Insider Selling: BOK Financial Corp. (BOKF) Director Sells $121,021.28 in Stock
BOK Financial Corp. (NASDAQ:BOKF) Director C Fred Ball, Jr. sold 1,712 shares of the firm’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $70.69, for a total value of $121,021.28. Following the completion of the transaction, the director now directly owns 3,467 shares in the company, valued at $245,082.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
BOK Financial Corp. (NASDAQ:BOKF) opened at 74.10 on Thursday. The company has a 50-day moving average price of $69.76 and a 200-day moving average price of $65.19. BOK Financial Corp. has a 1-year low of $44.13 and a 1-year high of $74.79. The firm has a market capitalization of $4.88 billion, a P/E ratio of 20.31 and a beta of 0.82.
BOK Financial Corp. (NASDAQ:BOKF) last released its quarterly earnings data on Wednesday, October 26th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.03. BOK Financial Corp. had a net margin of 16.03% and a return on equity of 7.20%. During the same period last year, the firm posted $1.15 earnings per share. On average, equities research analysts predict that BOK Financial Corp. will post $3.82 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 28th. Investors of record on Monday, November 14th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Wednesday, November 9th. This is a positive change from BOK Financial Corp.’s previous quarterly dividend of $0.43. BOK Financial Corp.’s payout ratio is presently 46.99%.
Several research firms have commented on BOKF. Royal Bank Of Canada raised their price objective on BOK Financial Corp. from $68.00 to $74.00 and gave the company a “sector perform” rating in a research report on Thursday, October 27th. Raymond James Financial Inc. restated a “market perform” rating on shares of BOK Financial Corp. in a research note on Thursday, July 28th. RBC Capital Markets restated a “sector perform” rating and set a $74.00 target price (up from $68.00) on shares of BOK Financial Corp. in a research note on Thursday, October 27th. SunTrust Banks Inc. downgraded BOK Financial Corp. from a “buy” rating to a “neutral” rating and lowered their target price for the company from $80.00 to $62.00 in a research note on Thursday, August 25th. Finally, Wedbush began coverage on BOK Financial Corp. in a research note on Thursday, October 6th. They set a “neutral” rating and a $68.00 target price for the company. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $67.25.
Several large investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. raised its stake in BOK Financial Corp. by 21.8% in the first quarter. Prudential Financial Inc. now owns 36,823 shares of the company’s stock valued at $2,011,000 after buying an additional 6,600 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in BOK Financial Corp. by 1.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 625,343 shares of the company’s stock worth $34,156,000 after buying an additional 8,868 shares in the last quarter. BlackRock Group LTD raised its position in BOK Financial Corp. by 24.1% in the first quarter. BlackRock Group LTD now owns 15,772 shares of the company’s stock worth $861,000 after buying an additional 3,068 shares in the last quarter. BlackRock Inc. raised its position in BOK Financial Corp. by 3,081.0% in the first quarter. BlackRock Inc. now owns 3,849 shares of the company’s stock worth $211,000 after buying an additional 3,728 shares in the last quarter. Finally, FirstMerit Bank N A Trustee raised its position in BOK Financial Corp. by 20.6% in the second quarter. FirstMerit Bank N A Trustee now owns 5,359 shares of the company’s stock worth $336,000 after buying an additional 917 shares in the last quarter. 36.64% of the stock is owned by institutional investors and hedge funds.
About BOK Financial Corp.
BOK Financial Corporation is a financial holding company. The Company offers full service banking in Oklahoma, Texas, New Mexico, Colorado, Arizona and Kansas/Missouri. Its segments include Commercial Banking, Consumer Banking, Wealth Management, and Funds Management and Other. The Commercial Banking segment includes lending, treasury and cash management services, and customer risk management products for small businesses, middle market and commercial customers.
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