Envestnet Asset Management Inc. Increases Stock Position in BOK Financial Corporation $BOKF

Envestnet Asset Management Inc. grew its position in shares of BOK Financial Corporation (NASDAQ:BOKF) by 11.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,263 shares of the bank’s stock after acquiring an additional 2,909 shares during the period. Envestnet Asset Management Inc.’s holdings in BOK Financial were worth $2,662,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Forum Financial Management LP increased its holdings in BOK Financial by 5.2% during the 2nd quarter. Forum Financial Management LP now owns 2,488 shares of the bank’s stock valued at $243,000 after purchasing an additional 122 shares during the period. Nicolet Advisory Services LLC grew its position in shares of BOK Financial by 6.9% in the 1st quarter. Nicolet Advisory Services LLC now owns 2,386 shares of the bank’s stock worth $249,000 after buying an additional 153 shares during the last quarter. Royal Bank of Canada increased its stake in shares of BOK Financial by 11.3% during the first quarter. Royal Bank of Canada now owns 3,201 shares of the bank’s stock valued at $333,000 after buying an additional 324 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of BOK Financial by 18.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,207 shares of the bank’s stock valued at $230,000 after acquiring an additional 349 shares in the last quarter. Finally, Meritage Portfolio Management raised its holdings in shares of BOK Financial by 6.3% during the second quarter. Meritage Portfolio Management now owns 6,452 shares of the bank’s stock valued at $630,000 after acquiring an additional 381 shares in the last quarter. 34.44% of the stock is currently owned by hedge funds and other institutional investors.

BOK Financial Trading Down 0.1%

BOK Financial stock opened at $107.56 on Monday. BOK Financial Corporation has a 12 month low of $85.07 and a 12 month high of $121.58. The company has a market capitalization of $6.80 billion, a price-to-earnings ratio of 12.82 and a beta of 0.93. The business’s fifty day simple moving average is $109.58 and its two-hundred day simple moving average is $103.73. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.70.

BOK Financial (NASDAQ:BOKF) last announced its quarterly earnings results on Monday, September 8th. The bank reported $2.02 earnings per share (EPS) for the quarter. BOK Financial had a net margin of 15.98% and a return on equity of 9.35%. The company had revenue of $298.49 million for the quarter. As a group, equities analysts predict that BOK Financial Corporation will post 8.83 earnings per share for the current fiscal year.

BOK Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th will be given a $0.63 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from BOK Financial’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a yield of 2.3%. BOK Financial’s payout ratio is 30.04%.

Wall Street Analyst Weigh In

Several research analysts have commented on BOKF shares. Credit Suisse Group set a $116.00 price objective on shares of BOK Financial in a report on Wednesday, October 22nd. Royal Bank Of Canada boosted their price target on shares of BOK Financial from $110.00 to $124.00 and gave the company a “sector perform” rating in a research report on Friday, October 10th. Keefe, Bruyette & Woods lowered their price objective on shares of BOK Financial from $118.00 to $116.00 and set a “market perform” rating for the company in a report on Wednesday, October 22nd. DA Davidson upped their target price on BOK Financial from $120.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Finally, Jefferies Financial Group set a $135.00 target price on BOK Financial and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $115.55.

Insider Activity

In other news, Director Steven Bangert sold 1,000 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $106.07, for a total transaction of $106,070.00. Following the completion of the sale, the director owned 12,236 shares of the company’s stock, valued at $1,297,872.52. This represents a 7.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 56.94% of the stock is currently owned by corporate insiders.

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.