Janney Montgomery Scott LLC Trims Stock Holdings in BOK Financial Co. (NASDAQ:BOKF)

Janney Montgomery Scott LLC reduced its stake in BOK Financial Co. (NASDAQ:BOKFGet Rating) by 4.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,680 shares of the bank’s stock after selling 130 shares during the quarter. Janney Montgomery Scott LLC’s holdings in BOK Financial were worth $208,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in BOK Financial by 5.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,602,673 shares of the bank’s stock worth $150,579,000 after buying an additional 78,599 shares during the period. State Street Corp lifted its position in BOK Financial by 37.0% during the first quarter. State Street Corp now owns 1,231,625 shares of the bank’s stock worth $115,711,000 after buying an additional 332,904 shares during the period. Goldman Sachs Group Inc. lifted its position in BOK Financial by 7.2% during the first quarter. Goldman Sachs Group Inc. now owns 287,534 shares of the bank’s stock worth $27,013,000 after buying an additional 19,388 shares during the period. Bank of New York Mellon Corp lifted its position in BOK Financial by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 267,871 shares of the bank’s stock worth $25,166,000 after buying an additional 2,337 shares during the period. Finally, Reinhart Partners Inc. lifted its position in BOK Financial by 0.8% during the second quarter. Reinhart Partners Inc. now owns 233,902 shares of the bank’s stock worth $17,679,000 after buying an additional 1,868 shares during the period. 38.28% of the stock is currently owned by hedge funds and other institutional investors.

BOK Financial Price Performance

BOKF stock opened at $102.21 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.67 and a current ratio of 0.67. BOK Financial Co. has a 1 year low of $70.21 and a 1 year high of $120.20. The firm has a market cap of $6.87 billion, a P/E ratio of 14.81 and a beta of 1.33. The stock has a 50-day simple moving average of $97.08 and a 200-day simple moving average of $88.30.

BOK Financial (NASDAQ:BOKFGet Rating) last posted its earnings results on Wednesday, October 26th. The bank reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.33. BOK Financial had a return on equity of 9.63% and a net margin of 25.70%. The business had revenue of $506.02 million during the quarter, compared to analyst estimates of $459.30 million. During the same quarter last year, the firm earned $2.74 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. On average, equities analysts predict that BOK Financial Co. will post 7.45 earnings per share for the current fiscal year.

BOK Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Tuesday, November 15th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Monday, November 14th. This is a positive change from BOK Financial’s previous quarterly dividend of $0.53. BOK Financial’s dividend payout ratio (DPR) is 31.30%.

Insider Buying and Selling at BOK Financial

In other BOK Financial news, CFO Steven E. Nell sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $109.07, for a total transaction of $218,140.00. Following the completion of the sale, the chief financial officer now owns 56,700 shares in the company, valued at approximately $6,184,269. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other BOK Financial news, CFO Steven E. Nell sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $109.07, for a total transaction of $218,140.00. Following the completion of the sale, the chief financial officer now owns 56,700 shares in the company, valued at approximately $6,184,269. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Norman P. Bagwell sold 3,521 shares of the stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $105.36, for a total value of $370,972.56. Following the transaction, the executive vice president now directly owns 27,071 shares in the company, valued at approximately $2,852,200.56. The disclosure for this sale can be found here. Insiders sold a total of 34,275 shares of company stock worth $3,645,924 in the last 90 days. 56.94% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BOKF shares. StockNews.com started coverage on BOK Financial in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Royal Bank of Canada upped their price target on BOK Financial from $102.00 to $110.00 in a research note on Thursday, October 27th. Wedbush upped their price target on BOK Financial from $90.00 to $100.00 in a research note on Thursday, October 27th. Stephens upped their price target on BOK Financial from $95.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 27th. Finally, DA Davidson upped their price target on BOK Financial to $112.00 in a research note on Thursday, October 27th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, BOK Financial currently has a consensus rating of “Hold” and an average price target of $108.29.

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.

Further Reading

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

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