Wedge Capital Management L L P NC acquired a new position in BOK Financial Co. (NASDAQ:BOKF) during the 3rd quarter, HoldingsChannel reports. The firm acquired 6,419 shares of the bank’s stock, valued at approximately $624,000.
Several other hedge funds also recently modified their holdings of BOKF. BlackRock Inc. increased its stake in BOK Financial by 6.8% during the 2nd quarter. BlackRock Inc. now owns 1,140,977 shares of the bank’s stock worth $107,262,000 after buying an additional 73,023 shares during the period. Bank of America Corp DE increased its stake in BOK Financial by 47.2% during the 2nd quarter. Bank of America Corp DE now owns 167,778 shares of the bank’s stock worth $15,772,000 after buying an additional 53,814 shares during the period. Reinhart Partners Inc. increased its stake in BOK Financial by 21.6% during the 3rd quarter. Reinhart Partners Inc. now owns 289,632 shares of the bank’s stock worth $28,175,000 after buying an additional 51,456 shares during the period. Breogan Capital LP purchased a new stake in BOK Financial during the 2nd quarter worth approximately $3,008,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in BOK Financial by 100.6% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 61,322 shares of the bank’s stock worth $5,866,000 after buying an additional 30,748 shares during the period. Hedge funds and other institutional investors own 33.90% of the company’s stock.
In other news, EVP Joseph A. Gottron II acquired 400 shares of the company’s stock in a transaction on Wednesday, October 31st. The shares were bought at an average cost of $86.07 per share, with a total value of $34,428.00. Following the transaction, the executive vice president now owns 6,556 shares in the company, valued at approximately $564,274.92. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director C Fred Ball, Jr. sold 450 shares of the stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $102.92, for a total transaction of $46,314.00. Following the completion of the sale, the director now directly owns 3,066 shares in the company, valued at $315,552.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,276 shares of company stock worth $228,788. Insiders own 60.50% of the company’s stock.
BOK Financial (NASDAQ:BOKF) last announced its quarterly earnings data on Wednesday, October 24th. The bank reported $1.79 EPS for the quarter, beating the Zacks’ consensus estimate of $1.75 by $0.04. BOK Financial had a net margin of 23.20% and a return on equity of 11.84%. The company had revenue of $408.82 million for the quarter, compared to the consensus estimate of $403.09 million. During the same period in the prior year, the firm posted $1.31 EPS. On average, research analysts forecast that BOK Financial Co. will post 6.83 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 26th. Shareholders of record on Monday, November 12th will be given a $0.50 dividend. The ex-dividend date is Thursday, November 8th. This is an increase from BOK Financial’s previous quarterly dividend of $0.40. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.25%. BOK Financial’s dividend payout ratio is currently 37.81%.
BOKF has been the topic of several recent research reports. Zacks Investment Research raised shares of BOK Financial from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a research note on Monday, August 20th. BidaskClub raised shares of BOK Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, September 11th. Stephens set a $114.00 target price on shares of BOK Financial and gave the stock a “buy” rating in a research note on Wednesday, October 24th. Wedbush set a $105.00 target price on shares of BOK Financial and gave the stock a “buy” rating in a research note on Thursday, October 25th. Finally, Wells Fargo & Co set a $100.00 target price on shares of BOK Financial and gave the stock a “hold” rating in a research note on Tuesday, October 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $105.79.
BOK Financial Profile
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.
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