Diamond Hill Capital Management LLC Investment Advisor Buys New Position in BOK Financial Corporation $BOKF

Diamond Hill Capital Management LLC Investment Advisor purchased a new position in BOK Financial Corporation (NASDAQ:BOKF) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,010 shares of the bank’s stock, valued at approximately $1,668,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in shares of BOK Financial by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,708,525 shares of the bank’s stock valued at $346,843,000 after acquiring an additional 34,833 shares during the last quarter. Cibc World Markets Corp acquired a new stake in shares of BOK Financial in the fourth quarter valued at approximately $130,994,000. Cibc World Market Inc. grew its position in shares of 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 acquiring an additional 254,800 shares during the last quarter. State Street Corp increased its holdings in shares of BOK Financial by 5.3% in the 4th quarter. State Street Corp now owns 872,649 shares of the bank’s stock valued at $103,374,000 after acquiring an additional 44,068 shares during the period. Finally, Freestone Grove Partners LP raised its position in BOK Financial by 36.3% in the 4th quarter. Freestone Grove Partners LP now owns 495,532 shares of the bank’s stock valued at $58,701,000 after purchasing an additional 131,922 shares during the last quarter. 34.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BOKF has been the topic of a number of recent research reports. DA Davidson restated a “neutral” rating and issued a $150.00 price objective on shares of BOK Financial in a research note on Tuesday, July 21st. Royal Bank Of Canada lifted their target price on BOK Financial from $147.00 to $149.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 22nd. Wells Fargo & Company boosted their target price on BOK Financial from $138.00 to $148.00 and gave the company an “equal weight” rating in a report on Monday, August 10th. Raymond James Financial cut BOK Financial from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 1st. Finally, Benchmark began coverage on BOK Financial in a report on Wednesday, June 24th. They set a “hold” rating for the company. Two research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $140.36.

BOK Financial Trading Down 0.2%

NASDAQ BOKF opened at $145.72 on Tuesday. The stock has a market capitalization of $8.86 billion, a P/E ratio of 13.73 and a beta of 0.80. BOK Financial Corporation has a 52-week low of $102.72 and a 52-week high of $146.84. The firm has a 50-day moving average price of $139.23 and a 200 day moving average price of $133.48. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.57.

BOK Financial (NASDAQ:BOKF) last announced its quarterly earnings data on Monday, July 20th. The bank reported $2.59 earnings per share 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 10.09%. The business had revenue of $602.54 million during the quarter, compared to analysts’ expectations of $568.08 million. During the same period in the prior year, the firm posted $2.19 EPS. BOK Financial’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts expect that BOK Financial Corporation will post 10.32 EPS for the current year.

BOK Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be paid a $0.63 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.7%. BOK Financial’s payout ratio is 23.75%.

Insider Buying and Selling

In related news, EVP Brad A. Vincent sold 4,015 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $145.42, for a total transaction of $583,861.30. Following the transaction, the executive vice president owned 6,031 shares of the company’s stock, valued at $877,028.02. This represents a 39.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven Bangert sold 1,250 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $143.96, for a total value of $179,950.00. Following the completion of the transaction, the director owned 31,710 shares of the company’s stock, valued at $4,564,971.60. The trade was a 3.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 5,274 shares of company stock worth $765,067. Company insiders own 63.53% of the company’s stock.

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.