Avalon Advisory Group Decreases Stock Position in BOK Financial Co. (NASDAQ:BOKF)

Avalon Advisory Group trimmed its position in shares of BOK Financial Co. (NASDAQ:BOKF) by 9.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,769 shares of the bank’s stock after selling 1,268 shares during the quarter. BOK Financial makes up 0.6% of Avalon Advisory Group’s holdings, making the stock its 8th biggest holding. Avalon Advisory Group’s holdings in BOK Financial were worth $1,253,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of BOK Financial during the second quarter valued at about $39,000. KBC Group NV boosted its stake in shares of BOK Financial by 25.3% during the third quarter. KBC Group NV now owns 905 shares of the bank’s stock valued at $95,000 after purchasing an additional 183 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of BOK Financial during the third quarter valued at about $142,000. CWM LLC lifted its stake in shares of BOK Financial by 211.8% in the third quarter. CWM LLC now owns 1,456 shares of the bank’s stock worth $152,000 after acquiring an additional 989 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in shares of BOK Financial in the second quarter worth approximately $143,000. 34.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Steven Bangert sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $117.83, for a total transaction of $235,660.00. Following the transaction, the director now owns 44,709 shares of the company’s stock, valued at $5,268,061.47. This represents a 4.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 59.72% of the company’s stock.

BOK Financial Trading Up 1.7 %

Shares of BOK Financial stock opened at $112.99 on Friday. The stock has a fifty day simple moving average of $113.20 and a 200 day simple moving average of $106.57. BOK Financial Co. has a 12-month low of $77.86 and a 12-month high of $121.58. The company has a market capitalization of $7.24 billion, a P/E ratio of 15.54 and a beta of 1.20. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.87.

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, topping the consensus estimate of $1.98 by $0.20. BOK Financial had a return on equity of 9.67% and a net margin of 13.78%. The business had revenue of $888.50 million for the quarter, compared to analysts’ expectations of $509.43 million. During the same quarter in the previous year, the firm earned $2.04 earnings per share. On average, sell-side analysts anticipate that BOK Financial Co. will post 8.07 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. Shareholders 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 annualized dividend and a yield of 2.02%. This is a boost from BOK Financial’s previous quarterly dividend of $0.55. BOK Financial’s payout ratio is currently 31.36%.

Analyst Ratings Changes

A number of equities analysts recently commented on BOKF shares. Royal Bank of Canada lifted their price objective on BOK Financial from $111.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 23rd. Stephens lowered their target price 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. Wedbush reiterated a “neutral” rating and issued a $115.00 target price on shares of BOK Financial in a report on Tuesday, October 22nd. DA Davidson lowered their target price on BOK Financial from $124.00 to $123.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their target price on BOK Financial from $105.00 to $112.00 and gave the stock an “equal weight” rating in a report on Tuesday, December 3rd. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, BOK Financial presently has a consensus rating of “Hold” and a consensus price target of $114.40.

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.