Victory Capital Management Inc. Increases Stock Holdings in BOK Financial Co. (NASDAQ:BOKF)

Victory Capital Management Inc. raised its stake in BOK Financial Co. (NASDAQ:BOKF) by 49.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,989 shares of the bank’s stock after purchasing an additional 1,648 shares during the quarter. Victory Capital Management Inc.’s holdings in BOK Financial were worth $522,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of BOK Financial in the 2nd quarter valued at approximately $39,000. Olistico Wealth LLC acquired a new stake in shares of BOK Financial in the 2nd quarter valued at approximately $46,000. CWM LLC lifted its holdings in shares of BOK Financial by 211.8% in the 3rd quarter. CWM LLC now owns 1,456 shares of the bank’s stock valued at $152,000 after buying an additional 989 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of BOK Financial in the 2nd quarter valued at approximately $143,000. Finally, nVerses Capital LLC acquired a new stake in shares of BOK Financial in the 2nd quarter valued at approximately $147,000. 34.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on BOKF shares. DA Davidson reduced their price target on BOK Financial from $124.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Royal Bank of Canada raised their price target on BOK Financial from $111.00 to $113.00 and gave the company a “sector perform” rating in a report on Wednesday, October 23rd. Wells Fargo & Company lifted their price objective on BOK Financial from $102.00 to $105.00 and gave the stock an “equal weight” rating in a 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 stock from $112.00 to $123.00 in a report on Friday, September 20th. Finally, Stephens reduced their price objective on BOK Financial from $116.00 to $114.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, BOK Financial presently has a consensus rating of “Hold” and an average target price of $112.20.

BOK Financial Stock Performance

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

BOK Financial (NASDAQ:BOKF) last released its quarterly earnings results on Monday, October 21st. The bank reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.20. The company 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 period in the previous year, the firm posted $2.04 earnings per share. As a group, analysts predict that BOK Financial Co. will post 8.08 earnings per share for the current fiscal year.

BOK Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were given a $0.57 dividend. The ex-dividend date was Friday, November 15th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.92%. This is an increase from BOK Financial’s previous quarterly dividend of $0.55. BOK Financial’s payout ratio is currently 31.36%.

Insider Activity

In other news, Director Steven Bangert sold 2,000 shares of BOK Financial 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. The trade was a 4.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 56.94% of the company’s stock.

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.