Oppenheimer Asset Management Inc. Trims Holdings in BOK Financial Co. (NASDAQ:BOKF)

Oppenheimer Asset Management Inc. reduced its holdings in BOK Financial Co. (NASDAQ:BOKF) by 1.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 14,121 shares of the bank’s stock after selling 195 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in BOK Financial were worth $1,477,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its holdings in BOK Financial by 4,370,260.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 218,518 shares of the bank’s stock valued at $20,025,000 after acquiring an additional 218,513 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of BOK Financial by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,176,031 shares of the bank’s stock valued at $199,405,000 after purchasing an additional 125,950 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of BOK Financial during the second quarter valued at about $3,429,000. State Board of Administration of Florida Retirement System raised its stake in BOK Financial by 71.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 37,532 shares of the bank’s stock worth $3,168,000 after buying an additional 15,626 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in BOK Financial by 304.9% in the second quarter. Sei Investments Co. now owns 20,602 shares of the bank’s stock worth $1,888,000 after buying an additional 15,514 shares during the period. 34.44% of the stock is owned by hedge funds and other institutional investors.

BOK Financial Trading Up 0.0 %

Shares of NASDAQ:BOKF opened at $114.66 on Monday. BOK Financial Co. has a 1 year low of $69.76 and a 1 year high of $119.52. The stock’s fifty day moving average price is $107.38 and its 200-day moving average price is $99.76. The company has a market cap of $7.35 billion, a P/E ratio of 15.77 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 announced its quarterly earnings results on Monday, October 21st. The bank reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.20. BOK Financial had a net margin of 13.78% and a return on equity of 9.67%. The firm had revenue of $888.50 million for the quarter, compared to the consensus estimate of $509.43 million. During the same quarter last year, the firm posted $2.04 EPS. Sell-side analysts expect that BOK Financial Co. will post 8.07 earnings per share for the current year.

BOK Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.28 annualized dividend and a dividend yield of 1.99%. This is a positive change from BOK Financial’s previous quarterly dividend of $0.55. BOK Financial’s dividend payout ratio is presently 30.26%.

Insider Transactions at BOK Financial

In other news, Director Steven Bangert sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $117.83, for a total transaction of $235,660.00. Following the completion of the sale, the director now owns 44,709 shares of the company’s stock, valued at $5,268,061.47. The trade was a 4.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 56.94% of the company’s stock.

Wall Street Analysts Forecast Growth

BOKF has been the topic of several recent research reports. DA Davidson reduced their price target on BOK Financial from $124.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. StockNews.com upgraded shares of BOK Financial from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Hovde Group boosted their price objective on shares of BOK Financial from $106.00 to $122.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Stephens decreased their target price on shares of BOK Financial from $116.00 to $114.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their target price 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. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, BOK Financial presently has an average rating of “Hold” and an average price target of $112.20.

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.