BOK Financial Corporation $BOKF Shares Acquired 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 grew its position in BOK Financial Corporation (NASDAQ:BOKF - Free Report) by 6.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 268,887 shares of the bank's stock after purchasing an additional 16,108 shares during the period. Millennium Management LLC owned approximately 0.42% of BOK Financial worth $28,005,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. AQR Capital Management LLC lifted its holdings in BOK Financial by 39.8% in the first quarter. AQR Capital Management LLC now owns 579,732 shares of the bank's stock valued at $59,446,000 after acquiring an additional 165,184 shares during the period. Ariel Investments LLC lifted its holdings in BOK Financial by 0.3% in the first quarter. Ariel Investments LLC now owns 1,808,295 shares of the bank's stock valued at $188,334,000 after acquiring an additional 5,614 shares during the period. Dark Forest Capital Management LP lifted its holdings in BOK Financial by 1,589.4% in the first quarter. Dark Forest Capital Management LP now owns 32,402 shares of the bank's stock valued at $3,375,000 after acquiring an additional 30,484 shares during the period. Royal Bank of Canada lifted its holdings in BOK Financial by 11.3% in the first quarter. Royal Bank of Canada now owns 3,201 shares of the bank's stock valued at $333,000 after acquiring an additional 324 shares during the period. Finally, Trexquant Investment LP grew its holdings in BOK Financial by 58.4% in the first quarter. Trexquant Investment LP now owns 39,499 shares of the bank's stock valued at $4,114,000 after purchasing an additional 14,566 shares during the period. 34.44% of the stock is owned by institutional investors and hedge funds.

BOK Financial Trading Up 1.3%

BOK Financial stock traded up $1.41 during trading on Wednesday, reaching $110.53. 29,722 shares of the company were exchanged, compared to its average volume of 193,646. BOK Financial Corporation has a 52-week low of $85.07 and a 52-week high of $121.58. The company has a market capitalization of $7.03 billion, a P/E ratio of 13.24 and a beta of 0.91. 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's 50 day simple moving average is $106.45 and its two-hundred day simple moving average is $99.95.

BOK Financial (NASDAQ:BOKF - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The bank reported $2.19 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 firm had revenue of $525.50 million for the quarter, compared to the consensus estimate of $521.80 million. During the same quarter last year, the business posted $2.54 earnings per share. On average, equities research analysts expect that BOK Financial Corporation will post 8.83 earnings per share for the current fiscal year.

BOK Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

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