Sprucegrove Investment Management Ltd. Acquires Shares of 1,300 BOK Financial Corporation $BOKF

Sprucegrove Investment Management Ltd. acquired a new stake in BOK Financial Corporation (NASDAQ:BOKF) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 1,300 shares of the bank’s stock, valued at approximately $127,000.

Several other large investors have also recently modified their holdings of the stock. New York State Teachers Retirement System purchased a new stake in BOK Financial during the 1st quarter valued at $218,000. Envestnet Asset Management Inc. raised its stake in shares of BOK Financial by 27.5% in the first quarter. Envestnet Asset Management Inc. now owns 24,354 shares of the bank’s stock valued at $2,536,000 after acquiring an additional 5,249 shares during the period. CWM LLC lifted its holdings in shares of BOK Financial by 22.5% in the 1st quarter. CWM LLC now owns 7,447 shares of the bank’s stock worth $776,000 after acquiring an additional 1,369 shares during the last quarter. Edgestream Partners L.P. lifted its holdings in shares of BOK Financial by 229.0% in the 1st quarter. Edgestream Partners L.P. now owns 46,521 shares of the bank’s stock worth $4,845,000 after acquiring an additional 32,380 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of BOK Financial by 31.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,314 shares of the bank’s stock worth $658,000 after purchasing an additional 1,508 shares during the period. Institutional investors own 34.44% of the company’s stock.

Wall Street Analyst Weigh In

BOKF has been the topic of a number of recent analyst reports. Hovde Group increased their price objective on shares of BOK Financial from $110.00 to $123.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 22nd. Credit Suisse Group set a $116.00 price target on BOK Financial in a report on Wednesday, October 22nd. Barclays upgraded BOK Financial to a “hold” rating in a report on Wednesday, October 8th. Jefferies Financial Group set a $135.00 target price on BOK Financial and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, DA Davidson lifted their target price on BOK Financial from $120.00 to $122.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Four analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $115.55.

Insider Buying and Selling at BOK Financial

In related news, Director Steven Bangert sold 1,000 shares of the firm’s stock in a transaction dated Thursday, October 30th. The stock was sold at an average price of $106.07, for a total transaction of $106,070.00. Following the sale, the director owned 12,236 shares of the company’s stock, valued at $1,297,872.52. This trade represents a 7.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 60.14% of the stock is owned by company insiders.

BOK Financial Stock Performance

BOKF stock opened at $107.10 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.78 and a quick ratio of 0.77. BOK Financial Corporation has a 1-year low of $85.07 and a 1-year high of $121.58. The business has a 50-day moving average price of $110.12 and a 200 day moving average price of $102.82. The company has a market capitalization of $6.77 billion, a P/E ratio of 12.77 and a beta of 0.93.

BOK Financial (NASDAQ:BOKF) last announced its quarterly earnings results on Monday, September 8th. The bank reported $2.02 earnings per share for the quarter. The firm had revenue of $298.49 million during the quarter. BOK Financial had a net margin of 15.98% and a return on equity of 9.35%. As a group, equities research analysts forecast that BOK Financial Corporation will post 8.83 EPS for the current fiscal year.

BOK Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from BOK Financial’s previous quarterly dividend of $0.57. BOK Financial’s dividend payout ratio is presently 30.04%.

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.