Russell Investments Group Ltd. decreased its position in BOK Financial Co. (NASDAQ:BOKF) by 18.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,396 shares of the bank’s stock after selling 1,461 shares during the quarter. Russell Investments Group Ltd.’s holdings in BOK Financial were worth $553,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Geneos Wealth Management Inc. acquired a new position in BOK Financial in the 1st quarter valued at about $32,000. Marshall Wace North America L.P. acquired a new position in shares of BOK Financial during the 1st quarter valued at about $50,000. First Horizon Advisors Inc. increased its stake in shares of BOK Financial by 38.0% during the 1st quarter. First Horizon Advisors Inc. now owns 727 shares of the bank’s stock valued at $65,000 after acquiring an additional 200 shares during the last quarter. Sowell Financial Services LLC increased its stake in shares of BOK Financial by 33.7% during the 1st quarter. Sowell Financial Services LLC now owns 2,383 shares of the bank’s stock valued at $216,000 after acquiring an additional 601 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new position in shares of BOK Financial during the 1st quarter valued at about $227,000. 39.44% of the stock is owned by hedge funds and other institutional investors.
BOKF has been the subject of a number of analyst reports. Morgan Stanley upped their price target on BOK Financial from $100.00 to $102.00 and gave the stock an “equal weight” rating in a report on Monday, August 2nd. Hovde Group decreased their price target on BOK Financial from $99.00 to $93.00 and set a “market perform” rating for the company in a report on Thursday, July 22nd. TheStreet cut BOK Financial from a “b” rating to a “c+” rating in a report on Friday, August 13th. Finally, Stephens decreased their price target on BOK Financial from $89.00 to $87.00 and set an “equal weight” rating for the company in a report on Thursday, July 22nd. Six investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $85.63.
BOK Financial (NASDAQ:BOKF) last posted its quarterly earnings results on Tuesday, July 20th. The bank reported $2.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.82 by $0.58. The business had revenue of $471.76 million for the quarter, compared to analyst estimates of $445.53 million. BOK Financial had a return on equity of 11.75% and a net margin of 31.13%. During the same period in the prior year, the company posted $0.92 EPS. As a group, equities analysts predict that BOK Financial Co. will post 7.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 26th. Investors of record on Monday, August 16th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend was Friday, August 13th. BOK Financial’s dividend payout ratio is currently 33.60%.
In other BOK Financial news, CEO Steven G. Bradshaw sold 10,000 shares of the stock in a transaction on Thursday, August 5th. The stock was sold at an average price of $85.62, for a total value of $856,200.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Steven Bangert sold 8,450 shares of the stock in a transaction on Friday, August 27th. The stock was sold at an average price of $88.80, for a total value of $750,360.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,450 shares of company stock worth $2,871,960. Corporate insiders own 56.40% of the company’s stock.
BOK Financial Profile
BOK Financial Corp. is a holding company, which engages in the provision of financial solutions. It operates through the following segments: Commercial Banking, Consumer Banking, Wealth Management, and Funds Management. The Commercial Banking segment includes lending, treasury, and cash management services, as well as customers risk management products for small businesses, middle market, and larger commercial customers.
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