0.83.

BOK Financial (NASDAQ:BOKF - Get Free Report) last released its earnings results on Monday, April 20th. The bank reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.28. BOK Financial had a return on equity of 9.90% and a net margin of 18.05%.The firm had revenue of $553.82 million during the quarter, compared to analysts' expectations of $549.71 million. During the same period in the prior year, the company earned $1.86 earnings per share. Analysts expect that BOK Financial Corporation will post 10.24 earnings per share for the current year.

BOK Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th will be paid a dividend of $0.63 per share. The ex-dividend date is Wednesday, May 13th. This represents a $2.52 annualized dividend and a yield of 1.9%. BOK Financial's dividend payout ratio is presently 25.51%.

Institutional Trading of BOK Financial

A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in shares of BOK Financial by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,708,525 shares of the bank's stock valued at $346,843,000 after acquiring an additional 34,833 shares during the period. CIBC Bancorp USA Inc. purchased a new position in shares of BOK Financial in the third quarter valued at about $123,231,000. Cibc World Markets Corp purchased a new position in shares of BOK Financial in the fourth quarter valued at about $130,994,000. Cibc World Market Inc. increased its position in shares of BOK Financial by 39.0% in the fourth quarter. Cibc World Market Inc. now owns 908,800 shares of the bank's stock valued at $107,656,000 after acquiring an additional 254,800 shares during the period. Finally, State Street Corp increased its position in shares of BOK Financial by 5.3% in the fourth quarter. State Street Corp now owns 872,649 shares of the bank's stock valued at $103,374,000 after acquiring an additional 44,068 shares during the period. 34.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on BOKF shares. Citigroup upped their price target on shares of BOK Financial from $135.00 to $138.00 and gave the company a "neutral" rating in a research report on Thursday, April 23rd. Barclays increased their price objective on shares of BOK Financial from $135.00 to $145.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 7th. Wells Fargo & Company increased their price objective on shares of BOK Financial from $115.00 to $127.00 and gave the stock an "equal weight" rating in a research report on Monday, March 30th. Weiss Ratings reissued a "buy (b-)" rating on shares of BOK Financial in a research report on Wednesday, January 21st. Finally, Wall Street Zen raised shares of BOK Financial from a "sell" rating to a "hold" rating in a research report on Saturday, January 17th. Three research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $134.91.

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.

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