Parallel Advisors LLC Reduces Stock Position in BOK Financial Corporation $BOKF

Parallel Advisors LLC lowered its position in shares of BOK Financial Corporation (NASDAQ:BOKF) by 12.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,942 shares of the bank’s stock after selling 853 shares during the period. Parallel Advisors LLC’s holdings in BOK Financial were worth $580,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S bought a new position in BOK Financial in the 1st quarter worth $47,000. Versant Capital Management Inc raised its holdings in BOK Financial by 1,046.7% in the 1st quarter. Versant Capital Management Inc now owns 1,376 shares of the bank’s stock worth $143,000 after purchasing an additional 1,256 shares in the last quarter. Acadian Asset Management LLC bought a new position in BOK Financial in the 1st quarter worth $159,000. 111 Capital bought a new position in shares of BOK Financial in the 4th quarter worth about $206,000. Finally, New York State Teachers Retirement System bought a new position in shares of BOK Financial in the 1st quarter worth about $218,000. Hedge funds and other institutional investors own 34.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Citigroup increased their price target on shares of BOK Financial from $97.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 2nd. Wall Street Zen lowered shares of BOK Financial from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Wells Fargo & Company set a $110.00 price objective on shares of BOK Financial and gave the company an “equal weight” rating in a research report on Monday, July 28th. Barclays increased their price objective on shares of BOK Financial from $110.00 to $115.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 8th. Finally, Jefferies Financial Group increased their price objective on shares of BOK Financial from $110.00 to $120.00 and gave the company a “hold” rating in a research report on Wednesday, September 3rd. Two investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $113.00.

BOK Financial Stock Performance

BOKF opened at $111.40 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.70. The company has a market cap of $7.09 billion, a price-to-earnings ratio of 13.34 and a beta of 0.91. The company’s 50 day moving average is $106.91 and its 200 day moving average is $100.10. BOK Financial Corporation has a 12-month low of $85.07 and a 12-month high of $121.58.

BOK Financial (NASDAQ:BOKF) last released its earnings results on Monday, July 21st. The bank reported $2.19 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.21. The company had revenue of $525.50 million for the quarter, compared to analysts’ expectations of $521.80 million. BOK Financial had a net margin of 15.80% and a return on equity of 9.39%. During the same quarter last year, the business earned $2.54 EPS. On average, equities research analysts predict that BOK Financial Corporation will post 8.83 EPS for the current year.

BOK Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, August 13th. BOK Financial’s payout ratio is presently 27.31%.

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.