CIBC Asset Management Inc Makes New Investment in BOK Financial Co. (NASDAQ:BOKF)

CIBC Asset Management Inc acquired a new stake in shares of BOK Financial Co. (NASDAQ:BOKF) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,934 shares of the bank’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in BOK Financial during the second quarter worth $39,000. Olistico Wealth LLC acquired a new stake in shares of BOK Financial during the 2nd quarter valued at about $46,000. Bessemer Group Inc. bought a new stake in BOK Financial in the first quarter valued at about $86,000. KBC Group NV increased its stake in BOK Financial by 25.3% in the third quarter. KBC Group NV now owns 905 shares of the bank’s stock valued at $95,000 after acquiring an additional 183 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in BOK Financial in the second quarter worth about $143,000. 34.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BOKF shares. Royal Bank of Canada lifted their price objective on BOK Financial from $111.00 to $113.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Wedbush reaffirmed a “neutral” rating and issued a $115.00 price target on shares of BOK Financial in a research note on Tuesday, October 22nd. Wells Fargo & Company upped their price target on BOK Financial from $102.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. Truist Financial raised BOK Financial from a “hold” rating to a “buy” rating and lifted their price objective for the company from $112.00 to $123.00 in a report on Friday, September 20th. Finally, DA Davidson lowered their target price on shares of BOK Financial from $124.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, BOK Financial has an average rating of “Hold” and an average price target of $112.20.

BOK Financial Stock Performance

Shares of NASDAQ:BOKF opened at $117.53 on Friday. The business has a fifty day moving average of $108.72 and a 200-day moving average of $100.52. The firm has a market cap of $7.54 billion, a PE ratio of 16.17 and a beta of 1.17. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.79 and a current ratio of 0.79. BOK Financial Co. has a twelve month low of $69.76 and a twelve month high of $119.52.

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

BOK Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.94%. The ex-dividend date is Friday, November 15th. This is a boost from BOK Financial’s previous quarterly dividend of $0.55. BOK Financial’s payout ratio is 31.36%.

Insiders Place Their Bets

In related news, Director Steven Bangert sold 2,000 shares of BOK Financial stock in a transaction dated 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 directly owns 44,709 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 56.94% of the company’s stock.

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.