First Trust Advisors LP Has $42.57 Million Position in BOK Financial Corporation $BOKF

Key Points

• First Trust Advisors reduced its BOK Financial stake by 24.7% in the first quarter, selling 109,042 shares and retaining 332,449 shares worth approximately $42.6 million. Institutional investors and hedge funds collectively own 34.44% of the company.
• BOK Financial reported quarterly EPS of $2.59, below the $2.68 consensus estimate, while revenue reached $589.4 million, exceeding expectations and rising 5.4% year over year.
• The company pays a quarterly dividend of $0.63 per share, equivalent to an annualized $2.52 and a 1.8% yield. Analysts maintain an overall “Hold” rating, with an average price target of $139.

First Trust Advisors LP cut its stake in shares of BOK Financial Corporation (NASDAQ:BOKF - Free Report) by 24.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 332,449 shares of the bank's stock after selling 109,042 shares during the quarter. First Trust Advisors LP owned approximately 0.55% of BOK Financial worth $42,573,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Isthmus Partners LLC bought a new position in shares of BOK Financial in the fourth quarter valued at about $1,775,000. M&T Bank Corp grew its holdings in BOK Financial by 1,397.2% during the 4th quarter. M&T Bank Corp now owns 30,767 shares of the bank's stock worth $3,645,000 after acquiring an additional 28,712 shares during the last quarter. SG Americas Securities LLC increased its position in BOK Financial by 352.3% in the 1st quarter. SG Americas Securities LLC now owns 24,026 shares of the bank's stock valued at $3,077,000 after acquiring an additional 18,714 shares in the last quarter. Norges Bank acquired a new stake in BOK Financial in the 4th quarter valued at about $32,755,000. Finally, Ritholtz Wealth Management acquired a new stake in BOK Financial in the 4th quarter valued at about $957,000. Institutional investors and hedge funds own 34.44% of the company's stock.

BOK Financial Price Performance

BOKF opened at $141.13 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. BOK Financial Corporation has a 12 month low of $97.40 and a 12 month high of $143.65. The company has a fifty day simple moving average of $134.75 and a 200 day simple moving average of $131.80. The stock has a market cap of $8.58 billion, a P/E ratio of 13.30 and a beta of 0.80.

BOK Financial (NASDAQ:BOKF - Get Free Report) last announced its quarterly earnings results on Monday, July 20th. The bank reported $2.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.09). The business had revenue of $589.40 million during the quarter, compared to the consensus estimate of $568.08 million. BOK Financial had a return on equity of 10.13% and a net margin of 18.97%.The firm's revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.19 earnings per share. On average, research analysts expect that BOK Financial Corporation will post 10.32 EPS for the current year.

BOK Financial Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $2.52 dividend on an annualized basis and a yield of 1.8%. BOK Financial's dividend payout ratio is 23.75%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BOKF. Royal Bank Of Canada raised their price target on BOK Financial from $147.00 to $149.00 and gave the company a "sector perform" rating in a report on Wednesday, July 22nd. Raymond James Financial cut BOK Financial from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 1st. Zacks Research downgraded shares of BOK Financial from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. DA Davidson reaffirmed a "neutral" rating and issued a $150.00 target price on shares of BOK Financial in a research note on Tuesday, July 21st. Finally, Citigroup reiterated a "neutral" rating on shares of BOK Financial in a research report on Thursday. Two equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $139.00.

Insider Buying and Selling

In other news, Director Steven Bangert sold 2,100 shares of the firm's stock in a transaction that occurred on 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 directly owned 32,816 shares of the company's stock, valued at $4,422,940.48. This trade represents a 6.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 approximately $2,700,275.82. This represents a 7.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 4,300 shares of company stock valued at $575,947. Insiders own 63.53% of the company's stock.

BOK Financial 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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