Entropy Technologies LP Cuts Position in BOK Financial Corporation $BOKF

Key Points

• Entropy Technologies LP reduced its holdings in BOK Financial Corporation by 42.9%, now owning 3,600 shares valued at $375,000.
• BOK Financial Corporation reported $2.19 earnings per share for the last quarter, exceeding analysts' expectations of $1.98.
• The company declared a quarterly dividend of $0.57 per share, translating to an annualized payout of $2.28 and a yield of 2.2%.

Entropy Technologies LP cut its holdings in shares of BOK Financial Corporation (NASDAQ:BOKF - Free Report) by 42.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,600 shares of the bank's stock after selling 2,700 shares during the period. Entropy Technologies LP's holdings in BOK Financial were worth $375,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BOKF. True Wealth Design LLC lifted its stake in shares of BOK Financial by 66.9% in the 4th quarter. True Wealth Design LLC now owns 282 shares of the bank's stock valued at $30,000 after acquiring an additional 113 shares during the last quarter. Nicolet Advisory Services LLC increased its holdings in BOK Financial by 6.9% in the first quarter. Nicolet Advisory Services LLC now owns 2,386 shares of the bank's stock valued at $249,000 after purchasing an additional 153 shares during the period. Stifel Financial Corp grew its holdings in BOK Financial by 5.9% during the 4th quarter. Stifel Financial Corp now owns 4,643 shares of the bank's stock worth $494,000 after acquiring an additional 258 shares during the period. Forum Financial Management LP grew its holdings in BOK Financial by 14.7% during the 4th quarter. Forum Financial Management LP now owns 2,362 shares of the bank's stock worth $251,000 after acquiring an additional 302 shares during the period. Finally, Parallel Advisors LLC grew its holdings in BOK Financial by 6.2% during the 1st quarter. Parallel Advisors LLC now owns 6,795 shares of the bank's stock worth $708,000 after acquiring an additional 396 shares during the period. 34.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BOKF has been the subject of several research reports. Barclays raised their target price on BOK Financial from $110.00 to $115.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. Wall Street Zen downgraded BOK Financial from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Hovde Group boosted their target price on BOK Financial from $110.00 to $123.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Wells Fargo & Company set a $110.00 price target on shares of BOK Financial and gave the stock an "equal weight" rating in a report on Monday, July 28th. Finally, DA Davidson boosted their target price 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, BOK Financial currently has an average rating of "Hold" and an average target price of $112.58.

BOK Financial Price Performance

Shares of BOK Financial stock traded up $1.15 during trading on Monday, hitting $105.46. The stock had a trading volume of 42,574 shares, compared to its average volume of 193,632. The firm has a market cap of $6.71 billion, a price-to-earnings ratio of 12.60 and a beta of 0.88. BOK Financial Corporation has a 12 month low of $85.07 and a 12 month high of $121.58. The business's 50-day moving average is $100.57 and its 200 day moving average is $99.80. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.70.

BOK Financial (NASDAQ:BOKF - Get Free Report) last announced its earnings results on Monday, July 21st. The bank reported $2.19 earnings per share (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 company had revenue of $525.50 million during the quarter, compared to analyst estimates of $521.80 million. During the same period in the previous year, the business earned $2.54 earnings per share. As a group, sell-side analysts anticipate that BOK Financial Corporation will post 8.83 earnings per share for the current year.

BOK Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th will be given a $0.57 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $2.28 annualized dividend and a yield of 2.2%. BOK Financial's payout ratio is 27.31%.

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.