Reinhart Partners Inc. decreased its holdings in BOK Financial Co. (NASDAQ:BOKF) by 0.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 271,010 shares of the bank’s stock after selling 1,398 shares during the period. BOK Financial comprises approximately 2.0% of Reinhart Partners Inc.’s investment portfolio, making the stock its 22nd biggest holding. Reinhart Partners Inc.’s holdings in BOK Financial were worth $21,451,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Marshall Wace North America L.P. bought a new position in shares of BOK Financial in the 1st quarter worth about $50,000. Machina Capital S.A.S. acquired a new stake in shares of BOK Financial in the 2nd quarter worth about $150,000. FDx Advisors Inc. increased its holdings in shares of BOK Financial by 15.1% in the 2nd quarter. FDx Advisors Inc. now owns 4,350 shares of the bank’s stock worth $328,000 after acquiring an additional 570 shares during the period. BB&T Corp increased its holdings in shares of BOK Financial by 2.3% in the 2nd quarter. BB&T Corp now owns 22,875 shares of the bank’s stock worth $1,727,000 after acquiring an additional 519 shares during the period. Finally, Strs Ohio increased its holdings in shares of BOK Financial by 40.2% in the 2nd quarter. Strs Ohio now owns 5,114 shares of the bank’s stock worth $386,000 after acquiring an additional 1,466 shares during the period. 40.02% of the stock is owned by institutional investors.
A number of analysts recently weighed in on BOKF shares. Piper Jaffray Companies set a $92.00 price objective on shares of BOK Financial and gave the stock a “buy” rating in a report on Friday, October 25th. Stephens cut shares of BOK Financial from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $87.00 to $88.00 in a report on Thursday, July 25th. Raymond James raised their target price on shares of BOK Financial from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. SunTrust Banks set a $82.00 target price on shares of BOK Financial and gave the company a “hold” rating in a research note on Friday, October 25th. Finally, Morgan Stanley lowered their target price on shares of BOK Financial from $89.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $88.86.
BOK Financial (NASDAQ:BOKF) last posted its quarterly earnings results on Wednesday, October 23rd. The bank reported $2.00 EPS for the quarter, topping the consensus estimate of $1.92 by $0.08. The business had revenue of $465.55 million during the quarter, compared to analysts’ expectations of $461.86 million. BOK Financial had a net margin of 22.88% and a return on equity of 11.20%. During the same period last year, the company posted $1.79 earnings per share. On average, equities research analysts predict that BOK Financial Co. will post 7.42 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Tuesday, November 12th will be issued a dividend of $0.51 per share. This is a boost from BOK Financial’s previous quarterly dividend of $0.40. This represents a $2.04 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, November 8th. BOK Financial’s dividend payout ratio (DPR) is currently 29.50%.
In related news, Director Steven Bangert sold 8,889 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $77.23, for a total transaction of $686,497.47. Following the completion of the sale, the director now directly owns 147,416 shares in the company, valued at $11,384,937.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 54.90% 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.
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