Stifel Financial Corp Reduces Position in BOK Financial Co. (NASDAQ:BOKF)

Stifel Financial Corp decreased its position in BOK Financial Co. (NASDAQ:BOKF) by 6.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,385 shares of the bank’s stock after selling 279 shares during the period. Stifel Financial Corp’s holdings in BOK Financial were worth $459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of BOK Financial by 24.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,198 shares of the bank’s stock worth $568,000 after purchasing an additional 1,228 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in BOK Financial by 11.7% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 126,228 shares of the bank’s stock valued at $11,567,000 after acquiring an additional 13,175 shares during the period. Maryland State Retirement & Pension System purchased a new stake in shares of BOK Financial in the 2nd quarter valued at $210,000. nVerses Capital LLC acquired a new stake in shares of BOK Financial in the second quarter worth $147,000. Finally, Elk River Wealth Management LLC raised its holdings in shares of BOK Financial by 14.3% during the second quarter. Elk River Wealth Management LLC now owns 9,142 shares of the bank’s stock worth $838,000 after purchasing an additional 1,144 shares during the last quarter. Institutional investors and hedge funds own 34.44% of the company’s stock.

Wall Street Analysts Forecast Growth

BOKF has been the topic of several analyst reports. Truist Financial raised BOK Financial from a “hold” rating to a “buy” rating and increased their price target for the stock from $112.00 to $123.00 in a research report on Friday, September 20th. DA Davidson decreased their price target on BOK Financial from $124.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Wells Fargo & Company raised their price objective on shares of BOK Financial from $105.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 3rd. Wedbush reiterated a “neutral” rating and issued a $115.00 target price on shares of BOK Financial in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada increased their price target on shares of BOK Financial from $111.00 to $113.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, BOK Financial presently has an average rating of “Hold” and a consensus price target of $114.40.

BOK Financial Stock Down 1.4 %

Shares of NASDAQ BOKF opened at $108.20 on Friday. BOK Financial Co. has a 52-week low of $77.86 and a 52-week high of $121.58. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.87. The company’s 50-day simple moving average is $113.37 and its 200-day simple moving average is $104.47. The firm has a market cap of $6.94 billion, a price-to-earnings ratio of 14.88 and a beta of 1.18.

BOK Financial (NASDAQ:BOKF) last released its earnings results on Monday, October 21st. The bank reported $2.18 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.20. BOK Financial had a return on equity of 9.67% and a net margin of 13.78%. The business 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 business posted $2.04 earnings per share. Equities analysts predict that BOK Financial Co. will post 8.08 EPS for the current fiscal year.

BOK Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were issued a dividend of $0.57 per share. This is a positive change from BOK Financial’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, November 15th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.11%. BOK Financial’s dividend payout ratio is presently 31.36%.

Insider Activity

In other news, Director Steven Bangert sold 2,000 shares of the company’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 sale, the director now directly owns 44,709 shares in the company, valued at $5,268,061.47. This 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 at this link. Company insiders own 56.94% of the company’s stock.

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.