Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 11,669 BOK Financial Co. (NASDAQ:BOKF)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in BOK Financial Co. (NASDAQ:BOKF) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,669 shares of the bank’s stock, valued at approximately $1,242,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. HighTower Advisors LLC raised its position in BOK Financial by 166.9% during the 4th quarter. HighTower Advisors LLC now owns 7,504 shares of the bank’s stock valued at $799,000 after purchasing an additional 4,692 shares during the last quarter. King Luther Capital Management Corp increased its stake in shares of BOK Financial by 15.2% during the fourth quarter. King Luther Capital Management Corp now owns 9,475 shares of the bank’s stock valued at $1,009,000 after buying an additional 1,250 shares during the period. AlphaQuest LLC raised its holdings in shares of BOK Financial by 8.4% during the fourth quarter. AlphaQuest LLC now owns 19,921 shares of the bank’s stock valued at $2,121,000 after acquiring an additional 1,538 shares in the last quarter. Inceptionr LLC purchased a new stake in BOK Financial in the fourth quarter worth $623,000. Finally, Raymond James Financial Inc. bought a new stake in BOK Financial in the fourth quarter valued at $6,138,000. 34.44% of the stock is owned by institutional investors.

BOK Financial Price Performance

BOKF opened at $103.55 on Thursday. The firm has a market cap of $6.65 billion, a PE ratio of 12.74 and a beta of 1.20. The stock has a 50-day moving average price of $108.07 and a 200-day moving average price of $109.13. BOK Financial Co. has a 1 year low of $85.02 and a 1 year high of $121.58. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.75 and a quick ratio of 0.79.

BOK Financial (NASDAQ:BOKF) last issued its earnings results on Friday, January 17th. The bank reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.15. BOK Financial had a net margin of 15.32% and a return on equity of 9.86%. Sell-side analysts predict that BOK Financial Co. will post 8.83 earnings per share for the current fiscal year.

BOK Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Wednesday, February 12th. BOK Financial’s dividend payout ratio is currently 28.04%.

Analyst Upgrades and Downgrades

BOKF has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised their target price on shares of BOK Financial from $112.00 to $125.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Wells Fargo & Company lifted their price objective on BOK Financial from $105.00 to $112.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. StockNews.com lowered BOK Financial from a “buy” rating to a “hold” rating in a research report on Monday. Stephens dropped their price target on BOK Financial from $135.00 to $127.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Finally, Royal Bank of Canada upped their price target on BOK Financial from $115.00 to $120.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 22nd. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $119.11.

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.