Jefferies Financial Group Inc. Sells 20,500 Shares of BOK Financial Corporation (NASDAQ:BOKF)

Key Points

• Jefferies Financial Group Inc. reduced its stake in BOK Financial Corporation by 56.0%, holding 16,100 shares worth $1.68 million after selling 20,500 shares in the first quarter.
• Analysts have set a consensus target price of $112.58 for BOK Financial, with most ratings being "hold," while earnings per share (EPS) for the last quarter exceeded expectations at $2.19.
• BOK Financial announced a quarterly dividend of $0.57 per share, representing a 2.3% yield and a payout ratio of 27.31%.

Jefferies Financial Group Inc. reduced its position in BOK Financial Corporation (NASDAQ:BOKF - Free Report) by 56.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,100 shares of the bank's stock after selling 20,500 shares during the period. Jefferies Financial Group Inc.'s holdings in BOK Financial were worth $1,677,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in BOK Financial by 4.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,372,203 shares of the bank's stock valued at $252,526,000 after purchasing an additional 98,588 shares during the last quarter. AQR Capital Management LLC boosted its position in BOK Financial by 80.0% during the fourth quarter. AQR Capital Management LLC now owns 414,548 shares of the bank's stock worth $44,129,000 after acquiring an additional 184,261 shares during the last quarter. Geode Capital Management LLC raised its stake in BOK Financial by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 410,570 shares of the bank's stock worth $43,718,000 after purchasing an additional 5,028 shares during the period. Millennium Management LLC increased its stake in BOK Financial by 29.4% during the 4th quarter. Millennium Management LLC now owns 252,779 shares of the bank's stock worth $26,908,000 after buying an additional 57,420 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in BOK Financial by 8.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 236,832 shares of the bank's stock worth $24,415,000 after acquiring an additional 18,355 shares in the last quarter. 34.44% of the stock is currently owned by institutional investors.

BOK Financial Price Performance

Shares of NASDAQ BOKF traded down $0.78 during midday trading on Thursday, hitting $100.33. The stock had a trading volume of 115,443 shares, compared to its average volume of 195,145. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.70. The stock has a 50 day simple moving average of $99.37 and a 200-day simple moving average of $100.36. The company has a market capitalization of $6.38 billion, a PE ratio of 12.02 and a beta of 0.88. BOK Financial Corporation has a 1 year low of $85.07 and a 1 year high of $121.58.

BOK Financial (NASDAQ:BOKF - Get Free Report) last released its earnings results on Monday, July 21st. The bank reported $2.19 EPS for the quarter, topping analysts' consensus estimates of $1.98 by $0.21. BOK Financial had a net margin of 15.80% and a return on equity of 9.39%. The firm had revenue of $525.50 million during the quarter, compared to analyst estimates of $521.80 million. During the same quarter in the previous year, the business earned $2.54 EPS. On average, sell-side analysts expect that BOK Financial Corporation will post 8.83 EPS for the current fiscal year.

BOK Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be paid a $0.57 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $2.28 dividend on an annualized basis and a yield of 2.3%. BOK Financial's payout ratio is currently 27.31%.

Wall Street Analyst Weigh In

BOKF has been the subject of a number of analyst reports. Jefferies Financial Group initiated coverage on shares of BOK Financial in a research note on Wednesday, May 21st. They issued a "hold" rating and a $105.00 price objective for the company. Royal Bank Of Canada upped their price objective on shares of BOK Financial from $104.00 to $110.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 23rd. Stephens reduced their price target on shares of BOK Financial from $124.00 to $110.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods upped their price target on BOK Financial from $101.00 to $115.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Finally, Barclays lifted their price target on shares of BOK Financial from $110.00 to $115.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $112.58.

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.