Vanguard Group Inc. Lowers Stock Holdings in BOK Financial Corporation $BOKF

Key Points

• Vanguard Group trimmed its BOK Financial stake by 1.2% in the fourth quarter, though it still held 2.3 million shares worth about $272 million and remained one of the largest institutional owners.
• BOK Financial reported better-than-expected quarterly earnings of $2.58 per share versus the $2.30 estimate, with revenue also slightly ahead of forecasts; analysts now expect full-year EPS of 10.24.
• The company announced a quarterly dividend of $0.63 per share, implying an annualized payout of $2.52 and a yield of about 1.9%. Meanwhile, Wall Street's consensus rating remains Hold with a target price around $134.91.

Vanguard Group Inc. reduced its position in shares of BOK Financial Corporation (NASDAQ:BOKF - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,297,678 shares of the bank's stock after selling 28,484 shares during the period. Vanguard Group Inc. owned about 3.63% of BOK Financial worth $272,183,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Greenleaf Trust raised its stake in shares of BOK Financial by 2.4% in the third quarter. Greenleaf Trust now owns 4,214 shares of the bank's stock valued at $470,000 after acquiring an additional 98 shares in the last quarter. GAMMA Investing LLC raised its stake in BOK Financial by 8.4% in the fourth quarter. GAMMA Investing LLC now owns 1,572 shares of the bank's stock valued at $186,000 after buying an additional 122 shares in the last quarter. Versant Capital Management Inc raised its stake in BOK Financial by 92.5% in the third quarter. Versant Capital Management Inc now owns 256 shares of the bank's stock valued at $29,000 after buying an additional 123 shares in the last quarter. Farther Finance Advisors LLC raised its stake in BOK Financial by 173.1% in the fourth quarter. Farther Finance Advisors LLC now owns 213 shares of the bank's stock valued at $25,000 after buying an additional 135 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake in BOK Financial by 0.7% in the second quarter. California State Teachers Retirement System now owns 20,743 shares of the bank's stock valued at $2,025,000 after buying an additional 151 shares in the last quarter. 34.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Steven Bangert sold 500 shares of BOK Financial stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $134.91, for a total transaction of $67,455.00. Following the completion of the sale, the director directly owned 10,436 shares in the company, valued at approximately $1,407,920.76. This trade represents a 4.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey A. Reid sold 1,200 shares of BOK Financial stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $135.52, for a total transaction of $162,624.00. Following the sale, the executive vice president owned 8,116 shares of the company's stock, valued at approximately $1,099,880.32. The trade was a 12.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 3,800 shares of company stock valued at $513,117. Insiders own 63.53% of the company's stock.

BOK Financial Price Performance

Shares of BOKF opened at $132.47 on Friday. BOK Financial Corporation has a twelve month low of $91.35 and a twelve month high of $139.73. The stock's 50 day moving average is $130.01 and its two-hundred day moving average is $123.37. The firm has a market capitalization of $8.05 billion, a PE ratio of 13.41 and a beta of 0.83. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.53.

BOK Financial (NASDAQ:BOKF - Get Free Report) last announced its quarterly earnings data on Monday, April 20th. The bank reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates of $2.30 by $0.28. BOK Financial had a return on equity of 9.90% and a net margin of 18.05%.The company had revenue of $553.82 million for the quarter, compared to analyst estimates of $549.71 million. During the same quarter in the previous year, the company earned $1.86 EPS. Research analysts anticipate that BOK Financial Corporation will post 10.24 earnings per share for the current year.

BOK Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, May 13th. BOK Financial's payout ratio is currently 25.51%.

Wall Street Analyst Weigh In

BOKF has been the topic of a number of research analyst reports. Piper Sandler set a $135.00 target price on BOK Financial in a research report on Wednesday, January 21st. Wall Street Zen upgraded BOK Financial from a "sell" rating to a "hold" rating in a research report on Saturday, January 17th. DA Davidson lifted their target price on BOK Financial from $132.00 to $139.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 22nd. Keefe, Bruyette & Woods lifted their target price on BOK Financial from $116.00 to $135.00 and gave the stock a "market perform" rating in a research report on Wednesday, January 21st. Finally, Wells Fargo & Company lifted their target price on BOK Financial from $115.00 to $127.00 and gave the stock an "equal weight" rating in a research report on Monday, March 30th. Three analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $134.91.

BOK Financial Company 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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