USA Financial Formulas Acquires Shares of 2,997 BOK Financial Co. (NASDAQ:BOKF)

USA Financial Formulas acquired a new stake in shares of BOK Financial Co. (NASDAQ:BOKF) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,997 shares of the bank’s stock, valued at approximately $319,000.

Other hedge funds have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in BOK Financial during the 2nd quarter valued at $39,000. KBC Group NV increased its position in BOK Financial by 25.3% during the 3rd quarter. KBC Group NV now owns 905 shares of the bank’s stock valued at $95,000 after purchasing an additional 183 shares during the period. Prospera Private Wealth LLC purchased a new stake in shares of BOK Financial in the 3rd quarter worth about $142,000. CWM LLC grew its position in shares of BOK Financial by 211.8% in the 3rd quarter. CWM LLC now owns 1,456 shares of the bank’s stock worth $152,000 after buying an additional 989 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in shares of BOK Financial in the 2nd quarter worth about $143,000. 34.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at BOK Financial

In other news, Director Steven Bangert sold 2,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $117.83, for a total value of $235,660.00. Following the transaction, the director now owns 44,709 shares in the company, valued at $5,268,061.47. This represents a 4.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 59.72% of the company’s stock.

BOK Financial Price Performance

BOKF opened at $111.12 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market capitalization of $7.13 billion, a P/E ratio of 15.28 and a beta of 1.20. The company’s 50-day simple moving average is $113.30 and its two-hundred day simple moving average is $106.28. BOK Financial Co. has a 52-week low of $77.86 and a 52-week high of $121.58.

BOK Financial (NASDAQ:BOKF) last posted its earnings results on Monday, October 21st. The bank reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.20. The business had revenue of $888.50 million for the quarter, compared to analysts’ expectations of $509.43 million. BOK Financial had a net margin of 13.78% and a return on equity of 9.67%. During the same quarter in the prior year, the business earned $2.04 EPS. As a group, analysts predict that BOK Financial Co. will post 8.07 EPS for the current year.

BOK Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Friday, November 15th. This is a boost from BOK Financial’s previous quarterly dividend of $0.55. BOK Financial’s dividend payout ratio is 31.36%.

Analysts Set New Price Targets

BOKF has been the topic of a number of recent research reports. DA Davidson reduced their target price on shares of BOK Financial from $124.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Stephens reduced their target price on shares of BOK Financial from $116.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Royal Bank of Canada upped their target price on shares of BOK Financial from $111.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 23rd. Truist Financial raised shares of BOK Financial from a “hold” rating to a “buy” rating and upped their target price for the stock from $112.00 to $123.00 in a research report on Friday, September 20th. Finally, Wedbush reiterated a “neutral” rating and issued a $115.00 price target on shares of BOK Financial in a research note on Tuesday, October 22nd. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, BOK Financial presently has a consensus rating of “Hold” and an average target price of $114.40.

About BOK Financial

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.