Squarepoint Ops LLC Lowers Stock Holdings in BOK Financial Corporation $BOKF

Key Points

• Squarepoint Ops LLC cut its BOK Financial holdings by 26.6% in the second quarter, selling 22,729 shares and retaining 62,859 shares valued at approximately $8.73 million. Institutional investors collectively own 34.44% of the company.
• BOK Financial insiders sold 5,274 shares worth about $765,000 over the past 90 days, including sales by EVP Brad Vincent and Director Steven Bangert.
• The bank reported quarterly earnings of $2.59 per share, below the $2.68 estimate, while revenue rose 5.4% year over year to $589.4 million. It pays a quarterly dividend of $0.63 per share, and analysts maintain a consensus “Hold” rating with an average price target of $140.36.

Squarepoint Ops LLC cut its holdings in BOK Financial Corporation (NASDAQ:BOKF - Free Report) by 26.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 62,859 shares of the bank's stock after selling 22,729 shares during the period. Squarepoint Ops LLC owned 0.10% of BOK Financial worth $8,730,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in BOKF. Pinnacle Holdings LLC purchased a new stake in shares of BOK Financial in the fourth quarter valued at $31,000. Fifth Third Bancorp increased its stake in BOK Financial by 2,291.7% in the first quarter. Fifth Third Bancorp now owns 287 shares of the bank's stock valued at $37,000 after purchasing an additional 275 shares during the last quarter. Covestor Ltd lifted its position in BOK Financial by 108.0% during the fourth quarter. Covestor Ltd now owns 366 shares of the bank's stock worth $43,000 after buying an additional 190 shares during the period. Root Financial Partners LLC lifted its position in BOK Financial by 56.2% during the first quarter. Root Financial Partners LLC now owns 367 shares of the bank's stock worth $47,000 after buying an additional 132 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in BOK Financial by 109.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 500 shares of the bank's stock worth $49,000 after buying an additional 261 shares during the last quarter. Hedge funds and other institutional investors own 34.44% of the company's stock.

Insider Buying and Selling

In other news, EVP Brad A. Vincent sold 4,015 shares of the firm's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $145.42, for a total value of $583,861.30. Following the transaction, the executive vice president owned 6,031 shares of the company's stock, valued at approximately $877,028.02. This trade represents a 39.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven Bangert sold 1,250 shares of BOK Financial stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $143.96, for a total transaction of $179,950.00. Following the transaction, the director owned 31,710 shares in the company, valued at $4,564,971.60. The trade was a 3.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 5,274 shares of company stock worth $765,067. 63.53% of the stock is currently owned by corporate insiders.

BOK Financial Stock Performance

BOK Financial stock opened at $135.21 on Friday. The stock's 50-day moving average is $140.32 and its 200-day moving average is $134.04. The company has a market cap of $8.22 billion, a price-to-earnings ratio of 12.74 and a beta of 0.79. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.78 and a quick ratio of 0.78. BOK Financial Corporation has a 12 month low of $102.72 and a 12 month high of $146.84.

BOK Financial (NASDAQ:BOKF - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $589.40 million during the quarter, compared to analyst estimates of $568.08 million. BOK Financial had a net margin of 18.97% and a return on equity of 10.09%. The business's revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.19 earnings per share. Equities analysts anticipate that BOK Financial Corporation will post 10.32 earnings per share for the current year.

BOK Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, August 19th. BOK Financial's payout ratio is 23.75%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Benchmark began coverage on shares of BOK Financial in a research note on Wednesday, June 24th. They set a "hold" rating for the company. Weiss Ratings reissued a "buy (b)" rating on shares of BOK Financial in a research report on Friday, September 4th. Raymond James Financial cut shares of BOK Financial from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 1st. DA Davidson reaffirmed a "neutral" rating and set a $150.00 price target on shares of BOK Financial in a research report on Thursday, September 3rd. Finally, Citigroup reaffirmed a "neutral" rating on shares of BOK Financial in a research note on Thursday, July 23rd. Two equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $140.36.

About BOK Financial

BOK Financial Corporation NASDAQ: BOKF is a financial services holding company headquartered in Tulsa, Oklahoma. Through its principal banking subsidiary, BOKF, NA, the company provides banking, investment and wealth management services to businesses, institutions and individual customers.

The company operates regional banking brands including Bank of Oklahoma, Bank of Texas and Bank of Albuquerque. Its services include commercial and consumer banking, commercial real estate lending, treasury and cash management, mortgage lending and servicing, investment banking, securities brokerage, trust services and investment management.

BOK Financial primarily serves customers in Oklahoma, Texas, New Mexico, Colorado, Kansas, Missouri and Arkansas through banking offices and specialized financial services operations.

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