AQR Capital Management LLC Purchases 165,184 Shares of 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 grew its holdings in BOK Financial Corporation (NASDAQ:BOKF - Free Report) by 39.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 579,732 shares of the bank's stock after purchasing an additional 165,184 shares during the quarter. AQR Capital Management LLC owned about 0.90% of BOK Financial worth $59,446,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in BOK Financial by 3.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,463,151 shares of the bank's stock worth $256,531,000 after acquiring an additional 90,948 shares during the last quarter. Millennium Management LLC raised its stake in shares of BOK Financial by 29.4% in the fourth quarter. Millennium Management LLC now owns 252,779 shares of the bank's stock worth $26,908,000 after acquiring an additional 57,420 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of BOK Financial by 10,687.0% during the first quarter. GAMMA Investing LLC now owns 51,346 shares of the bank's stock worth $5,348,000 after purchasing an additional 50,870 shares in the last quarter. Nuveen LLC bought a new stake in shares of BOK Financial during the first quarter valued at approximately $4,613,000. Finally, Northern Trust Corp increased its holdings in shares of BOK Financial by 25.1% in the first quarter. Northern Trust Corp now owns 182,347 shares of the bank's stock valued at $18,991,000 after purchasing an additional 36,630 shares in the last quarter. 34.44% of the stock is currently owned by institutional investors and hedge funds.

BOK Financial Trading Up 0.8%

Shares of BOK Financial stock traded up $0.86 during trading on Thursday, reaching $111.24. 313,579 shares of the company were exchanged, compared to its average volume of 174,276. The business has a 50-day moving average price of $106.01 and a 200-day moving average price of $99.95. The firm has a market capitalization of $7.08 billion, a price-to-earnings ratio of 13.32 and a beta of 0.91. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.70. BOK Financial Corporation has a twelve month low of $85.07 and a twelve month high of $121.58.

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

BOK Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were issued a dividend of $0.57 per share. The ex-dividend date was Wednesday, August 13th. This represents a $2.28 dividend on an annualized basis and a yield of 2.0%. BOK Financial's payout ratio is currently 27.31%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wells Fargo & Company set a $110.00 price objective on BOK Financial and gave the stock an "equal weight" rating in a report on Monday, July 28th. Citigroup boosted their target price on BOK Financial from $97.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Barclays raised their price target on BOK Financial from $110.00 to $115.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Jefferies Financial Group boosted their price objective on BOK Financial from $110.00 to $120.00 and gave the stock a "hold" rating in a report on Wednesday, September 3rd. Finally, DA Davidson upped their target price on shares of BOK Financial from $114.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. 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 currently has an average rating of "Hold" and a consensus price target of $113.83.

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.