Merit Financial Group LLC Sells 109 Shares of BOK Financial Co. (NASDAQ:BOKF)

Merit Financial Group LLC lessened its holdings in shares of BOK Financial Co. (NASDAQ:BOKF) by 4.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,298 shares of the bank’s stock after selling 109 shares during the period. Merit Financial Group LLC’s holdings in BOK Financial were worth $239,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of BOKF. Norges Bank bought a new stake in shares of BOK Financial during the 4th quarter valued at $23,516,000. Freestone Grove Partners LP bought a new stake in shares of BOK Financial during the 4th quarter valued at $21,740,000. AQR Capital Management LLC boosted its holdings in shares of BOK Financial by 80.0% during the 4th quarter. AQR Capital Management LLC now owns 414,548 shares of the bank’s stock valued at $44,129,000 after buying an additional 184,261 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of BOK Financial by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,372,203 shares of the bank’s stock valued at $252,526,000 after buying an additional 98,588 shares in the last quarter. Finally, FIL Ltd bought a new stake in shares of BOK Financial during the 4th quarter valued at $6,281,000. Institutional investors own 34.44% of the company’s stock.

BOK Financial Stock Performance

Shares of NASDAQ BOKF opened at $96.06 on Friday. The firm’s 50-day moving average price is $93.56 and its 200-day moving average price is $103.54. The company has a quick ratio of 0.79, a current ratio of 0.75 and a debt-to-equity ratio of 0.57. The company has a market cap of $6.17 billion, a PE ratio of 11.82 and a beta of 0.87. BOK Financial Co. has a 52-week low of $85.08 and a 52-week high of $121.58.

BOK Financial (NASDAQ:BOKF) last announced its quarterly earnings results on Monday, April 21st. The bank reported $1.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.15). The company had revenue of $500.37 million for the quarter, compared to analysts’ expectations of $520.86 million. BOK Financial had a net margin of 15.32% and a return on equity of 9.86%. As a group, analysts anticipate that BOK Financial Co. will post 8.83 EPS for the current year.

BOK Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Thursday, May 15th were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.37%. The ex-dividend date was Thursday, May 15th. BOK Financial’s dividend payout ratio (DPR) is presently 26.21%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Stephens dropped their price target on shares of BOK Financial from $124.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 23rd. Jefferies Financial Group assumed coverage on shares of BOK Financial in a research note on Wednesday, May 21st. They issued a “hold” rating and a $105.00 price target on the stock. Raymond James set a $105.00 price target on shares of BOK Financial in a research note on Tuesday, April 22nd. Wells Fargo & Company dropped their price target on shares of BOK Financial from $120.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. Finally, Hovde Group dropped their price target on shares of BOK Financial from $122.00 to $110.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 23rd. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, BOK Financial presently has a consensus rating of “Hold” and an average price target of $111.00.

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.