BOK Financial Co. (NASDAQ:BOKF) Sees Significant Decrease in Short Interest

BOK Financial Co. (NASDAQ:BOKF) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 276,600 shares, a decrease of 29.6% from the September 15th total of 393,000 shares. Based on an average daily trading volume, of 141,800 shares, the short-interest ratio is presently 2.0 days. Approximately 1.1% of the company’s stock are short sold.

Analyst Ratings Changes

Several research firms have recently issued reports on BOKF. StockNews.com raised shares of BOK Financial from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Wells Fargo & Company boosted their target price on BOK Financial from $100.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 1st. Wedbush raised their price objective on shares of BOK Financial from $94.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods upped their target price on shares of BOK Financial from $100.00 to $110.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada boosted their price target on shares of BOK Financial from $99.00 to $114.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 24th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $109.80.

Hedge Funds Weigh In On BOK Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of BOK Financial during the second quarter worth about $39,000. Covestor Ltd raised its holdings in BOK Financial by 361.8% in the 1st quarter. Covestor Ltd now owns 471 shares of the bank’s stock valued at $43,000 after acquiring an additional 369 shares during the last quarter. Olistico Wealth LLC purchased a new position in shares of BOK Financial during the 2nd quarter worth $46,000. Bessemer Group Inc. purchased a new stake in shares of BOK Financial in the first quarter valued at $86,000. Finally, Point72 DIFC Ltd acquired a new position in BOK Financial in the second quarter valued at $143,000. 34.44% of the stock is owned by institutional investors and hedge funds.

BOK Financial Stock Performance

Shares of NASDAQ:BOKF traded up $2.84 during trading on Friday, reaching $107.95. The company had a trading volume of 206,076 shares, compared to its average volume of 150,344. The stock’s fifty day moving average price is $102.20 and its 200 day moving average price is $95.92. BOK Financial has a fifty-two week low of $62.42 and a fifty-two week high of $109.00. 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 firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of 15.74 and a beta of 1.17.

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

BOK Financial Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.04%. BOK Financial’s payout ratio is 32.07%.

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.