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. cut its position in BOK Financial Corporation (NASDAQ:BOKF - Free Report) by 2.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 226,359 shares of the bank's stock after selling 4,549 shares during the period. Charles Schwab Investment Management Inc. owned 0.35% of BOK Financial worth $23,575,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of BOKF. 111 Capital acquired a new position in shares of BOK Financial in the 4th quarter valued at $206,000. Bank of America Corp DE boosted its holdings in shares of BOK Financial by 27.4% in the 4th quarter. Bank of America Corp DE now owns 56,314 shares of the bank's stock valued at $5,995,000 after buying an additional 12,108 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of BOK Financial by 10,687.0% in the 1st quarter. GAMMA Investing LLC now owns 51,346 shares of the bank's stock valued at $5,348,000 after buying an additional 50,870 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of BOK Financial by 8.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 236,832 shares of the bank's stock valued at $24,415,000 after buying an additional 18,355 shares in the last quarter. Finally, Captrust Financial Advisors acquired a new position in shares of BOK Financial in the 4th quarter valued at $368,000. 34.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BOKF has been the subject of several research analyst reports. Wells Fargo & Company set a $110.00 target price on shares of BOK Financial and gave the company an "equal weight" rating in a report on Monday, July 28th. Jefferies Financial Group initiated coverage on shares of BOK Financial in a report on Wednesday, May 21st. They issued a "hold" rating and a $105.00 target price for the company. Keefe, Bruyette & Woods upped their target price on shares of BOK Financial from $101.00 to $115.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Hovde Group upped their target price on shares of BOK Financial from $110.00 to $123.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Finally, Royal Bank Of Canada increased their price target on shares of BOK Financial from $104.00 to $110.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 23rd. Three research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, BOK Financial currently has an average rating of "Hold" and a consensus target price of $112.58.

BOK Financial Stock Performance

Shares of BOKF stock traded up $1.11 during mid-day trading on Tuesday, hitting $111.37. The stock had a trading volume of 241,870 shares, compared to its average volume of 195,990. BOK Financial Corporation has a fifty-two week low of $85.07 and a fifty-two week high of $121.58. The firm has a market cap of $7.08 billion, a PE ratio of 13.34 and a beta of 0.88. 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's 50-day simple moving average is $102.42 and its 200-day simple moving average is $99.75.

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 company had revenue of $525.50 million during the quarter, compared to analysts' expectations of $521.80 million. During the same quarter last year, the business earned $2.54 EPS. Sell-side analysts anticipate that BOK Financial Corporation will post 8.83 earnings per share for the current year.

BOK Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Wednesday, August 13th. BOK Financial's dividend payout ratio (DPR) 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.