Millennium Management LLC Boosts Stock Position in BOK Financial Co. (NASDAQ:BOKF)

Millennium Management LLC lifted its stake in shares of BOK Financial Co. (NASDAQ:BOKF) by 29.4% in the fourth quarter, HoldingsChannel reports. The fund owned 252,779 shares of the bank’s stock after acquiring an additional 57,420 shares during the period. Millennium Management LLC’s holdings in BOK Financial were worth $26,908,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BOKF. Picton Mahoney Asset Management bought a new stake in BOK Financial during the fourth quarter valued at about $30,000. Venturi Wealth Management LLC grew its position in shares of BOK Financial by 33.8% during the fourth quarter. Venturi Wealth Management LLC now owns 396 shares of the bank’s stock worth $42,000 after purchasing an additional 100 shares in the last quarter. US Bancorp DE raised its stake in BOK Financial by 12.5% during the 4th quarter. US Bancorp DE now owns 1,088 shares of the bank’s stock valued at $116,000 after purchasing an additional 121 shares during the period. Aster Capital Management DIFC Ltd lifted its holdings in BOK Financial by 538.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,182 shares of the bank’s stock worth $126,000 after purchasing an additional 997 shares in the last quarter. Finally, KBC Group NV boosted its stake in BOK Financial by 32.7% in the 4th quarter. KBC Group NV now owns 1,201 shares of the bank’s stock worth $128,000 after purchasing an additional 296 shares during the period. 34.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BOKF. Stephens cut their price objective on BOK Financial from $124.00 to $110.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 23rd. DA Davidson decreased their price objective on BOK Financial from $122.00 to $114.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Hovde Group cut their target price on shares of BOK Financial from $122.00 to $110.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Royal Bank of Canada decreased their price target on shares of BOK Financial from $119.00 to $104.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 23rd. Finally, StockNews.com cut shares of BOK Financial from a “buy” rating to a “hold” rating in a research note on Monday, March 17th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $111.60.

BOK Financial Trading Up 0.2%

BOK Financial stock opened at $97.76 on Tuesday. The stock has a 50-day moving average price of $95.92 and a 200 day moving average price of $105.91. The company has a market capitalization of $6.28 billion, a price-to-earnings ratio of 12.02 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. The company has a quick ratio of 0.79, a current ratio of 0.75 and a debt-to-equity ratio of 0.57.

BOK Financial (NASDAQ:BOKF) last posted its 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 business had revenue of $500.37 million for the quarter, compared to analyst estimates of $520.86 million. BOK Financial had a net margin of 15.32% and a return on equity of 9.86%. Sell-side analysts anticipate that BOK Financial Co. will post 8.83 EPS for the current year.

BOK Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Thursday, May 15th will be given a $0.57 dividend. The ex-dividend date is Thursday, May 15th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.33%. BOK Financial’s dividend payout ratio (DPR) is currently 26.21%.

BOK Financial Company 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.