Norges Bank Purchases Shares of 276,507 BOK Financial Corporation $BOKF

Norges Bank purchased a new stake in shares of BOK Financial Corporation (NASDAQ:BOKF) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 276,507 shares of the bank’s stock, valued at approximately $32,755,000. Norges Bank owned 0.44% of BOK Financial as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. M&T Bank Corp boosted its position in BOK Financial by 1,397.2% during the fourth quarter. M&T Bank Corp now owns 30,767 shares of the bank’s stock valued at $3,645,000 after buying an additional 28,712 shares during the period. Dimensional Fund Advisors LP boosted its position in BOK Financial by 2.3% during the third quarter. Dimensional Fund Advisors LP now owns 2,629,362 shares of the bank’s stock valued at $293,015,000 after buying an additional 59,241 shares during the period. Victory Capital Management Inc. boosted its position in BOK Financial by 18.8% during the third quarter. Victory Capital Management Inc. now owns 234,007 shares of the bank’s stock valued at $26,078,000 after buying an additional 36,982 shares during the period. Numerai GP LLC purchased a new stake in BOK Financial during the third quarter valued at about $1,949,000. Finally, Isthmus Partners LLC purchased a new stake in BOK Financial during the fourth quarter valued at about $1,775,000. 34.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Steven Bangert sold 2,100 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $134.78, for a total value of $283,038.00. Following the completion of the transaction, the director directly owned 32,816 shares of the company’s stock, valued at $4,422,940.48. This represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey A. Reid sold 1,200 shares of the stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $135.52, for a total transaction of $162,624.00. Following the completion of the transaction, the executive vice president directly owned 8,116 shares of the company’s stock, valued at approximately $1,099,880.32. The trade was a 12.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 5,500 shares of company stock valued at $738,571 over the last three months. Corporate insiders own 63.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BOKF. Zacks Research lowered shares of BOK Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Citigroup upped their price objective on shares of BOK Financial from $135.00 to $138.00 and gave the company a “neutral” rating in a research note on Thursday, April 23rd. Wells Fargo & Company upped their price objective on shares of BOK Financial from $115.00 to $127.00 and gave the company an “equal weight” rating in a research note on Monday, March 30th. DA Davidson upped their price objective on shares of BOK Financial from $132.00 to $139.00 and gave the company a “neutral” rating in a research note on Wednesday, April 22nd. Finally, Barclays upped their price objective on shares of BOK Financial from $135.00 to $145.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 7th. Three investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $134.91.

BOK Financial Stock Performance

Shares of NASDAQ:BOKF opened at $128.94 on Tuesday. The company has a market cap of $7.83 billion, a price-to-earnings ratio of 13.05 and a beta of 0.81. The company has a 50-day moving average price of $130.98 and a 200-day moving average price of $126.80. 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.

BOK Financial (NASDAQ:BOKF) last issued its quarterly earnings data on Monday, April 20th. The bank reported $2.58 EPS for the quarter, beating the consensus estimate of $2.30 by $0.28. BOK Financial had a net margin of 18.05% and a return on equity of 9.89%. The firm had revenue of $553.82 million during the quarter, compared to the consensus estimate of $549.71 million. During the same period in the prior year, the firm posted $1.86 earnings per share. As a group, equities analysts anticipate that BOK Financial Corporation will post 10.24 EPS for the current year.

BOK Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, May 13th. BOK Financial’s dividend payout ratio is presently 25.51%.

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.