Allspring Global Investments Holdings LLC Decreases Stake in BOK Financial Corporation $BOKF

Allspring Global Investments Holdings LLC lowered its position in shares of BOK Financial Corporation (NASDAQ:BOKF) by 3.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 250,157 shares of the bank’s stock after selling 8,186 shares during the period. Allspring Global Investments Holdings LLC owned about 0.40% of BOK Financial worth $29,689,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. CIBC Bancorp USA Inc. purchased a new position in BOK Financial during the third quarter valued at $123,231,000. Freestone Grove Partners LP boosted its holdings in shares of BOK Financial by 407.0% in the 3rd quarter. Freestone Grove Partners LP now owns 363,610 shares of the bank’s stock worth $40,521,000 after purchasing an additional 291,894 shares during the period. Norges Bank bought a new stake in BOK Financial in the second quarter worth about $24,764,000. First Trust Advisors LP boosted its position in shares of BOK Financial by 94.8% during the second quarter. First Trust Advisors LP now owns 377,391 shares of the bank’s stock valued at $36,845,000 after buying an additional 183,668 shares during the period. Finally, Qube Research & Technologies Ltd grew its stake in shares of BOK Financial by 193.7% during the second quarter. Qube Research & Technologies Ltd now owns 226,230 shares of the bank’s stock valued at $22,087,000 after buying an additional 149,201 shares during the last quarter. 34.44% of the stock is currently owned by hedge funds and other institutional investors.

BOK Financial Stock Performance

NASDAQ BOKF opened at $128.58 on Friday. The stock’s 50 day simple moving average is $129.34 and its 200-day simple moving average is $119.73. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market cap of $7.81 billion, a PE ratio of 14.04 and a beta of 0.85. BOK Financial Corporation has a 1-year low of $85.07 and a 1-year high of $138.42.

BOK Financial (NASDAQ:BOKF) last announced its quarterly earnings data on Friday, January 16th. The bank reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.32. BOK Financial had a net margin of 17.10% and a return on equity of 9.36%. The company had revenue of $589.56 million during the quarter, compared to analysts’ expectations of $550.05 million. During the same quarter in the prior year, the company earned $2.12 EPS. As a group, equities research analysts anticipate that BOK Financial Corporation will post 8.83 EPS for the current fiscal year.

BOK Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Thursday, February 19th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.0%. The ex-dividend date was Thursday, February 19th. BOK Financial’s dividend payout ratio (DPR) is presently 27.51%.

Analyst Upgrades and Downgrades

BOKF has been the subject of a number of research analyst reports. Piper Sandler set a $135.00 price objective on shares of BOK Financial in a report on Wednesday, January 21st. Wall Street Zen raised shares of BOK Financial from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Royal Bank Of Canada lifted their price target on BOK Financial from $124.00 to $132.00 and gave the company a “sector perform” rating in a report on Wednesday, January 21st. 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 report on Monday, March 30th. Finally, Keefe, Bruyette & Woods raised their price target on shares of BOK Financial from $116.00 to $135.00 and gave the stock a “market perform” rating in a report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $130.33.

Insider Activity

In other news, Director Steven Bangert sold 1,300 shares of BOK Financial stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $137.91, for a total transaction of $179,283.00. Following the sale, the director owned 10,936 shares of the company’s stock, valued at approximately $1,508,183.76. The trade was a 10.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 56.94% of the stock is owned by corporate insiders.

BOK Financial Profile

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.