Norges Bank Makes New $32.76 Million Investment in BOK Financial Corporation $BOKF

Norges Bank acquired a new position in BOK Financial Corporation (NASDAQ:BOKF) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 276,507 shares of the bank’s stock, valued at approximately $32,755,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings in BOK Financial by 2.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,629,362 shares of the bank’s stock worth $293,015,000 after purchasing an additional 59,241 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in BOK Financial in the third quarter worth about $123,231,000. First Trust Advisors LP grew its holdings in BOK Financial by 39.8% in the third quarter. First Trust Advisors LP now owns 527,601 shares of the bank’s stock worth $58,796,000 after purchasing an additional 150,210 shares during the period. Geode Capital Management LLC grew its holdings in BOK Financial by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 423,544 shares of the bank’s stock worth $50,184,000 after purchasing an additional 4,927 shares during the period. Finally, AQR Capital Management LLC grew its holdings in BOK Financial by 1.3% in the third quarter. AQR Capital Management LLC now owns 420,477 shares of the bank’s stock worth $46,808,000 after purchasing an additional 5,260 shares during the period. Hedge funds and other institutional investors own 34.44% of the company’s stock.

BOK Financial Trading Down 0.2%

NASDAQ:BOKF opened at $128.94 on Tuesday. 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 12 month low of $91.35 and a 12 month high of $139.73. The company has a market cap of $7.83 billion, a PE ratio of 13.05 and a beta of 0.81. The company has a 50 day simple moving average of $130.98 and a two-hundred day simple moving average of $126.80.

BOK Financial (NASDAQ:BOKF) last posted its earnings results on Monday, April 20th. The bank reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.28. BOK Financial had a net margin of 18.05% and a return on equity of 9.89%. The business had revenue of $553.82 million during the quarter, compared to the consensus estimate of $549.71 million. During the same quarter in the previous year, the firm posted $1.86 EPS. Research analysts forecast that BOK Financial Corporation will post 10.24 earnings per share for the current year.

BOK Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were given a $0.63 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $2.52 annualized dividend and a yield of 2.0%. BOK Financial’s dividend payout ratio (DPR) is presently 25.51%.

Insiders Place Their Bets

In other BOK Financial news, EVP Mark B. Wade sold 1,700 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $132.62, for a total value of $225,454.00. Following the transaction, the executive vice president directly owned 20,361 shares in the company, valued at approximately $2,700,275.82. This trade represents a 7.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven Bangert sold 2,100 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $134.78, for a total transaction of $283,038.00. Following the completion of the transaction, the director owned 32,816 shares in the company, valued at $4,422,940.48. The trade was a 6.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 5,500 shares of company stock worth $738,571. Company insiders own 63.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on BOKF shares. Wells Fargo & Company lifted their target price on shares of BOK Financial from $115.00 to $127.00 and gave the stock an “equal weight” rating in a report on Monday, March 30th. Royal Bank Of Canada increased their price target on shares of BOK Financial from $136.00 to $145.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Barclays increased their price target on shares of BOK Financial from $135.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, April 7th. Citigroup increased their price target on shares of BOK Financial from $135.00 to $138.00 and gave the company a “neutral” rating in a report on Thursday, April 23rd. Finally, Zacks Research cut shares of BOK Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Three equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $134.91.

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.