Cannon Global Investment Management LLC Takes $220,000 Position in BOK Financial Co. (NASDAQ:BOKF)

Cannon Global Investment Management LLC bought a new position in BOK Financial Co. (NASDAQ:BOKF) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,100 shares of the bank’s stock, valued at approximately $220,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in BOK Financial in the second quarter worth approximately $39,000. Covestor Ltd boosted its holdings in BOK Financial by 361.8% in the first quarter. Covestor Ltd now owns 471 shares of the bank’s stock worth $43,000 after purchasing an additional 369 shares during the last quarter. Olistico Wealth LLC purchased a new stake in BOK Financial in the second quarter worth approximately $46,000. Bessemer Group Inc. purchased a new stake in BOK Financial in the first quarter worth approximately $86,000. Finally, Point72 DIFC Ltd purchased a new stake in BOK Financial in the second quarter worth approximately $143,000. Hedge funds and other institutional investors own 34.44% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on BOKF shares. Keefe, Bruyette & Woods increased their price target on shares of BOK Financial from $100.00 to $110.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Stephens decreased their price target on shares of BOK Financial from $116.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Wells Fargo & Company raised their price objective on shares of BOK Financial from $102.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, October 28th. DA Davidson decreased their price objective on shares of BOK Financial from $124.00 to $123.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada raised their price objective on shares of BOK Financial from $111.00 to $113.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, BOK Financial currently has a consensus rating of “Hold” and a consensus target price of $112.20.

BOK Financial Price Performance

NASDAQ BOKF traded down $0.80 on Friday, reaching $105.43. The company had a trading volume of 220,558 shares, compared to its average volume of 151,830. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $6.76 billion, a PE ratio of 14.50 and a beta of 1.17. The firm’s 50 day moving average price is $105.34 and its 200 day moving average price is $97.88. BOK Financial Co. has a 12 month low of $66.21 and a 12 month high of $114.93.

BOK Financial (NASDAQ:BOKF) last announced its quarterly earnings results on Monday, October 21st. The bank reported $2.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.20. The company had revenue of $888.50 million for the quarter, compared to the consensus estimate of $509.43 million. BOK Financial had a net margin of 13.78% and a return on equity of 9.88%. During the same period in the previous year, the firm posted $2.04 EPS. As a group, equities analysts predict that BOK Financial Co. will post 7.95 earnings per share for the current year.

BOK Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be paid a $0.57 dividend. This is a boost from BOK Financial’s previous quarterly dividend of $0.55. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Friday, November 15th. BOK Financial’s dividend payout ratio (DPR) is presently 30.26%.

BOK Financial 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.