MQS Management LLC Makes New Investment in BOK Financial Co. (NASDAQ:BOKF)

MQS Management LLC purchased a new position in BOK Financial Co. (NASDAQ:BOKF) in the third quarter, HoldingsChannel.com reports. The firm purchased 2,006 shares of the bank’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in BOK Financial by 6.1% in 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 period. Allspring Global Investments Holdings LLC raised its position in shares of BOK Financial by 4,370,260.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 218,518 shares of the bank’s stock valued at $20,025,000 after purchasing an additional 218,513 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of BOK Financial by 11.7% in 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 purchasing an additional 13,175 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of BOK Financial by 23.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 39,174 shares of the bank’s stock valued at $3,604,000 after purchasing an additional 7,412 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in shares of BOK Financial by 71.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 37,532 shares of the bank’s stock valued at $3,168,000 after purchasing an additional 15,626 shares in the last quarter. Hedge funds and other institutional investors own 34.44% of the company’s stock.

Insiders Place Their Bets

In other BOK Financial news, Director Steven Bangert sold 2,000 shares of the stock in a transaction 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 56.94% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BOKF. StockNews.com raised BOK Financial from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Truist Financial raised BOK Financial from a “hold” rating to a “buy” rating and upped their target price for the company from $112.00 to $123.00 in a research report on Friday, September 20th. Wells Fargo & Company upped their target price on BOK Financial from $102.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Wedbush reissued a “neutral” rating and set a $115.00 price target on shares of BOK Financial in a research report on Tuesday, October 22nd. Finally, DA Davidson dropped their price target on BOK Financial from $124.00 to $123.00 and set a “buy” rating on the stock 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. According to data from MarketBeat.com, BOK Financial currently has an average rating of “Hold” and a consensus price target of $112.20.

BOK Financial Price Performance

Shares of NASDAQ BOKF opened at $114.66 on Friday. BOK Financial Co. has a 1-year low of $69.76 and a 1-year high of $119.52. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.79 and a quick ratio of 0.79. The business’s fifty day moving average price is $107.38 and its two-hundred day moving average price is $99.62. The firm has a market capitalization of $7.35 billion, a PE ratio of 15.77 and a beta of 1.17.

BOK Financial (NASDAQ:BOKF) last issued its 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. BOK Financial had a return on equity of 9.67% and a net margin of 13.78%. The firm had revenue of $888.50 million for the quarter, compared to analyst estimates of $509.43 million. During the same period last year, the company earned $2.04 earnings per share. On average, research analysts expect that BOK Financial Co. will post 8.07 EPS for the current year.

BOK Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be given a $0.57 dividend. The ex-dividend date of this dividend is Friday, November 15th. 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 1.99%. BOK Financial’s dividend payout ratio (DPR) is currently 30.26%.

BOK Financial Company 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.