Hsbc Holdings PLC Takes Position in BOK Financial Corporation $BOKF

Key Points

• HSBC Holdings acquired 9,020 shares of BOK Financial in the first quarter, valued at approximately $1.16 million. Institutional investors currently own 34.44% of the company.
• Analysts remain cautious, with two Buy ratings and ten Holds; the consensus rating is Hold with an average price target of $139. Recent target increases from Barclays and RBC place their targets near $149–$150.
• BOK Financial reported quarterly revenue of $589.4 million, above estimates, though earnings per share of $2.59 missed expectations. The company declared a $0.63 quarterly dividend, representing a 1.8% yield.

Hsbc Holdings PLC bought a new stake in shares of BOK Financial Corporation (NASDAQ:BOKF - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,020 shares of the bank's stock, valued at approximately $1,155,000.

Other institutional investors have also added to or reduced their stakes in the company. Cowa LLC lifted its position in BOK Financial by 1.7% during the fourth quarter. Cowa LLC now owns 6,123 shares of the bank's stock valued at $725,000 after purchasing an additional 101 shares in the last quarter. Root Financial Partners LLC increased its holdings in BOK Financial by 56.2% in the 1st quarter. Root Financial Partners LLC now owns 367 shares of the bank's stock worth $47,000 after acquiring an additional 132 shares in the last quarter. Farther Finance Advisors LLC raised its stake in BOK Financial by 173.1% during the 4th quarter. Farther Finance Advisors LLC now owns 213 shares of the bank's stock worth $25,000 after acquiring an additional 135 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in BOK Financial by 2.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 6,717 shares of the bank's stock valued at $796,000 after purchasing an additional 151 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of BOK Financial by 0.7% in the second quarter. California State Teachers Retirement System now owns 20,743 shares of the bank's stock worth $2,025,000 after purchasing an additional 151 shares during the period. 34.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BOKF shares. Barclays lifted their target price on shares of BOK Financial from $145.00 to $150.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 22nd. Raymond James Financial downgraded BOK Financial from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 1st. Citigroup restated a "neutral" rating on shares of BOK Financial in a research note on Thursday, July 23rd. Royal Bank Of Canada lifted their price objective on shares of BOK Financial from $147.00 to $149.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 22nd. Finally, DA Davidson reaffirmed a "neutral" rating and set a $150.00 target price on shares of BOK Financial in a research note on Tuesday, July 21st. Two research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $139.00.

BOK Financial Stock Up 0.9%

Shares of BOKF opened at $142.44 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $8.65 billion, a price-to-earnings ratio of 13.43 and a beta of 0.80. BOK Financial Corporation has a 1 year low of $97.40 and a 1 year high of $143.65. The business's 50 day simple moving average is $135.06 and its 200-day simple moving average is $131.94.

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 for the quarter, missing the consensus estimate of $2.68 by ($0.09). BOK Financial had a return on equity of 10.13% and a net margin of 18.97%.The business had revenue of $589.40 million during the quarter, compared to the consensus estimate of $568.08 million. During the same quarter in the prior year, the firm posted $2.19 EPS. The company's revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities analysts expect that BOK Financial Corporation will post 10.32 earnings per share for the current fiscal year.

BOK Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were given a $0.63 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $2.52 annualized dividend and a yield of 1.8%. BOK Financial's dividend payout ratio (DPR) is currently 23.75%.

Insider Buying and Selling

In related news, Director Steven Bangert sold 500 shares of the company's stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $134.91, for a total transaction of $67,455.00. Following the transaction, the director directly owned 10,436 shares in the company, valued at approximately $1,407,920.76. This represents a 4.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark B. Wade sold 1,700 shares of BOK Financial stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $132.62, for a total transaction of $225,454.00. Following the sale, the executive vice president directly owned 20,361 shares of the company's stock, valued at $2,700,275.82. This represents a 7.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 4,309 shares of company stock worth $577,203. Company insiders own 63.53% of the company's stock.

About BOK Financial

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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