Dimensional Fund Advisors LP Increases Stock Holdings in BOK Financial Corporation $BOKF

Key Points

• Dimensional Fund Advisors LP increased its stake in BOK Financial Corporation by 3.8% in Q1, holding a total of 2,463,151 shares valued at approximately $256 million.
• BOK Financial reported $2.19 EPS for the latest quarter, exceeding analyst expectations of $1.98, with revenue of $525.5 million, slightly above the consensus estimate.
• The company declared a quarterly dividend of $0.57, with an annualized yield of 2.2%, and a dividend payout ratio of 27.31%.

Dimensional Fund Advisors LP increased its holdings in BOK Financial Corporation (NASDAQ:BOKF - Free Report) by 3.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,463,151 shares of the bank's stock after acquiring an additional 90,948 shares during the quarter. Dimensional Fund Advisors LP owned approximately 3.83% of BOK Financial worth $256,531,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BOKF. Freestone Grove Partners LP purchased a new stake in BOK Financial in the fourth quarter worth about $21,740,000. AQR Capital Management LLC raised its holdings in BOK Financial by 80.0% in the fourth quarter. AQR Capital Management LLC now owns 414,548 shares of the bank's stock worth $44,129,000 after purchasing an additional 184,261 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of BOK Financial during the fourth quarter valued at about $6,138,000. Millennium Management LLC increased its holdings in shares of BOK Financial by 29.4% during the fourth quarter. Millennium Management LLC now owns 252,779 shares of the bank's stock valued at $26,908,000 after acquiring an additional 57,420 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of BOK Financial by 51.7% during the fourth quarter. First Trust Advisors LP now owns 158,637 shares of the bank's stock valued at $16,887,000 after acquiring an additional 54,075 shares in the last quarter. 34.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BOKF. Wall Street Zen lowered BOK Financial from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Citigroup upped their price objective on BOK Financial from $97.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. DA Davidson increased their target price on BOK Financial from $114.00 to $120.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Keefe, Bruyette & Woods increased their target price on BOK Financial from $101.00 to $115.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Finally, Jefferies Financial Group started coverage on BOK Financial in a research report on Wednesday, May 21st. They set a "hold" rating and a $105.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $112.58.

BOK Financial Price Performance

NASDAQ BOKF traded up $4.78 during mid-day trading on Friday, hitting $110.43. The stock had a trading volume of 197,127 shares, compared to its average volume of 201,383. The firm's 50 day moving average is $101.68 and its 200 day moving average is $99.76. BOK Financial Corporation has a twelve month low of $85.07 and a twelve month high of $121.58. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.78 and a quick ratio of 0.77. The stock has a market capitalization of $7.02 billion, a price-to-earnings ratio of 13.23 and a beta of 0.88.

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. 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 the consensus estimate of $521.80 million. During the same period last year, the company earned $2.54 EPS. Equities research analysts forecast that BOK Financial Corporation will post 8.83 earnings per share for the current fiscal year.

BOK Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be issued a dividend of $0.57 per share. The ex-dividend date is Wednesday, August 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.1%. BOK Financial's dividend payout ratio is currently 27.31%.

BOK Financial 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.