Elk River Wealth Management LLC Decreases Holdings in BOK Financial Co. (NASDAQ:BOKF)

Elk River Wealth Management LLC cut its stake in shares of BOK Financial Co. (NASDAQ:BOKF) by 33.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,094 shares of the bank’s stock after selling 3,048 shares during the period. Elk River Wealth Management LLC’s holdings in BOK Financial were worth $638,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in BOK Financial by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,176,031 shares of the bank’s stock valued at $199,405,000 after buying an additional 125,950 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in BOK Financial by 4,370,260.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 218,518 shares of the bank’s stock valued at $20,025,000 after buying an additional 218,513 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake 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 valued at $11,567,000 after buying an additional 13,175 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in BOK Financial by 23.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 39,174 shares of the bank’s stock valued at $3,604,000 after buying an additional 7,412 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of BOK Financial by 71.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 37,532 shares of the bank’s stock worth $3,168,000 after purchasing an additional 15,626 shares in the last quarter. 34.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on BOKF shares. Truist Financial upgraded BOK Financial from a “hold” rating to a “buy” rating and upped their price objective for the stock from $112.00 to $123.00 in a research note on Friday, September 20th. Royal Bank of Canada upped their target price on shares of BOK Financial from $99.00 to $114.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 24th. Hovde Group upped their target price on shares of BOK Financial from $106.00 to $122.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. StockNews.com raised shares of BOK Financial from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Finally, Wells Fargo & Company increased their price objective on shares of BOK Financial from $100.00 to $102.00 and gave the company an “equal weight” rating in a report on Tuesday, October 1st. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, BOK Financial presently has an average rating of “Hold” and an average target price of $109.80.

BOK Financial Price Performance

Shares of NASDAQ BOKF traded down $0.04 during mid-day trading on Monday, hitting $107.91. 2,764 shares of the company’s stock traded hands, compared to its average volume of 149,598. The company’s 50-day moving average is $102.20 and its two-hundred day moving average is $95.95. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.82 and a quick ratio of 0.81. The company has a market capitalization of $6.96 billion, a P/E ratio of 15.74 and a beta of 1.17. BOK Financial Co. has a 1 year low of $62.42 and a 1 year high of $109.00.

BOK Financial (NASDAQ:BOKF) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $2.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.65. BOK Financial had a net margin of 13.92% and a return on equity of 9.94%. The company had revenue of $871.84 million for the quarter, compared to analyst estimates of $520.43 million. During the same period in the prior year, the company posted $2.27 EPS. On average, equities analysts anticipate that BOK Financial Co. will post 7.85 EPS for the current fiscal year.

BOK Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend was Thursday, August 15th. BOK Financial’s dividend payout ratio (DPR) is presently 32.07%.

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.