First Trust Advisors LP Sells 109,042 Shares of BOK Financial Corporation $BOKF

First Trust Advisors LP lowered its position in BOK Financial Corporation (NASDAQ:BOKF) by 24.7% in the first quarter, HoldingsChannel.com reports. The fund owned 332,449 shares of the bank’s stock after selling 109,042 shares during the quarter. First Trust Advisors LP’s holdings in BOK Financial were worth $42,573,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Cibc World Markets Corp bought a new stake in shares of BOK Financial in the 4th quarter valued at about $130,994,000. Freestone Grove Partners LP grew its holdings in BOK Financial by 407.0% during the third quarter. Freestone Grove Partners LP now owns 363,610 shares of the bank’s stock worth $40,521,000 after purchasing an additional 291,894 shares during the period. Norges Bank acquired a new position in BOK Financial during the fourth quarter worth approximately $32,755,000. Cibc World Market Inc. increased its position in BOK Financial by 39.0% during the fourth quarter. Cibc World Market Inc. now owns 908,800 shares of the bank’s stock worth $107,656,000 after buying an additional 254,800 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in BOK Financial by 193.7% in the second quarter. Qube Research & Technologies Ltd now owns 226,230 shares of the bank’s stock valued at $22,087,000 after buying an additional 149,201 shares during the period. Institutional investors own 34.44% of the company’s stock.

Insider Transactions at BOK Financial

In related news, Director Steven Bangert sold 500 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $134.91, for a total transaction of $67,455.00. Following the transaction, the director directly owned 10,436 shares of the company’s stock, valued at approximately $1,407,920.76. This trade represents a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark B. Wade sold 1,700 shares of BOK Financial stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $132.62, for a total transaction of $225,454.00. Following the completion of the sale, the executive vice president owned 20,361 shares of the company’s stock, valued at $2,700,275.82. This trade represents a 7.71% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 4,300 shares of company stock valued at $575,947. 63.53% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BOKF. DA Davidson reaffirmed a “neutral” rating and issued a $150.00 price objective on shares of BOK Financial in a research report on Tuesday, July 21st. Royal Bank Of Canada boosted their target price on BOK Financial from $147.00 to $149.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 22nd. Wells Fargo & Company raised their price target on BOK Financial from $130.00 to $138.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of BOK Financial in a research report on Tuesday, June 9th. Finally, Benchmark began coverage on shares of BOK Financial in a research report on Wednesday, June 24th. They set a “hold” rating for the company. Two analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $139.00.

BOK Financial Stock Performance

NASDAQ:BOKF opened at $141.13 on Tuesday. The stock has a market cap of $8.58 billion, a P/E ratio of 13.30 and a beta of 0.80. The stock has a 50 day simple moving average of $134.75 and a 200 day simple moving average of $131.80. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. BOK Financial Corporation has a 1-year low of $97.40 and a 1-year high of $143.65.

BOK Financial (NASDAQ:BOKF) last issued its quarterly earnings data on Monday, July 20th. The bank reported $2.59 EPS for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.09). BOK Financial had a net margin of 18.97% and a return on equity of 10.13%. The firm had revenue of $589.40 million during the quarter, compared to analyst estimates of $568.08 million. During the same period in the prior year, the company earned $2.19 earnings per share. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. Research analysts anticipate that BOK Financial Corporation will post 10.32 earnings per share for the current year.

BOK Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Wednesday, May 13th. BOK Financial’s payout ratio is presently 23.75%.

BOK Financial Company Profile

BOK Financial Corporation (NASDAQ: BOKF), headquartered in Tulsa, Oklahoma, is a diversified financial services holding company serving businesses, professionals and individuals across the central and western United States. Through its banking subsidiary, BOK Financial offers a full suite of commercial banking, treasury and payment management services, as well as consumer deposit and lending solutions. The company’s offerings also encompass wealth management, trust and asset management, investment banking, and insurance products designed to meet the needs of both retail and institutional clients.

The roots of BOK Financial date back to the founding of the Bank of Oklahoma in 1910.