Diamond Hill Capital Management Inc. Sells 9,719 Shares of BOK Financial Corporation (NASDAQ:BOKF)

Key Points

• Diamond Hill Capital Management Inc. reduced its stake in BOK Financial Corporation by 21.1%, selling 9,719 shares and now owning approximately 36,273 shares valued at $3.78 million.
• BOK Financial's recent stock performance showed a price of $105.33, with a 52-week range between $85.07 and $121.58, and a market capitalization of $6.77 billion.
• Analysts have mixed ratings on BOK Financial, with a consensus rating of "Hold" and a consensus price target of $111.75 following several adjustments from various financial firms.

Diamond Hill Capital Management Inc. lessened its stake in shares of BOK Financial Corporation (NASDAQ:BOKF - Free Report) by 21.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,273 shares of the bank's stock after selling 9,719 shares during the quarter. Diamond Hill Capital Management Inc. owned about 0.06% of BOK Financial worth $3,778,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. True Wealth Design LLC boosted its stake in BOK Financial by 66.9% in the fourth quarter. True Wealth Design LLC now owns 282 shares of the bank's stock valued at $30,000 after acquiring an additional 113 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in shares of BOK Financial by 7.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,283 shares of the bank's stock valued at $349,000 after buying an additional 218 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of BOK Financial by 5.9% in the fourth quarter. Stifel Financial Corp now owns 4,643 shares of the bank's stock valued at $494,000 after buying an additional 258 shares in the last quarter. Forum Financial Management LP raised its stake in BOK Financial by 14.7% during the 4th quarter. Forum Financial Management LP now owns 2,362 shares of the bank's stock valued at $251,000 after purchasing an additional 302 shares during the period. Finally, Parallel Advisors LLC raised its stake in BOK Financial by 6.2% during the 1st quarter. Parallel Advisors LLC now owns 6,795 shares of the bank's stock valued at $708,000 after purchasing an additional 396 shares during the period. Hedge funds and other institutional investors own 34.44% of the company's stock.

BOK Financial Stock Performance

Shares of BOKF traded down $0.84 during mid-day trading on Friday, hitting $105.33. The stock had a trading volume of 277,460 shares, compared to its average volume of 264,783. The business has a fifty day moving average price of $98.18 and a 200-day moving average price of $100.75. BOK Financial Corporation has a 52 week low of $85.07 and a 52 week high of $121.58. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $6.77 billion, a P/E ratio of 12.61 and a beta of 0.86.

BOK Financial (NASDAQ:BOKF - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The bank reported $2.19 EPS 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 net margin of 15.80% and a return on equity of 9.49%. During the same quarter in the previous year, the company earned $2.54 earnings per share. On average, equities research analysts expect that BOK Financial Corporation will post 8.83 EPS for the current year.

BOK Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Thursday, May 15th were issued a $0.57 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.28 annualized dividend and a yield of 2.16%. BOK Financial's dividend payout ratio (DPR) is presently 27.31%.

Analysts Set New Price Targets

BOKF has been the subject of a number of recent research reports. DA Davidson upped their price objective on shares of BOK Financial from $114.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday. Hovde Group increased their price target on shares of BOK Financial from $110.00 to $123.00 and gave the stock an "outperform" rating in a research report on Tuesday. Raymond James Financial set a $105.00 price objective on shares of BOK Financial in a report on Tuesday, April 22nd. Stephens reduced their price objective on shares of BOK Financial from $124.00 to $110.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 23rd. Finally, Royal Bank Of Canada raised their price objective on shares of BOK Financial from $104.00 to $110.00 and gave the stock a "sector perform" rating in a report on Wednesday. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $111.75.

BOK Financial 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.