Charles Schwab Investment Management Inc. Decreases Stock Holdings in BOK Financial Corporation $BOKF

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in BOK Financial Corporation by 2.0%, owning 226,359 shares worth $23,575,000 at the end of the latest quarter.
• Various institutional investors modified their stakes in BOK Financial, with notable increases by AQR Capital Management (80%) and Millennium Management (29.4%) during the fourth quarter.
• BOK Financial announced a quarterly dividend of $0.57, yielding 2.2%, with payment scheduled for August 27th, marking a payout ratio of 27.31%.

Charles Schwab Investment Management Inc. trimmed its holdings in shares of BOK Financial Corporation (NASDAQ:BOKF - Free Report) by 2.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 226,359 shares of the bank's stock after selling 4,549 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.35% of BOK Financial worth $23,575,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BOKF. Freestone Grove Partners LP purchased a new stake in shares of BOK Financial during the fourth quarter valued at approximately $21,740,000. AQR Capital Management LLC increased its position in shares of BOK Financial by 80.0% during the fourth quarter. AQR Capital Management LLC now owns 414,548 shares of the bank's stock valued at $44,129,000 after acquiring an additional 184,261 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of BOK Financial during the fourth quarter valued at approximately $6,138,000. Millennium Management LLC increased its position in shares of BOK Financial by 29.4% during the fourth quarter. Millennium Management LLC now owns 252,779 shares of the bank's stock valued at $26,908,000 after acquiring an additional 57,420 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in BOK Financial by 51.7% during the fourth quarter. First Trust Advisors LP now owns 158,637 shares of the bank's stock valued at $16,887,000 after purchasing an additional 54,075 shares during the period. 34.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BOKF has been the subject of a number of recent research reports. Royal Bank Of Canada raised their target price on BOK Financial from $104.00 to $110.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. Keefe, Bruyette & Woods raised their target price on BOK Financial from $101.00 to $115.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. Stephens decreased their target price on BOK Financial from $124.00 to $110.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 23rd. Citigroup raised their target price on BOK Financial from $97.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Finally, Jefferies Financial Group initiated coverage on BOK Financial in a research report on Wednesday, May 21st. They issued a "hold" rating and a $105.00 target price for the company. Three analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $112.58.

BOK Financial Price Performance

Shares of NASDAQ BOKF opened at $105.63 on Thursday. The stock has a market cap of $6.72 billion, a PE ratio of 12.65 and a beta of 0.88. BOK Financial Corporation has a fifty-two week low of $85.07 and a fifty-two week high of $121.58. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.77 and a current ratio of 0.78. The stock has a fifty day moving average of $101.14 and a 200-day moving average of $99.85.

BOK Financial (NASDAQ:BOKF - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The bank reported $2.19 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.21. The company had revenue of $525.50 million during the quarter, compared to analysts' expectations of $521.80 million. BOK Financial had a return on equity of 9.39% and a net margin of 15.80%.During the same period in the previous year, the business earned $2.54 earnings per share. Equities research 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 declared a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders 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 dividend yield of 2.2%. BOK Financial's payout ratio is 27.31%.

BOK Financial Company 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.

Want to see what other hedge funds are holding BOKF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BOK Financial Corporation (NASDAQ:BOKF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.