BOK Financial Corporation $BOKF Shares Acquired by AlphaQuest LLC

Key Points

• AlphaQuest LLC sharply increased its BOK Financial stake by 1,003% in the fourth quarter, ending with 23,461 shares valued at about $2.78 million.
• BOK Financial posted solid quarterly results, reporting EPS of $2.58 versus the $2.30 consensus estimate and revenue of $553.82 million, while analysts currently see full-year EPS at 10.24.
• The company also raised its dividend to $0.63 per share quarterly, equal to an annualized payout of $2.52 and a 1.9% yield. Meanwhile, analysts remain cautious overall, with a consensus rating of “Hold” and an average price target of $134.91.

AlphaQuest LLC increased its stake in BOK Financial Corporation (NASDAQ:BOKF - Free Report) by 1,003.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,461 shares of the bank's stock after acquiring an additional 21,334 shares during the quarter. AlphaQuest LLC's holdings in BOK Financial were worth $2,779,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BOKF. CIBC Bancorp USA Inc. acquired a new position in shares of BOK Financial in the 3rd quarter worth $123,231,000. Freestone Grove Partners LP grew its holdings 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 in the last quarter. First Trust Advisors LP grew its holdings in shares of BOK Financial by 39.8% during the third quarter. First Trust Advisors LP now owns 527,601 shares of the bank's stock valued at $58,796,000 after buying an additional 150,210 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in shares of BOK Financial by 193.7% during the second quarter. Qube Research & Technologies Ltd now owns 226,230 shares of the bank's stock valued at $22,087,000 after buying an additional 149,201 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in shares of BOK Financial by 509.9% during the third quarter. Two Sigma Investments LP now owns 144,782 shares of the bank's stock valued at $16,135,000 after buying an additional 121,045 shares in the last quarter. 34.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other BOK Financial news, EVP Mark B. Wade sold 1,700 shares of the business's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $132.62, for a total value of $225,454.00. Following the completion of the sale, the executive vice president owned 20,361 shares of the company's stock, valued at $2,700,275.82. The trade was a 7.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey A. Reid sold 1,200 shares of the business's stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $135.52, for a total value of $162,624.00. Following the completion of the sale, the executive vice president directly owned 8,116 shares of the company's stock, valued at $1,099,880.32. This represents a 12.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 5,500 shares of company stock valued at $738,571 over the last quarter. Insiders own 63.53% of the company's stock.

BOK Financial Price Performance

BOKF opened at $132.43 on Wednesday. The stock has a market cap of $8.05 billion, a price-to-earnings ratio of 13.40 and a beta of 0.83. BOK Financial Corporation has a 1 year low of $91.35 and a 1 year high of $139.73. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. The stock has a fifty day moving average price of $130.54 and a 200 day moving average price of $125.49.

BOK Financial (NASDAQ:BOKF - Get Free Report) last released its quarterly earnings data on Monday, April 20th. The bank reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.30 by $0.28. BOK Financial had a return on equity of 9.89% 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 quarter last year, the firm earned $1.86 earnings per share. Analysts forecast that BOK Financial Corporation will post 10.24 EPS for the current fiscal year.

BOK Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th will be given a $0.63 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.9%. BOK Financial's payout ratio is currently 25.51%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Royal Bank Of Canada lifted their price target on BOK Financial from $136.00 to $145.00 and gave the company a "sector perform" rating in a report on Wednesday, April 22nd. Citigroup lifted their price target on BOK Financial from $135.00 to $138.00 and gave the company a "neutral" rating in a report on Thursday, April 23rd. Wells Fargo & Company lifted their price target on BOK Financial from $115.00 to $127.00 and gave the company an "equal weight" rating in a report on Monday, March 30th. DA Davidson lifted their price target on BOK Financial from $132.00 to $139.00 and gave the company a "neutral" rating in a report on Wednesday, April 22nd. Finally, Barclays lifted their price target on BOK Financial from $135.00 to $145.00 and gave the company an "equal weight" rating in a report on Tuesday, April 7th. Three investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, BOK Financial currently has an average rating of "Hold" and a consensus target price of $134.91.

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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