Merit Financial Group LLC Acquires Shares of 2,407 BOK Financial Co. (NASDAQ:BOKF)

Merit Financial Group LLC acquired a new stake in shares of BOK Financial Co. (NASDAQ:BOKF) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 2,407 shares of the bank’s stock, valued at approximately $256,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in BOKF. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of BOK Financial in the second quarter valued at about $39,000. KBC Group NV grew its position in BOK Financial by 25.3% in the 3rd quarter. KBC Group NV now owns 905 shares of the bank’s stock worth $95,000 after purchasing an additional 183 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of BOK Financial during the 3rd quarter worth approximately $142,000. Point72 DIFC Ltd purchased a new position in shares of BOK Financial in the 2nd quarter worth approximately $143,000. Finally, CWM LLC boosted its stake in shares of BOK Financial by 211.8% in the 3rd quarter. CWM LLC now owns 1,456 shares of the bank’s stock worth $152,000 after buying an additional 989 shares during the last quarter. 34.44% of the stock is owned by institutional investors.

BOK Financial Stock Performance

Shares of BOKF stock opened at $109.91 on Friday. The firm’s 50 day moving average is $112.82 and its 200 day moving average is $107.36. The stock has a market capitalization of $7.05 billion, a P/E ratio of 13.52 and a beta of 1.20. BOK Financial Co. has a 12 month low of $78.99 and a 12 month high of $121.58. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.87.

BOK Financial (NASDAQ:BOKF) last posted its earnings results on Friday, January 17th. The bank reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.15. BOK Financial had a return on equity of 9.96% and a net margin of 15.32%. On average, sell-side analysts anticipate that BOK Financial Co. will post 8.52 earnings per share for the current year.

BOK Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were paid a $0.57 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.28 annualized dividend and a yield of 2.07%. This is an increase from BOK Financial’s previous quarterly dividend of $0.55. BOK Financial’s dividend payout ratio (DPR) is currently 28.04%.

Insider Buying and Selling at BOK Financial

In other BOK Financial news, Director Steven Bangert sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were 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 of the company’s stock, valued at $5,268,061.47. This trade represents a 4.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 56.94% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Stephens dropped their price target on BOK Financial from $135.00 to $127.00 and set an “equal weight” rating on the stock in a report on Wednesday. Wedbush reiterated a “neutral” rating and set a $115.00 target price on shares of BOK Financial in a research note on Tuesday, October 22nd. DA Davidson reduced their price target on shares of BOK Financial from $124.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. StockNews.com raised shares of BOK Financial from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Royal Bank of Canada increased their target price on shares of BOK Financial from $115.00 to $120.00 and gave the company a “sector perform” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, BOK Financial has an average rating of “Hold” and a consensus target price of $116.40.

BOK Financial Profile

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.