CIBC Asset Management Inc Takes Position in BOK Financial Co. (NASDAQ:BOKF)

CIBC Asset Management Inc acquired a new position in shares of BOK Financial Co. (NASDAQ:BOKF) in the third quarter, HoldingsChannel reports. The fund acquired 1,934 shares of the bank’s stock, valued at approximately $202,000.

Other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its position in shares of BOK Financial by 4,370,260.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 218,518 shares of the bank’s stock worth $20,025,000 after buying an additional 218,513 shares during the period. Dimensional Fund Advisors LP boosted its stake in BOK Financial by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,176,031 shares of the bank’s stock worth $199,405,000 after acquiring an additional 125,950 shares during the last quarter. Edgestream Partners L.P. acquired a new position in BOK Financial during the second quarter valued at approximately $3,429,000. Sei Investments Co. increased its stake in BOK Financial by 304.9% in the second quarter. Sei Investments Co. now owns 20,602 shares of the bank’s stock valued at $1,888,000 after purchasing an additional 15,514 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in BOK Financial by 11.7% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 126,228 shares of the bank’s stock worth $11,567,000 after purchasing an additional 13,175 shares during the period. 34.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BOKF has been the subject of several research analyst reports. Wells Fargo & Company boosted their price target on shares of BOK Financial from $102.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, October 28th. DA Davidson decreased their target price on BOK Financial from $124.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Royal Bank of Canada increased their price target on BOK Financial from $111.00 to $113.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Wedbush reiterated a “neutral” rating and set a $115.00 price objective on shares of BOK Financial in a report on Tuesday, October 22nd. Finally, Stephens decreased their price objective on BOK Financial from $116.00 to $114.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $112.20.

BOK Financial Stock Up 1.6 %

BOKF stock opened at $117.53 on Friday. The business has a 50-day moving average of $108.72 and a 200-day moving average of $100.52. BOK Financial Co. has a fifty-two week low of $69.76 and a fifty-two week high of $119.52. The stock has a market capitalization of $7.54 billion, a P/E ratio of 16.17 and a beta of 1.17. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.79 and a quick ratio of 0.79.

BOK Financial (NASDAQ:BOKF) last issued its quarterly earnings results on Monday, October 21st. The bank reported $2.18 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.20. The company had revenue of $888.50 million during the quarter, compared to analysts’ expectations of $509.43 million. BOK Financial had a net margin of 13.78% and a return on equity of 9.67%. During the same period last year, the business earned $2.04 EPS. On average, sell-side analysts anticipate that BOK Financial Co. will post 8.08 earnings per share for the current fiscal year.

BOK Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be paid a $0.57 dividend. This is a positive change from BOK Financial’s previous quarterly dividend of $0.55. This represents a $2.28 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Friday, November 15th. BOK Financial’s payout ratio is presently 31.36%.

Insiders Place Their Bets

In other BOK Financial news, Director Steven Bangert sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $117.83, for a total value of $235,660.00. Following the completion of the transaction, the director now directly owns 44,709 shares in the company, valued at $5,268,061.47. This trade represents a 4.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 56.94% of the company’s stock.

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.