Palisade Capital Management LLC NJ Acquires New Shares in BOK Financial Co. (NASDAQ:BOKF)

Palisade Capital Management LLC NJ purchased a new stake in shares of BOK Financial Co. (NASDAQ:BOKFGet Rating) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,702 shares of the bank’s stock, valued at approximately $348,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Covestor Ltd bought a new position in shares of BOK Financial during the 4th quarter valued at $31,000. Geneos Wealth Management Inc. bought a new position in BOK Financial in the 4th quarter worth $63,000. First Horizon Advisors Inc. raised its holdings in BOK Financial by 76.9% in the 4th quarter. First Horizon Advisors Inc. now owns 697 shares of the bank’s stock worth $74,000 after purchasing an additional 303 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in BOK Financial by 1,572.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 2,040 shares of the bank’s stock worth $215,000 after purchasing an additional 1,918 shares during the period. Finally, Advisor Group Holdings Inc. raised its holdings in BOK Financial by 4.8% in the 4th quarter. Advisor Group Holdings Inc. now owns 2,141 shares of the bank’s stock worth $226,000 after purchasing an additional 99 shares during the period. 39.12% of the stock is owned by institutional investors.

BOK Financial Trading Up 1.6 %

Shares of BOKF stock opened at $88.86 on Friday. BOK Financial Co. has a 52-week low of $70.21 and a 52-week high of $120.20. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market capitalization of $6.05 billion, a PE ratio of 12.14 and a beta of 1.39. The stock has a fifty day simple moving average of $79.77 and a two-hundred day simple moving average of $89.75.

BOK Financial (NASDAQ:BOKFGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The bank reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.53. BOK Financial had a return on equity of 9.84% and a net margin of 27.90%. The business had revenue of $442.60 million during the quarter, compared to analyst estimates of $419.97 million. During the same quarter in the prior year, the business posted $2.40 EPS. BOK Financial’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, analysts predict that BOK Financial Co. will post 6.87 EPS for the current fiscal year.

BOK Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 25th. Stockholders of record on Tuesday, August 16th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, August 15th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.39%. BOK Financial’s payout ratio is 28.96%.

Wall Street Analyst Weigh In

BOKF has been the topic of a number of recent research reports. Stephens raised their target price on BOK Financial from $85.00 to $92.00 and gave the stock an “equal weight” rating in a report on Thursday, July 28th. Wells Fargo & Company raised their target price on BOK Financial from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, July 28th. Truist Financial decreased their target price on BOK Financial from $91.00 to $87.00 in a report on Wednesday, June 15th. Finally, Wedbush raised their target price on BOK Financial from $78.00 to $86.00 in a report on Thursday, July 28th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $96.83.

Insider Activity at BOK Financial

In related news, Director Steven Bangert sold 3,000 shares of the stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $80.16, for a total value of $240,480.00. Following the completion of the transaction, the director now owns 76,852 shares of the company’s stock, valued at approximately $6,160,456.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Steven Bangert sold 3,000 shares of the stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $80.16, for a total value of $240,480.00. Following the completion of the transaction, the director now owns 76,852 shares of the company’s stock, valued at approximately $6,160,456.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven G. Bradshaw sold 10,000 shares of the stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $85.01, for a total transaction of $850,100.00. Following the completion of the transaction, the director now directly owns 74,029 shares of the company’s stock, valued at approximately $6,293,205.29. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,000 shares of company stock valued at $1,345,580. Insiders own 56.94% of the company’s stock.

BOK Financial Profile

(Get Rating)

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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