California State Teachers Retirement System Grows Position in BOK Financial Corporation $BOKF

Key Points

• California State Teachers Retirement System increased its BOK Financial stake by 48% in the first quarter, acquiring 10,030 additional shares for a total holding worth approximately $3.96 million. Institutional investors collectively own 34.44% of the company.
• BOK Financial reported quarterly EPS of $2.59, below the $2.68 analyst consensus, while revenue rose 5.4% year over year to $602.54 million. The company declared a quarterly dividend of $0.63 per share, representing a 1.8% annualized yield.
• BOKF shares opened at $143.80, near their 12-month high of $146.21, while analysts maintained a broadly cautious outlook: the stock carries an average “Hold” rating and a consensus price target of $139.45.

California State Teachers Retirement System boosted its position in BOK Financial Corporation (NASDAQ:BOKF - Free Report) by 48.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,945 shares of the bank's stock after acquiring an additional 10,030 shares during the quarter. California State Teachers Retirement System owned 0.05% of BOK Financial worth $3,963,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its holdings in shares of BOK Financial by 173.1% in the 4th quarter. Farther Finance Advisors LLC now owns 213 shares of the bank's stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. Pinnacle Holdings LLC acquired a new position in shares of BOK Financial during the fourth quarter worth $31,000. Fifth Third Bancorp grew its stake in shares of BOK Financial by 2,291.7% during the first quarter. Fifth Third Bancorp now owns 287 shares of the bank's stock worth $37,000 after purchasing an additional 275 shares in the last quarter. Covestor Ltd increased its holdings in BOK Financial by 108.0% in the fourth quarter. Covestor Ltd now owns 366 shares of the bank's stock valued at $43,000 after buying an additional 190 shares during the last quarter. Finally, Root Financial Partners LLC increased its holdings in BOK Financial by 56.2% in the first quarter. Root Financial Partners LLC now owns 367 shares of the bank's stock valued at $47,000 after buying an additional 132 shares during the last quarter. Hedge funds and other institutional investors own 34.44% of the company's stock.

Insider Buying and Selling

In other BOK Financial news, EVP Brad A. Vincent sold 4,015 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $145.42, for a total transaction of $583,861.30. Following the completion of the sale, the executive vice president directly owned 6,031 shares of the company's stock, valued at approximately $877,028.02. This trade represents a 39.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 63.53% of the stock is currently owned by corporate insiders.

BOK Financial Stock Down 0.5%

BOKF stock opened at $143.80 on Friday. The company has a market cap of $8.74 billion, a price-to-earnings ratio of 13.55 and a beta of 0.80. The company has a fifty day moving average price of $137.13 and a 200 day moving average price of $132.92. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.78 and a quick ratio of 0.81. BOK Financial Corporation has a 12 month low of $99.88 and a 12 month high of $146.21.

BOK Financial (NASDAQ:BOKF - Get Free Report) last posted its quarterly earnings data on Monday, July 20th. The bank reported $2.59 EPS for the quarter, missing analysts' consensus estimates of $2.68 by ($0.09). BOK Financial had a net margin of 18.97% and a return on equity of 10.09%. The business had revenue of $602.54 million during the quarter, compared to analyst estimates of $568.08 million. During the same quarter in the prior year, the firm posted $2.19 earnings per share. The company's revenue for the quarter was up 5.4% compared to the same quarter last year. Sell-side analysts expect that BOK Financial Corporation will post 10.32 earnings per share for the current year.

BOK Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.8%. The ex-dividend date is Wednesday, August 19th. BOK Financial's payout ratio is 23.75%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BOKF shares. Benchmark began coverage on BOK Financial in a research report on Wednesday, June 24th. They set a "hold" rating for the company. Barclays boosted their target price on BOK Financial from $150.00 to $155.00 and gave the stock an "equal weight" rating in a research note on Monday, August 3rd. DA Davidson reaffirmed a "neutral" rating and issued a $150.00 price target on shares of BOK Financial in a report on Tuesday, July 21st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of BOK Financial in a report on Tuesday, June 9th. Finally, Wells Fargo & Company increased their price target on shares of BOK Financial from $130.00 to $138.00 and gave the company an "equal weight" rating in a research note on Monday, July 6th. Two equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, BOK Financial presently has an average rating of "Hold" and an average target price of $139.45.

BOK Financial Profile

BOK Financial Corporation NASDAQ: BOKF, headquartered in Tulsa, Oklahoma, is a diversified financial services holding company serving businesses, professionals and individuals across the central and western United States. Through its banking subsidiary, BOK Financial offers a full suite of commercial banking, treasury and payment management services, as well as consumer deposit and lending solutions. The company's offerings also encompass wealth management, trust and asset management, investment banking, and insurance products designed to meet the needs of both retail and institutional clients.

The roots of BOK Financial date back to the founding of the Bank of Oklahoma in 1910.

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