BOK Financial Co. (NASDAQ:BOKF) Sees Large Drop in Short Interest

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BOK Financial Co. (NASDAQ:BOKF) was the target of a large decline in short interest in May. As of May 15th, there was short interest totalling 861,600 shares, a decline of 8.3% from the April 15th total of 940,000 shares. Based on an average daily volume of 155,700 shares, the days-to-cover ratio is currently 5.5 days. Approximately 2.7% of the company’s stock are short sold.

BOKF traded down $0.31 during mid-day trading on Wednesday, reaching $75.23. 183,500 shares of the stock were exchanged, compared to its average volume of 175,341. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.96 and a quick ratio of 0.95. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 1.57 and a beta of 1.30. BOK Financial has a 1 year low of $69.96 and a 1 year high of $105.21.

BOK Financial (NASDAQ:BOKF) last posted its quarterly earnings data on Wednesday, April 24th. The bank reported $1.67 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.71 by ($0.04). The firm had revenue of $435.37 million for the quarter, compared to analysts’ expectations of $446.13 million. BOK Financial had a return on equity of 11.64% and a net margin of 23.03%. During the same period in the prior year, the firm earned $1.61 earnings per share. As a group, equities analysts anticipate that BOK Financial will post 7.25 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Monday, May 13th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.66%. This is an increase from BOK Financial’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, May 10th. BOK Financial’s payout ratio is currently 29.50%.

In other BOK Financial news, Director Steven Bangert sold 10,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $86.84, for a total transaction of $868,400.00. Following the completion of the sale, the director now owns 147,841 shares in the company, valued at approximately $12,838,512.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 54.90% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of Montreal Can boosted its holdings in BOK Financial by 6.6% during the 4th quarter. Bank of Montreal Can now owns 2,037 shares of the bank’s stock valued at $150,000 after acquiring an additional 127 shares during the period. Rhumbline Advisers increased its position in BOK Financial by 22.4% during the 4th quarter. Rhumbline Advisers now owns 35,679 shares of the bank’s stock valued at $2,616,000 after buying an additional 6,519 shares in the last quarter. SG Americas Securities LLC increased its position in BOK Financial by 204.7% during the 4th quarter. SG Americas Securities LLC now owns 4,571 shares of the bank’s stock valued at $335,000 after buying an additional 3,071 shares in the last quarter. Comerica Bank acquired a new position in BOK Financial during the 4th quarter valued at about $575,000. Finally, Virginia Retirement Systems ET AL increased its holdings in shares of BOK Financial by 30.1% in the fourth quarter. Virginia Retirement Systems ET AL now owns 9,500 shares of the bank’s stock valued at $697,000 after purchasing an additional 2,200 shares during the period. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have commented on the stock. Zacks Investment Research lowered shares of BOK Financial from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. BidaskClub upgraded shares of BOK Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. ValuEngine upgraded shares of BOK Financial from a “sell” rating to a “hold” rating in a research note on Saturday, February 23rd. Finally, Stephens reaffirmed a “buy” rating and set a $100.00 price objective on shares of BOK Financial in a report on Monday, April 29th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $101.55.

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About BOK Financial

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.

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