BOK Financial Corporation $BOKF Stock Position Boosted by Millennium Management LLC

Key Points

• Millennium Management LLC increased its stake in BOK Financial Corporation by 6.4%, now owning 268,887 shares worth approximately $28 million.
• Research firms have issued mixed ratings on BOK Financial, with Wall Street Zen downgrading the stock from "hold" to "sell" while Barclays and Jefferies raised their price targets and maintained "equal weight" and "hold" ratings respectively.
• BOK Financial reported earnings of $2.19 per share for the last quarter, exceeding expectations by $0.21, and announced a quarterly dividend payment of $0.57 per share.

Millennium Management LLC lifted its position in shares of BOK Financial Corporation (NASDAQ:BOKF - Free Report) by 6.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 268,887 shares of the bank's stock after purchasing an additional 16,108 shares during the period. Millennium Management LLC owned about 0.42% of BOK Financial worth $28,005,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of BOK Financial during the first quarter worth $47,000. Versant Capital Management Inc lifted its position in shares of BOK Financial by 1,046.7% during the first quarter. Versant Capital Management Inc now owns 1,376 shares of the bank's stock worth $143,000 after purchasing an additional 1,256 shares in the last quarter. 111 Capital acquired a new position in shares of BOK Financial during the fourth quarter worth $206,000. New York State Teachers Retirement System acquired a new position in shares of BOK Financial during the first quarter worth $218,000. Finally, EntryPoint Capital LLC acquired a new position in shares of BOK Financial during the first quarter worth $225,000. 34.44% of the stock is owned by institutional investors and hedge funds.

BOK Financial Stock Performance

Shares of BOKF stock traded down $0.32 during trading hours on Friday, reaching $110.92. The stock had a trading volume of 198,172 shares, compared to its average volume of 183,464. 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 Corporation has a twelve month low of $85.07 and a twelve month high of $121.58. The firm has a 50-day simple moving average of $106.17 and a 200-day simple moving average of $99.94. The firm has a market capitalization of $7.06 billion, a PE ratio of 13.28 and a beta of 0.91.

BOK Financial (NASDAQ:BOKF - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The bank reported $2.19 earnings per share for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $521.80 million. During the same quarter last year, the company earned $2.54 EPS. As a group, equities analysts forecast that BOK Financial Corporation will post 8.83 earnings per share for the current year.

BOK Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, August 13th. BOK Financial's dividend payout ratio (DPR) is 27.31%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Barclays upped their price target on shares of BOK Financial from $110.00 to $115.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods upped their price target on shares of BOK Financial from $101.00 to $115.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. DA Davidson upped their price target on shares of BOK Financial from $114.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Citigroup upped their price target on shares of BOK Financial from $97.00 to $100.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Finally, Jefferies Financial Group upped their price target on shares of BOK Financial from $110.00 to $120.00 and gave the company a "hold" rating in a report on Wednesday, September 3rd. Three analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, BOK Financial currently has an average rating of "Hold" and an average target price of $113.83.

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.