Rafferty Asset Management LLC Sells 5,860 Shares of BOK Financial Corporation $BOKF

Key Points

• Rafferty Asset Management LLC reduced its holdings in BOK Financial Corporation by 20.8% in Q1, owning 22,306 shares valued at approximately $2.32 million after selling 5,860 shares during the quarter.
• Several institutional investors, including Dimensional Fund Advisors LP and AQR Capital Management LLC, increased their stakes in BOK Financial, reflecting varied investor confidence in the bank's performance.
• BOK Financial recently reported earnings of $2.19 per share for Q2, surpassing expectations, and announced a quarterly dividend of $0.57 per share, indicating a yield of 2.0%.

Rafferty Asset Management LLC trimmed its position in shares of BOK Financial Corporation (NASDAQ:BOKF - Free Report) by 20.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 22,306 shares of the bank's stock after selling 5,860 shares during the quarter. Rafferty Asset Management LLC's holdings in BOK Financial were worth $2,323,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BOKF. Dimensional Fund Advisors LP grew its holdings in shares of BOK Financial by 3.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,463,151 shares of the bank's stock valued at $256,531,000 after buying an additional 90,948 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of BOK Financial by 80.0% in the 4th 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. Millennium Management LLC raised its stake in shares of BOK Financial by 29.4% in the fourth quarter. Millennium Management LLC now owns 252,779 shares of the bank's stock worth $26,908,000 after purchasing an additional 57,420 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of BOK Financial by 8.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 236,832 shares of the bank's stock valued at $24,415,000 after purchasing an additional 18,355 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of BOK Financial by 2.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 229,336 shares of the bank's stock valued at $24,413,000 after buying an additional 5,591 shares during the last quarter. 34.44% of the stock is owned by hedge funds and other institutional investors.

BOK Financial Stock Performance

Shares of NASDAQ:BOKF traded up $0.91 during mid-day trading on Thursday, reaching $112.97. 94,904 shares of the company traded hands, compared to its average volume of 192,192. The company's 50 day moving average price is $104.56 and its 200-day moving average price is $99.86. The firm has a market cap of $7.19 billion, a PE ratio of 13.53 and a beta of 0.91. BOK Financial Corporation has a 52 week low of $85.07 and a 52 week 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.

BOK Financial (NASDAQ:BOKF - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The bank reported $2.19 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.21. BOK Financial had a net margin of 15.80% and a return on equity of 9.39%. The business had revenue of $525.50 million for the quarter, compared to the consensus estimate of $521.80 million. During the same quarter in the previous year, the firm earned $2.54 earnings per share. On average, equities analysts expect that BOK Financial Corporation will post 8.83 EPS for the current fiscal year.

BOK Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were given a dividend of $0.57 per share. The ex-dividend date was Wednesday, August 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.0%. BOK Financial's dividend payout ratio is currently 27.31%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Jefferies Financial Group upped their target price on shares of BOK Financial from $110.00 to $120.00 and gave the company a "hold" rating in a research note on Wednesday. Barclays increased their price objective on shares of BOK Financial from $110.00 to $115.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Hovde Group lifted their target price on shares of BOK Financial from $110.00 to $123.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Citigroup increased their price target on BOK Financial from $97.00 to $100.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Finally, Keefe, Bruyette & Woods lifted their price objective on BOK Financial from $101.00 to $115.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. Three analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $113.83.

About BOK Financial

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.