Bank of New York Mellon Corp Lowers Position in BOK Financial Corporation (NASDAQ:BOKF)

Bank of New York Mellon Corp cut its holdings in shares of BOK Financial Corporation (NASDAQ:BOKF) by 4.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 177,735 shares of the bank’s stock after selling 8,166 shares during the quarter. Bank of New York Mellon Corp owned about 0.28% of BOK Financial worth $18,511,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. raised its position in BOK Financial by 85.3% in the 4th quarter. Victory Capital Management Inc. now owns 9,245 shares of the bank’s stock valued at $984,000 after purchasing an additional 4,256 shares in the last quarter. Raymond James Financial Inc. purchased a new position in BOK Financial during the 4th quarter worth approximately $6,138,000. HighTower Advisors LLC grew its stake in BOK Financial by 166.9% during the 4th quarter. HighTower Advisors LLC now owns 7,504 shares of the bank’s stock worth $799,000 after buying an additional 4,692 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of BOK Financial by 8.7% in the 4th quarter. Parallel Advisors LLC now owns 6,399 shares of the bank’s stock valued at $681,000 after purchasing an additional 510 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its stake in shares of BOK Financial by 98.5% in the 4th quarter. Teacher Retirement System of Texas now owns 18,184 shares of the bank’s stock valued at $1,936,000 after purchasing an additional 9,024 shares during the last quarter. Institutional investors and hedge funds own 34.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BOKF. Royal Bank Of Canada reduced their price objective on BOK Financial from $119.00 to $104.00 and set a “sector perform” rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company decreased their target price on BOK Financial from $120.00 to $100.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 9th. Hovde Group reduced their price target on BOK Financial from $122.00 to $110.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Jefferies Financial Group started coverage on BOK Financial in a research note on Wednesday, May 21st. They set a “hold” rating and a $105.00 price objective on the stock. Finally, Citigroup increased their price target on BOK Financial from $97.00 to $100.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 2nd. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $110.50.

BOK Financial Stock Performance

Shares of NASDAQ BOKF opened at $105.43 on Friday. The stock has a fifty day moving average price of $97.36 and a two-hundred day moving average price of $100.80. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market cap of $6.77 billion, a P/E ratio of 12.12 and a beta of 0.86. BOK Financial Corporation has a 1 year low of $85.08 and a 1 year high of $121.58.

BOK Financial (NASDAQ:BOKF) last issued its quarterly earnings results on Monday, April 21st. The bank reported $1.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.15). The firm had revenue of $500.37 million for the quarter, compared to the consensus estimate of $520.86 million. BOK Financial had a net margin of 16.39% and a return on equity of 9.51%. Research analysts forecast that BOK Financial Corporation will post 8.83 EPS for the current fiscal year.

BOK Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Thursday, May 15th were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Thursday, May 15th. BOK Financial’s dividend payout ratio is presently 26.21%.

BOK Financial Company 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.