Connor Clark & Lunn Investment Management Ltd. Buys New Shares in BOK Financial Co. (NASDAQ:BOKF)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in BOK Financial Co. (NASDAQ:BOKF) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,669 shares of the bank’s stock, valued at approximately $1,242,000.

Other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in BOK Financial in the 4th quarter worth approximately $6,138,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of BOK Financial by 28.0% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 223,745 shares of the bank’s stock valued at $23,408,000 after buying an additional 48,942 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in BOK Financial by 55.6% in the 3rd quarter. Point72 Asset Management L.P. now owns 136,833 shares of the bank’s stock worth $14,315,000 after buying an additional 48,874 shares during the period. Jane Street Group LLC increased its stake in BOK Financial by 309.8% in the 3rd quarter. Jane Street Group LLC now owns 44,561 shares of the bank’s stock worth $4,662,000 after buying an additional 33,686 shares in the last quarter. Finally, Ieq Capital LLC purchased a new stake in shares of BOK Financial during the fourth quarter worth about $2,984,000. Institutional investors own 34.44% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Royal Bank of Canada lifted their price target on shares of BOK Financial from $115.00 to $120.00 and gave the company a “sector perform” rating in a report on Wednesday, January 22nd. Wells Fargo & Company boosted their price objective on shares of BOK Financial from $105.00 to $112.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 3rd. Keefe, Bruyette & Woods raised their target price on shares of BOK Financial from $112.00 to $125.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. StockNews.com cut shares of BOK Financial from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Stephens reduced their price objective on shares of BOK Financial from $135.00 to $127.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $119.11.

BOK Financial Price Performance

Shares of BOKF stock opened at $103.55 on Thursday. The company has a market capitalization of $6.65 billion, a P/E ratio of 12.74 and a beta of 1.20. The company’s 50-day simple moving average is $108.07 and its two-hundred day simple moving average is $109.13. BOK Financial Co. has a one year low of $85.02 and a one year high of $121.58. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.75 and a quick ratio of 0.79.

BOK Financial (NASDAQ:BOKF) last announced its quarterly earnings results on Friday, January 17th. The bank reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.15. BOK Financial had a return on equity of 9.86% and a net margin of 15.32%. As a group, equities analysts anticipate that BOK Financial Co. will post 8.83 EPS for the current year.

BOK Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $2.28 annualized dividend and a dividend yield of 2.20%. BOK Financial’s dividend payout ratio is currently 28.04%.

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.