BOK Financial Corporation $BOKF Shares Sold by Diamond Hill Capital Management Inc.

Key Points

• Diamond Hill Capital Management cut its BOK Financial stake by 46.1% in the fourth quarter, selling 14,944 shares and leaving it with 17,471 shares valued at about $2.07 million.
• Insider selling continued recently, with EVP Mark B. Wade and Director Steven Bangert both reducing their holdings; insiders have sold 5,500 shares over the last 90 days.
• BOK Financial beat earnings expectations for the latest quarter, reporting $2.58 EPS versus the $2.30 estimate, while the company also declared a quarterly dividend of $0.63 per share.

Diamond Hill Capital Management Inc. lowered its position in BOK Financial Corporation (NASDAQ:BOKF - Free Report) by 46.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,471 shares of the bank's stock after selling 14,944 shares during the quarter. Diamond Hill Capital Management Inc.'s holdings in BOK Financial were worth $2,070,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BOKF. CIBC Bancorp USA Inc. acquired a new position in BOK Financial in the third quarter valued at $123,231,000. Freestone Grove Partners LP boosted its holdings in BOK Financial by 407.0% in the third quarter. Freestone Grove Partners LP now owns 363,610 shares of the bank's stock valued at $40,521,000 after acquiring an additional 291,894 shares during the last quarter. First Trust Advisors LP boosted its holdings in BOK Financial by 39.8% in the third quarter. First Trust Advisors LP now owns 527,601 shares of the bank's stock valued at $58,796,000 after acquiring an additional 150,210 shares during the last quarter. Qube Research & Technologies Ltd boosted its holdings in BOK Financial by 193.7% in the second quarter. Qube Research & Technologies Ltd now owns 226,230 shares of the bank's stock valued at $22,087,000 after acquiring an additional 149,201 shares during the last quarter. Finally, Two Sigma Investments LP lifted its stake 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 worth $16,135,000 after purchasing an additional 121,045 shares in the last quarter. Institutional investors and hedge funds own 34.44% of the company's stock.

Insider Transactions at BOK Financial

In other news, EVP Mark B. Wade sold 1,700 shares of BOK Financial stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $132.62, for a total transaction of $225,454.00. Following the sale, the executive vice president directly owned 20,361 shares of the company's stock, valued at approximately $2,700,275.82. The trade was a 7.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven Bangert sold 500 shares of BOK Financial stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $134.91, for a total value of $67,455.00. Following the sale, the director directly owned 10,436 shares in the company, valued at approximately $1,407,920.76. The trade was a 4.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 5,500 shares of company stock valued at $738,571. 63.53% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BOKF shares. Barclays boosted their price objective on BOK Financial from $135.00 to $145.00 and gave the stock an "equal weight" rating in a research note on Tuesday, April 7th. Citigroup boosted their price objective on BOK Financial from $135.00 to $138.00 and gave the stock a "neutral" rating in a research note on Thursday, April 23rd. Wells Fargo & Company boosted their price objective on BOK Financial from $115.00 to $127.00 and gave the stock an "equal weight" rating in a research note on Monday, March 30th. Zacks Research cut BOK Financial from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. Finally, DA Davidson boosted their price objective on BOK Financial from $132.00 to $139.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, BOK Financial currently has a consensus rating of "Hold" and a consensus price target of $134.91.

BOK Financial Trading Up 0.8%

Shares of BOKF opened at $130.74 on Friday. BOK Financial Corporation has a 12 month low of $91.35 and a 12 month high of $139.73. The stock has a market cap of $7.94 billion, a PE ratio of 13.23 and a beta of 0.83. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The stock's 50-day moving average is $130.28 and its two-hundred day moving average is $124.98.

BOK Financial (NASDAQ:BOKF - Get Free Report) last announced its earnings results on Monday, April 20th. The bank reported $2.58 earnings per share (EPS) for the quarter, topping 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 business had revenue of $553.82 million for the quarter, compared to analyst estimates of $549.71 million. During the same period in the previous year, the company earned $1.86 earnings per share. Equities analysts forecast that BOK Financial Corporation will post 10.24 earnings per share for the current fiscal year.

BOK Financial Dividend Announcement

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

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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