Verition Fund Management LLC Makes New $2.49 Million Investment in BOK Financial Co. (NASDAQ:BOKF)

Verition Fund Management LLC purchased a new position in BOK Financial Co. (NASDAQ:BOKFGet Rating) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 26,500 shares of the bank’s stock, valued at approximately $2,490,000.

Other hedge funds have also bought and sold shares of the company. Covestor Ltd purchased a new stake in shares of BOK Financial during the 4th quarter valued at about $31,000. MetLife Investment Management LLC purchased a new stake in shares of BOK Financial during the 1st quarter valued at about $57,000. NN Investment Partners Holdings N.V. purchased a new stake in shares of BOK Financial during the 1st quarter valued at about $140,000. O Shaughnessy Asset Management LLC raised its position in shares of BOK Financial by 1,572.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 2,040 shares of the bank’s stock valued at $215,000 after buying an additional 1,918 shares in the last quarter. Finally, MQS Management LLC purchased a new stake in shares of BOK Financial during the 1st quarter valued at about $201,000. Hedge funds and other institutional investors own 38.28% of the company’s stock.

Insider Activity

In other news, Director Steven G. Bradshaw sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $92.59, for a total transaction of $231,475.00. Following the transaction, the director now directly owns 61,604 shares in the company, valued at $5,703,914.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Steven G. Bradshaw sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $92.59, for a total transaction of $231,475.00. Following the transaction, the director now directly owns 61,604 shares in the company, valued at $5,703,914.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven Bangert sold 4,000 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $95.00, for a total transaction of $380,000.00. Following the transaction, the director now owns 69,927 shares in the company, valued at $6,643,065. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,500 shares of company stock worth $866,475. Corporate insiders own 56.94% of the company’s stock.

BOK Financial Price Performance

Shares of BOKF stock opened at $91.64 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.66 and a quick ratio of 0.65. The company has a market capitalization of $6.24 billion, a P/E ratio of 12.52 and a beta of 1.36. The company’s 50-day simple moving average is $86.93 and its two-hundred day simple moving average is $87.26. BOK Financial Co. has a one year low of $70.21 and a one year high of $120.20.

BOK Financial (NASDAQ:BOKFGet Rating) last issued its earnings results on Wednesday, July 27th. The bank reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.53. The business had revenue of $442.60 million for the quarter, compared to the consensus estimate of $419.97 million. BOK Financial had a net margin of 27.90% and a return on equity of 9.84%. The company’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.40 EPS. As a group, equities analysts anticipate that BOK Financial Co. will post 7.02 EPS for the current year.

BOK Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Tuesday, August 16th were paid a dividend of $0.53 per share. The ex-dividend date was Monday, August 15th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.31%. BOK Financial’s dividend payout ratio is presently 28.96%.

Analyst Ratings Changes

BOKF has been the topic of several recent research reports. Stephens upped their target price on shares of BOK Financial from $85.00 to $92.00 and gave the company an “equal weight” rating in a research report on Thursday, July 28th. Wedbush upped their price target on shares of BOK Financial from $78.00 to $86.00 in a report on Thursday, July 28th. Truist Financial upped their price target on shares of BOK Financial from $91.00 to $95.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Wells Fargo & Company upped their price target on shares of BOK Financial from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, July 28th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $98.17.

About BOK Financial

(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.

Further Reading

Want to see what other hedge funds are holding BOKF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BOK Financial Co. (NASDAQ:BOKFGet Rating).

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

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