Cibc World Market Inc. Increases Stock Position in BOK Financial Corporation $BOKF

Key Points

• Cibc World Market Inc. boosted its stake in BOK Financial by 39% in the fourth quarter, ending with 908,800 shares worth about $107.7 million. Other institutions also increased or established positions, and hedge funds now own 34.44% of the company.
• BOK Financial reported strong quarterly earnings of $2.58 per share, beating analyst estimates by $0.28, with revenue also slightly ahead of expectations. The company’s net margin was 18.05% and return on equity 9.89%.
• The bank declared a quarterly dividend of $0.63 per share, or $2.52 annually, for a yield of 2.0%. Meanwhile, analysts largely rate the stock a Hold, with an average price target of $134.91.

Cibc World Market Inc. grew its position in BOK Financial Corporation (NASDAQ:BOKF - Free Report) by 39.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 908,800 shares of the bank's stock after purchasing an additional 254,800 shares during the period. Cibc World Market Inc. owned about 1.44% of BOK Financial worth $107,656,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of BOK Financial by 2.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,629,362 shares of the bank's stock valued at $293,015,000 after purchasing an additional 59,241 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of BOK Financial in the third quarter valued at about $123,231,000. First Trust Advisors LP increased its holdings in BOK Financial by 39.8% during the third quarter. First Trust Advisors LP now owns 527,601 shares of the bank's stock worth $58,796,000 after buying an additional 150,210 shares during the last quarter. Geode Capital Management LLC increased its holdings in BOK Financial by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 423,544 shares of the bank's stock worth $50,184,000 after buying an additional 4,927 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in BOK Financial by 1.3% during the third quarter. AQR Capital Management LLC now owns 420,477 shares of the bank's stock worth $46,808,000 after buying an additional 5,260 shares during the last quarter. Hedge funds and other institutional investors own 34.44% of the company's stock.

BOK Financial Price Performance

Shares of NASDAQ:BOKF opened at $125.39 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $7.62 billion, a PE ratio of 12.69 and a beta of 0.81. BOK Financial Corporation has a twelve month low of $91.35 and a twelve month high of $139.73. The company has a 50-day moving average price of $130.81 and a two-hundred day moving average price of $126.30.

BOK Financial (NASDAQ:BOKF - Get Free Report) last issued its earnings results on Monday, April 20th. The bank reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.30 by $0.28. The firm had revenue of $553.82 million during the quarter, compared to analyst estimates of $549.71 million. BOK Financial had a net margin of 18.05% and a return on equity of 9.89%. During the same quarter last year, the business earned $1.86 earnings per share. Equities analysts forecast that BOK Financial Corporation will post 10.24 EPS for the current year.

BOK Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Wednesday, May 13th. BOK Financial's dividend payout ratio (DPR) is currently 25.51%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of BOK Financial from $115.00 to $127.00 and gave the stock an "equal weight" rating in a report on Monday, March 30th. Citigroup raised their price objective on shares of BOK Financial from $135.00 to $138.00 and gave the stock a "neutral" rating in a report on Thursday, April 23rd. Barclays raised their price objective on shares of BOK Financial from $135.00 to $145.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 7th. DA Davidson raised their price objective on shares of BOK Financial from $132.00 to $139.00 and gave the stock a "neutral" rating in a report on Wednesday, April 22nd. Finally, Royal Bank Of Canada raised their price objective on shares of BOK Financial from $136.00 to $145.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $134.91.

Insiders Place Their Bets

In other BOK Financial news, Director Steven Bangert sold 2,100 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $134.78, for a total transaction of $283,038.00. Following the completion of the transaction, the director owned 32,816 shares in the company, valued at $4,422,940.48. This trade represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark B. Wade sold 1,700 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $132.62, for a total transaction of $225,454.00. Following the transaction, the executive vice president owned 20,361 shares of the company's stock, valued at $2,700,275.82. This represents a 7.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,500 shares of company stock worth $738,571 over the last quarter. 63.53% of the stock is currently owned by company insiders.

BOK Financial Company 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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