Wolverine Asset Management LLC Purchases 5,584 Shares of BOK Financial Corporation (NASDAQ:BOKF)

Key Points

• Wolverine Asset Management LLC increased its position in BOK Financial Corporation by 29%, now holding 24,840 shares worth approximately $2.59 million.
• BOK Financial reported an EPS of $2.19, exceeding analysts' expectations of $1.98, alongside a quarterly revenue of $525.5 million.
• The firm declared a quarterly dividend of $0.57, with an annualized dividend yield of 2.3%, set to be paid on August 27th.

Wolverine Asset Management LLC increased its holdings in BOK Financial Corporation (NASDAQ:BOKF - Free Report) by 29.0% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 24,840 shares of the bank's stock after buying an additional 5,584 shares during the quarter. Wolverine Asset Management LLC's holdings in BOK Financial were worth $2,587,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BOKF. Freestone Grove Partners LP purchased a new position in BOK Financial in the fourth quarter worth about $21,740,000. AQR Capital Management LLC boosted its position 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 during the last quarter. Dimensional Fund Advisors LP boosted its position in BOK Financial by 4.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,372,203 shares of the bank's stock worth $252,526,000 after purchasing an additional 98,588 shares during the last quarter. FIL Ltd purchased a new position in BOK Financial in the fourth quarter worth about $6,281,000. Finally, Raymond James Financial Inc. purchased a new position in BOK Financial in the fourth quarter worth about $6,138,000. 34.44% of the stock is currently owned by institutional investors.

BOK Financial Price Performance

Shares of BOKF stock traded down $0.54 during mid-day trading on Monday, hitting $100.74. The company had a trading volume of 115,380 shares, compared to its average volume of 266,764. BOK Financial Corporation has a 52-week low of $85.07 and a 52-week high of $121.58. The stock's 50 day moving average price is $99.75 and its 200-day moving average price is $99.96. 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 company has a market capitalization of $6.41 billion, a P/E ratio of 12.06 and a beta of 0.88.

BOK Financial (NASDAQ:BOKF - Get Free Report) last released its earnings results on Monday, July 21st. The bank reported $2.19 EPS for the quarter, topping 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 firm 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. Equities research analysts forecast that BOK Financial Corporation will post 8.83 earnings per share for the current year.

BOK Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $2.28 dividend on an annualized basis and a yield of 2.3%. BOK Financial's payout ratio is presently 27.31%.

Analyst Ratings Changes

Several research analysts have issued reports on BOKF shares. Barclays raised their target price on BOK Financial from $110.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Citigroup lifted their price objective on BOK Financial from $97.00 to $100.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Stephens lowered their price objective on BOK Financial from $124.00 to $110.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 23rd. Raymond James Financial set a $105.00 price objective on BOK Financial in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company set a $110.00 price objective on BOK Financial and gave the company an "equal weight" rating in a research report on Monday, July 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $112.58.

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.