BOK Financial Co. (NASDAQ:BOKF) Brief Interest Update

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BOK Financial Co. (NASDAQ:BOKF – Get Rating) saw strong short-term interest growth in August. As of August 15, there was short interest totaling 1,110,000 shares, up 22.2% from the July 31 total of 908,300 shares. Based on an average daily trading volume of 224,400 shares, the short interest ratio is currently 4.9 days. Currently, 3.8% of the company’s shares are sold short.

Changes to analyst ratings

Several equity research analysts have recently commented on BOKF shares. Stephens raised his price target on BOK Financial shares from $85.00 to $92.00 and gave the company an “equal weight” rating in a Thursday, July 28 research report. Truist Financial cut its price target on BOK Financial shares from $91.00 to $87.00 in a Wednesday, June 15 research report. Wells Fargo & Company raised its price target on BOK Financial shares from $85.00 to $100.00 and gave the company an “overweight” rating in a Thursday, July 28 research report. Finally, Wedbush raised its price target on BOK Financial shares from $78.00 to $86.00 in a Thursday, July 28 research report. Five equity research analysts gave the stock a hold rating and one gave the stock a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $96.83.

Insider activity

Separately, director Steven Bangert sold 3,000 shares of the company in a trade on Friday, July 29. The shares were sold at an average price of $85.00, for a total value of $255,000.00. Following completion of the transaction, the director now owns 73,927 shares of the company, valued at approximately $6,283,795. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available via this link. Separately, director Steven Bangert sold 3,000 shares of the company in a trade on Friday, July 29. The shares were sold at an average price of $85.00, for a total value of $255,000.00. Following completion of the transaction, the director now owns 73,927 shares of the company, valued at approximately $6,283,795. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available via this link. Additionally, director Steven G. Bradshaw sold 2,500 shares of the company in a trade on Thursday, August 11. The shares were sold at an average price of $92.59, for a total transaction of $231,475.00. Following completion of the transaction, the administrator now directly owns 61,604 shares of the company, valued at approximately $5,703,914.36. The disclosure of this sale can be found here. Insiders sold 9,500 shares of the company valued at $866,475 during the last quarter. Insiders of the company own 56.94% of the shares of the company.

Institutional investors weigh in on BOK Financial

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A number of institutional investors and hedge funds have recently changed their holdings in the company. Polaris Capital Management LLC increased its stake in BOK Financial by 5,386.7% in Q2. Polaris Capital Management LLC now owns 875,900 shares of the bank valued at $50,767,000 after purchasing an additional 859,936 shares in the last quarter. State Street Corp increased its stake in BOK Financial by 37.0% in the 1st quarter. State Street Corp now owns 1,231,625 shares of the bank valued at $115,711,000 after buying an additional 332,904 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in BOK Financial by 5.2% in Q1. Dimensional Fund Advisors LP now owns 1,602,673 shares of the bank valued at $150,579,000 after purchasing an additional 78,599 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in BOK Financial by 208.1% in Q2. Cubist Systematic Strategies LLC now owns 90,299 shares of the bank valued at $6,825,000 after purchasing an additional 60,995 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC acquired a new position in BOK Financial in Q4 valued at approximately $5,165,000. 39.12% of the shares are held by institutional investors.

BOK financial stock down 1.3%

NASDAQ: BOKF lost $1.22 on Friday, hitting $91.03. 155,463 shares of the company were traded, against an average volume of 201,492. The company has a 50-day moving average price of $82.97 and a 200-day moving average price of $88.41. The company has a debt ratio of 0.04, a current ratio of 0.66 and a quick ratio of 0.65. BOK Financial has a 52-week low of $70.21 and a 52-week high of $120.20. The company has a market capitalization of $6.20 billion, a P/E ratio of 12.44 and a beta of 1.39.

BOK Financial (NASDAQ:BOKF – Get Rating) last released its quarterly results on Wednesday, July 27. The bank reported EPS of $1.96 for the quarter, beating the consensus estimate of $1.43 by $0.53. The company posted revenue of $442.60 million for the quarter, compared to $419.97 million expected by analysts. BOK Financial posted a net margin of 27.90% and a return on equity of 9.84%. The company’s revenue for the quarter decreased 6.2% year over year. During the same period a year earlier, the company posted EPS of $2.40. As a group, analysts expect BOK Financial to post EPS of 7.02 for the current fiscal year.

BOK Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 25. Shareholders of record on Tuesday August 16 received a dividend of $0.53. The ex-dividend date was Monday, August 15. This represents a dividend of $2.12 on an annualized basis and a dividend yield of 2.33%. BOK Financial’s payout ratio is 28.96%.

About BOK Financial

(Get a rating)

BOK Financial Corporation operates as a financial holding company for BOKF, NA which 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.

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