Arrowstreet Capital Limited Partnership Sells 49,363 Shares of BOK Financial Corporation $BOKF

Key Points

• Arrowstreet Capital sharply reduced its BOK Financial stake by 86.6%, selling 49,363 shares and retaining 7,640 shares valued at approximately $978,000.
• Analyst sentiment remains cautious: BOK Financial has a consensus “Hold” rating, with two Buy ratings and ten Holds, and an average price target of $139.45.
• BOK Financial reported quarterly revenue of $602.54 million, exceeding estimates, but earnings per share of $2.59 fell short of the $2.68 consensus. Shares opened at $144.47, near the 12-month high of $146.22.

Arrowstreet Capital Limited Partnership cut its stake in BOK Financial Corporation (NASDAQ:BOKF - Free Report) by 86.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,640 shares of the bank's stock after selling 49,363 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in BOK Financial were worth $978,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Cibc World Markets Corp purchased a new position in shares of BOK Financial during the 4th quarter worth about $130,994,000. Freestone Grove Partners LP boosted its position in shares of BOK Financial by 407.0% during the third quarter. Freestone Grove Partners LP now owns 363,610 shares of the bank's stock valued at $40,521,000 after buying an additional 291,894 shares during the period. Norges Bank bought a new position in shares of BOK Financial during the fourth quarter valued at approximately $32,755,000. Cibc World Market Inc. grew its stake in shares of BOK Financial by 39.0% during the fourth quarter. Cibc World Market Inc. now owns 908,800 shares of the bank's stock valued at $107,656,000 after buying an additional 254,800 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in shares of BOK Financial by 193.7% in the second quarter. Qube Research & Technologies Ltd now owns 226,230 shares of the bank's stock worth $22,087,000 after buying an additional 149,201 shares during the period. 34.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BOKF has been the subject of a number of recent analyst reports. Citigroup reissued a "neutral" rating on shares of BOK Financial in a research note on Thursday, July 23rd. Wells Fargo & Company raised their price target on shares of BOK Financial from $130.00 to $138.00 and gave the stock an "equal weight" rating in a research note on Monday, July 6th. Benchmark assumed coverage on shares of BOK Financial in a report on Wednesday, June 24th. They set a "hold" rating for the company. Keefe, Bruyette & Woods boosted their price objective on shares of BOK Financial from $143.00 to $146.00 and gave the company a "market perform" rating in a research report on Friday, July 24th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of BOK Financial in a research note on Tuesday, June 9th. Two equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $139.45.

BOK Financial Stock Down 0.0%

Shares of NASDAQ BOKF opened at $144.47 on Friday. BOK Financial Corporation has a 12-month low of $99.88 and a 12-month high of $146.22. The stock's fifty day simple moving average is $136.82 and its two-hundred day simple moving average is $132.84. The stock has a market capitalization of $8.78 billion, a PE ratio of 13.62 and a beta of 0.80. The company has a current ratio of 0.78, a quick ratio of 0.81 and a debt-to-equity ratio of 0.57.

BOK Financial (NASDAQ:BOKF - Get Free Report) last released its quarterly earnings results on Monday, July 20th. The bank reported $2.59 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.09). BOK Financial had a return on equity of 10.09% and a net margin of 18.97%.The company had revenue of $602.54 million during the quarter, compared to the consensus estimate of $568.08 million. During the same period in the previous year, the firm posted $2.19 earnings per share. The company's revenue was up 5.4% on a year-over-year basis. As a group, analysts expect that BOK Financial Corporation will post 10.32 EPS for the current fiscal year.

Insider Buying and Selling

In other BOK Financial news, EVP Brad A. Vincent sold 4,015 shares of the business's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $145.42, for a total value of $583,861.30. Following the completion of the transaction, the executive vice president directly owned 6,031 shares in the company, valued at approximately $877,028.02. The trade was a 39.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 63.53% of the company's stock.

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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