Deutsche Bank AG Sells 32,051 Shares of BOK Financial Corporation $BOKF

Key Points

• Deutsche Bank AG significantly reduced its stake in BOK Financial Corporation, selling 32,051 shares and holding just 1,638 shares afterward, valued at approximately $171,000.
• BOK Financial reported $2.19 earnings per share (EPS) for the latest quarter, surpassing analyst estimates of $1.98, and showed revenue of $525.50 million.
• The company has announced a quarterly dividend of $0.57 per share, representing a current annualized yield of 2.0% with a payout ratio of 27.31%.

Deutsche Bank AG cut its position in BOK Financial Corporation (NASDAQ:BOKF - Free Report) by 95.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,638 shares of the bank's stock after selling 32,051 shares during the period. Deutsche Bank AG's holdings in BOK Financial were worth $171,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its position in BOK Financial by 1,046.7% in the first quarter. Versant Capital Management Inc now owns 1,376 shares of the bank's stock valued at $143,000 after buying an additional 1,256 shares in the last quarter. 111 Capital acquired a new position in shares of BOK Financial during the fourth quarter worth approximately $206,000. New York State Teachers Retirement System acquired a new position in shares of BOK Financial during the first quarter worth approximately $218,000. Pallas Capital Advisors LLC acquired a new position in shares of BOK Financial during the first quarter worth approximately $234,000. Finally, Forum Financial Management LP lifted its position in shares of BOK Financial by 14.7% during the fourth quarter. Forum Financial Management LP now owns 2,362 shares of the bank's stock worth $251,000 after purchasing an additional 302 shares in the last quarter. 34.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BOKF shares. Citigroup upped their target price on shares of BOK Financial from $97.00 to $100.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. DA Davidson upped their target price on shares of BOK Financial from $114.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Wall Street Zen lowered shares of BOK Financial from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Keefe, Bruyette & Woods boosted their price target on shares of BOK Financial from $101.00 to $115.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. Finally, Hovde Group boosted their price target on shares of BOK Financial from $110.00 to $123.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Three research 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, BOK Financial has an average rating of "Hold" and an average price target of $113.83.

BOK Financial Stock Up 0.4%

Shares of BOKF stock traded up $0.49 during trading hours on Thursday, hitting $112.55. 61,096 shares of the company were exchanged, compared to its average volume of 192,098. The company has a market capitalization of $7.16 billion, a PE ratio of 13.49 and a beta of 0.91. BOK Financial Corporation has a 52 week low of $85.07 and a 52 week high of $121.58. The business has a 50 day moving average of $104.56 and a two-hundred day moving average of $99.86. 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 released its earnings results on Monday, July 21st. The bank reported $2.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.98 by $0.21. The business had revenue of $525.50 million during the quarter, compared to the consensus estimate of $521.80 million. BOK Financial had a net margin of 15.80% and a return on equity of 9.39%. During the same quarter last year, the firm earned $2.54 earnings per share. Analysts anticipate that BOK Financial Corporation will post 8.83 earnings per share for the current fiscal year.

BOK Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Wednesday, August 13th. BOK Financial's dividend payout ratio (DPR) 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.