AQR Capital Management LLC Boosts Stock Position in BOK Financial Corporation $BOKF

Key Points

• AQR Capital Management LLC increased its stake in BOK Financial Corporation by 39.8%, acquiring an additional 165,184 shares, bringing its total holdings to 579,732 shares worth approximately $59.4 million.
• Analysts have set new price targets for BOK Financial, with Barclays raising its target from $110.00 to $115.00 and DA Davidson increasing it from $114.00 to $120.00, while the average target price stands at $113.83.
• BOK Financial recently declared a quarterly dividend of $0.57 per share, which translates to an annual yield of 2.0%, with a payout ratio of 27.31%.

AQR Capital Management LLC raised its stake in BOK Financial Corporation (NASDAQ:BOKF - Free Report) by 39.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 579,732 shares of the bank's stock after buying an additional 165,184 shares during the quarter. AQR Capital Management LLC owned about 0.90% of BOK Financial worth $59,446,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Stifel Financial Corp raised its position in BOK Financial by 5.9% in the 4th quarter. Stifel Financial Corp now owns 4,643 shares of the bank's stock valued at $494,000 after purchasing an additional 258 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in BOK Financial by 7.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 15,008 shares of the bank's stock valued at $1,598,000 after purchasing an additional 1,091 shares during the last quarter. Northern Trust Corp increased its stake in BOK Financial by 5.5% in the fourth quarter. Northern Trust Corp now owns 145,717 shares of the bank's stock valued at $15,512,000 after purchasing an additional 7,605 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of BOK Financial in the fourth quarter valued at approximately $277,000. Finally, Bank of America Corp DE boosted its holdings in shares of BOK Financial by 27.4% in the fourth quarter. Bank of America Corp DE now owns 56,314 shares of the bank's stock valued at $5,995,000 after acquiring an additional 12,108 shares during the period. 34.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BOKF. Keefe, Bruyette & Woods increased their price target on BOK Financial from $101.00 to $115.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. Hovde Group increased their price target on BOK Financial from $110.00 to $123.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Citigroup increased their price target on BOK Financial from $97.00 to $100.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Barclays increased their price target on BOK Financial from $110.00 to $115.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Finally, Jefferies Financial Group increased their price target on BOK Financial from $110.00 to $120.00 and gave the stock a "hold" rating in a report on Wednesday, September 3rd. Three research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $113.83.

BOK Financial Price Performance

Shares of BOKF stock traded down $2.24 during mid-day trading on Tuesday, reaching $110.58. The stock had a trading volume of 177,576 shares, compared to its average volume of 193,097. BOK Financial Corporation has a 12-month low of $85.07 and a 12-month high of $121.58. The company has a market cap of $7.03 billion, a P/E ratio of 13.24 and a beta of 0.91. The business has a 50-day simple moving average of $105.50 and a 200 day simple moving average of $99.78. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.70.

BOK Financial (NASDAQ:BOKF - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The bank reported $2.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.98 by $0.21. BOK Financial had a return on equity of 9.39% and a net margin of 15.80%.The business had revenue of $525.50 million during the quarter, compared to analysts' expectations of $521.80 million. During the same quarter last year, the business posted $2.54 earnings per share. On average, sell-side analysts anticipate that BOK Financial Corporation will post 8.83 earnings per share for the current year.

BOK Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Wednesday, August 13th. BOK Financial's dividend payout ratio (DPR) is currently 27.31%.

About BOK Financial

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.