Victory Capital Management Inc. Boosts Stake in BOK Financial Co. (NASDAQ:BOKF)

Victory Capital Management Inc. raised its position in shares of BOK Financial Co. (NASDAQ:BOKF) by 49.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,989 shares of the bank’s stock after acquiring an additional 1,648 shares during the period. Victory Capital Management Inc.’s holdings in BOK Financial were worth $522,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Edgestream Partners L.P. acquired a new stake in shares of BOK Financial in the second quarter valued at about $3,429,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in BOK Financial by 11.7% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 126,228 shares of the bank’s stock worth $11,567,000 after buying an additional 13,175 shares during the last quarter. Creative Planning lifted its holdings in BOK Financial by 130.1% during the 3rd quarter. Creative Planning now owns 11,946 shares of the bank’s stock worth $1,250,000 after buying an additional 6,755 shares during the last quarter. Sanctuary Advisors LLC bought a new position in BOK Financial during the 2nd quarter worth approximately $540,000. Finally, Bleakley Financial Group LLC raised its position in shares of BOK Financial by 31.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 3,013 shares of the bank’s stock worth $315,000 after purchasing an additional 724 shares during the period. Hedge funds and other institutional investors own 34.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BOKF. Wells Fargo & Company increased their price target on BOK Financial from $102.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Truist Financial upgraded BOK Financial from a “hold” rating to a “buy” rating and lifted their price target for the company from $112.00 to $123.00 in a research report on Friday, September 20th. DA Davidson lowered their price target on BOK Financial from $124.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Wedbush reiterated a “neutral” rating and set a $115.00 price target on shares of BOK Financial in a research report on Tuesday, October 22nd. Finally, Stephens lowered their price target on 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. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BOK Financial presently has an average rating of “Hold” and a consensus target price of $112.20.

Insider Transactions at BOK Financial

In other news, Director Steven Bangert sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $117.83, for a total value of $235,660.00. Following the completion of the sale, the director now owns 44,709 shares of the company’s stock, valued at $5,268,061.47. This trade represents a 4.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 56.94% of the stock is currently owned by insiders.

BOK Financial Stock Performance

BOKF opened at $118.87 on Friday. The firm has a market cap of $7.62 billion, a PE ratio of 16.35 and a beta of 1.17. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.87. The business has a fifty day simple moving average of $109.87 and a 200-day simple moving average of $101.19. BOK Financial Co. has a fifty-two week low of $71.04 and a fifty-two week high of $121.58.

BOK Financial (NASDAQ:BOKF) last issued its earnings results on Monday, October 21st. The bank reported $2.18 EPS for the quarter, topping the consensus estimate of $1.98 by $0.20. The business had revenue of $888.50 million during the quarter, compared to analysts’ expectations of $509.43 million. BOK Financial had a return on equity of 9.67% and a net margin of 13.78%. During the same quarter last year, the firm posted $2.04 earnings per share. As a group, equities analysts predict that BOK Financial Co. will post 8.08 EPS for the current fiscal year.

BOK Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.92%. 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 (DPR) is 31.36%.

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.