BOK Financial Corporation $BOKF Position Reduced by Cambiar Investors LLC

Key Points

• Cambiar Investors LLC cut its stake in BOK Financial by 20.9%, selling 13,308 shares and leaving it with 50,350 shares valued at about $5.96 million at quarter-end.
• Several analysts have raised price targets recently—Barclays to $145 and others into the low-to-mid $130s—yet the stock carries a consensus rating of "Hold" with an average target of $131.17.
• BOKF reported a quarterly EPS beat of $2.48 versus $2.16 expected and $589.6M in revenue, and pays a $0.63 quarterly dividend (annualized $2.52, ~1.9% yield) with a 27.5% payout ratio.

Cambiar Investors LLC decreased its position in shares of BOK Financial Corporation (NASDAQ:BOKF - Free Report) by 20.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,350 shares of the bank's stock after selling 13,308 shares during the period. Cambiar Investors LLC owned 0.08% of BOK Financial worth $5,964,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its holdings in BOK Financial by 92.5% during the third quarter. Versant Capital Management Inc now owns 256 shares of the bank's stock worth $29,000 after purchasing an additional 123 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of BOK Financial in the third quarter valued at $41,000. Quent Capital LLC bought a new position in shares of BOK Financial in the third quarter valued at $47,000. EverSource Wealth Advisors LLC increased its holdings in shares of BOK Financial by 109.2% in the second quarter. EverSource Wealth Advisors LLC now owns 500 shares of the bank's stock valued at $49,000 after buying an additional 261 shares in the last quarter. Finally, CIBC Private Wealth Group LLC bought a new position in shares of BOK Financial in the third quarter valued at $55,000. Institutional investors own 34.44% of the company's stock.

Analyst Upgrades and Downgrades

BOKF has been the topic of several research reports. Keefe, Bruyette & Woods upped their price target on BOK Financial from $116.00 to $135.00 and gave the company a "market perform" rating in a report on Wednesday, January 21st. DA Davidson reaffirmed a "neutral" rating and issued a $135.00 price target (up from $125.00) on shares of BOK Financial in a report on Monday, January 26th. Royal Bank Of Canada upped their price target on BOK Financial from $124.00 to $132.00 and gave the company a "sector perform" rating in a report on Wednesday, January 21st. Weiss Ratings reissued a "buy (b-)" rating on shares of BOK Financial in a research note on Wednesday, January 21st. Finally, Barclays boosted their target price on shares of BOK Financial from $135.00 to $145.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 7th. Three equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $131.17.

BOK Financial Price Performance

Shares of NASDAQ:BOKF opened at $134.15 on Friday. The company's fifty day moving average is $129.65 and its two-hundred day moving average is $120.56. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.53. BOK Financial Corporation has a 12-month low of $85.44 and a 12-month high of $138.42. The company has a market cap of $8.15 billion, a P/E ratio of 14.65 and a beta of 0.85.

BOK Financial (NASDAQ:BOKF - Get Free Report) last announced its earnings results on Friday, January 16th. The bank reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.32. BOK Financial had a net margin of 17.10% and a return on equity of 9.36%. The company had revenue of $589.56 million for the quarter, compared to the consensus estimate of $550.05 million. During the same period in the previous year, the business earned $2.12 EPS. Equities analysts expect that BOK Financial Corporation will post 8.83 earnings per share for the current fiscal year.

BOK Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Thursday, February 19th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Thursday, February 19th. BOK Financial's payout ratio is currently 27.51%.

Insider Activity at BOK Financial

In other news, Director Steven Bangert sold 2,500 shares of the business's stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $137.71, for a total transaction of $344,275.00. Following the transaction, the director directly owned 34,916 shares in the company, valued at $4,808,282.36. The trade was a 6.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 63.53% of the stock is currently owned by corporate insiders.

BOK Financial Profile

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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