Wedge Capital Management L L P NC Sells 2,515 Shares of BOK Financial Co. (NASDAQ:BOKF)

Wedge Capital Management L L P NC cut its stake in shares of BOK Financial Co. (NASDAQ:BOKF) by 42.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,415 shares of the bank’s stock after selling 2,515 shares during the quarter. Wedge Capital Management L L P NC’s holdings in BOK Financial were worth $270,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of BOKF. Cibc World Markets Corp grew its holdings in BOK Financial by 37.9% during the 2nd quarter. Cibc World Markets Corp now owns 1,144,570 shares of the bank’s stock worth $86,392,000 after acquiring an additional 314,550 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of BOK Financial in the 2nd quarter valued at $6,111,000. Jane Street Group LLC bought a new stake in shares of BOK Financial in the 2nd quarter valued at $3,697,000. Bank of America Corp DE boosted its stake in shares of BOK Financial by 12.7% in the 2nd quarter. Bank of America Corp DE now owns 380,539 shares of the bank’s stock valued at $28,722,000 after purchasing an additional 42,782 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of BOK Financial in the 2nd quarter valued at $2,608,000. 40.02% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:BOKF traded down $1.13 during trading on Friday, reaching $82.65. The stock had a trading volume of 108,100 shares, compared to its average volume of 166,832. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 12.19, a P/E/G ratio of 1.87 and a beta of 1.26. The firm’s fifty day moving average is $78.27 and its 200 day moving average is $78.78. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.85 and a current ratio of 0.86. BOK Financial Co. has a 52 week low of $69.96 and a 52 week high of $93.72.

BOK Financial (NASDAQ:BOKF) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $2.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.92 by $0.08. The company had revenue of $465.55 million during the quarter, compared to analyst estimates of $461.86 million. BOK Financial had a net margin of 22.88% and a return on equity of 11.20%. During the same quarter in the prior year, the business earned $1.79 earnings per share. On average, research analysts forecast that BOK Financial Co. will post 7.42 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Friday, November 8th. This is a positive change from BOK Financial’s previous quarterly dividend of $0.40. BOK Financial’s dividend payout ratio (DPR) is currently 29.50%.

In other news, Director Steven Bangert sold 8,889 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $77.23, for a total value of $686,497.47. Following the sale, the director now directly owns 147,416 shares of the company’s stock, valued at $11,384,937.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. 54.90% of the stock is owned by company insiders.

A number of equities research analysts have recently commented on the stock. BidaskClub raised shares of BOK Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. SunTrust Banks set a $82.00 price objective on shares of BOK Financial and gave the company a “hold” rating in a research note on Friday, October 25th. Stephens lowered shares of BOK Financial from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $87.00 to $88.00 in a research note on Thursday, July 25th. Raymond James upped their price objective on shares of BOK Financial from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, ValuEngine lowered shares of BOK Financial from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $88.86.

BOK Financial 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.

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Institutional Ownership by Quarter for BOK Financial (NASDAQ:BOKF)

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