Edgestream Partners L.P. Takes $6.25 Million Position in BOK Financial Corporation $BOKF

Edgestream Partners L.P. acquired a new position in shares of BOK Financial Corporation (NASDAQ:BOKF) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 48,786 shares of the bank’s stock, valued at approximately $6,248,000.

A number of other hedge funds have also modified their holdings of BOKF. Farther Finance Advisors LLC lifted its holdings in shares of BOK Financial by 173.1% during the fourth quarter. Farther Finance Advisors LLC now owns 213 shares of the bank’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Pinnacle Holdings LLC purchased a new position in BOK Financial in the 4th quarter worth about $31,000. Fifth Third Bancorp raised its holdings in BOK Financial by 2,291.7% during the 1st quarter. Fifth Third Bancorp now owns 287 shares of the bank’s stock worth $37,000 after buying an additional 275 shares during the period. Covestor Ltd lifted its stake in BOK Financial by 108.0% during the fourth quarter. Covestor Ltd now owns 366 shares of the bank’s stock valued at $43,000 after buying an additional 190 shares in the last quarter. Finally, Root Financial Partners LLC lifted its stake in BOK Financial by 56.2% during the first quarter. Root Financial Partners LLC now owns 367 shares of the bank’s stock valued at $47,000 after buying an additional 132 shares in the last quarter. 34.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Steven Bangert sold 500 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $134.91, for a total transaction of $67,455.00. Following the completion of the sale, the director directly owned 10,436 shares in the company, valued at approximately $1,407,920.76. This trade represents a 4.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark B. Wade sold 1,700 shares of BOK Financial stock in a transaction 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 sale, the executive vice president directly owned 20,361 shares of the company’s stock, valued at approximately $2,700,275.82. The trade was a 7.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,309 shares of company stock valued at $577,203 in the last three months. Company insiders own 63.53% of the company’s stock.

BOK Financial Price Performance

NASDAQ BOKF opened at $141.07 on Friday. The company has a 50 day simple moving average of $135.51 and a 200-day simple moving average of $132.19. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $8.57 billion, a price-to-earnings ratio of 13.30 and a beta of 0.80. BOK Financial Corporation has a 52-week low of $97.40 and a 52-week high of $143.65.

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

BOK Financial Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada lifted their target price on shares of BOK Financial from $147.00 to $149.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of BOK Financial in a research report on Tuesday, June 9th. DA Davidson reissued a “neutral” rating and set a $150.00 target price on shares of BOK Financial in a research note on Tuesday, July 21st. Benchmark began coverage on BOK Financial in a report on Wednesday, June 24th. They issued a “hold” rating for the company. Finally, Barclays raised their target price on BOK Financial from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. Two research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $139.00.

About BOK Financial

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.